The Metropolitan Group has confirmed its place on The Palm Jumeirah Islands. The news comes just ten days after plots were officially released to hotels on the development’s Crescent where the hotels will be based.
The price of the properties will range from 1.7 million Emirati dirhams ($462,800) for a three bedroom Canal Cove Town House covering 3,500 square foott built up area to Dh 4.6 million for a five bedroom home on a 13,000 square foot plot. Bookings for these homes are being accepted immediately.
“We are in serious discussions with several other major hotel groups and have in the past 10 days received strong indications from an additional six investors/hotel operators, who have expressed a desire to conclude deals in the coming days. We expect to make further announcements in the near future,” said Chairman of Dubai Palm Developers, Sultan Ahmed Bin Sulayem. He added that over 3000 people from all over the world had expressed serious interest in The Palm
The hotel plots are available on The Crescent, a barrier reef designed to protect The Palm Jumeirah. At just over 11 kilometers long, The Crescent will host up to 40 themed hotels. Each hotel will reflect a different national or ethnic theme - such as Greek, Balinese, Brazilian, Floridian.
The Palm consists of two islands, The Palm Jumeirah and The Palm Jebel Ali, which together will add an impressive 120 kilometers to Dubai’s shoreline and increase the United Arab Emirates’ (UAE) beachfront by 166 percent. Both the Palms will contain a range of luxury hotels, entertainment and shopping facilities.
The Palm Jumeirah will be built using 95 million cubic meters of sand and rock. To date over 17 million cubic meters of fill material have been dredged and deposited and approximately 800,000 cubic meters of rock have been placed in the building of the impressive breakwater.
The Palm Jumeirah is expected to be completely raised out of the sea by the latter half of 2003, with with nearly 25 percent of the total 3.8 million cubic meters of rock placement and nearly 20 per cent of 91.5 million cubic meters of reclamation works already complete. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
