Nakheel Properties, the leading renowned Dubai-based real estate developer, has announced that it is going to issue the construction tender for Palm 360, one of its new projects on Palm Jumeirah, within the third quarter of 2018.
A mixed-use twin tower project, Palm 360 will be developed on an area that spans more than 4.5 hectars of land on the western crescent of Palm Jumeirah, the iconic man-made tree-shaped island that belongs to Nakheel as well.
Upon its scheduled completion in 2021, Palm 360 will be the tallest building on the island with a height that reaches 260 meters; it will also house a swimming pool with an area that extends across both towers 170 meters above the ground, making it the largest sky pool in the world.
In addition to that, the twin-tower project will comprise 125 Raffles branded luxurious hotel rooms as well as 336 Raffles branded residential units, including 16 penthouses.
It is worth mentioning that Nakheel has recorded a 5% increase in profit in the first quarter of 2018 in comparison to the same period of the previous year, which Nakheel attributed to its delivery of 200 finished units during that quarter.