Marina Residences to launch on The Palm Jumeirah

The first properties on The Palm Jumeirah are available to buy in more than four years after Nakheel announced the sales launch of the Marina Residences.

Marina Residences is a residential complex located at the heart of The Palm Jumeirah, offering panoramic marina and island views spanning the Persian Gulf and Dubai coastline. The development is composed of six residential towers at the tip of The Trunk that rest on landscaped podiums faced with marinas and access to a private promenade. Sales are by appointment only and will take place on a first-come-first-served basis at the Nakheel Sales Centre from 9am onwards on Sunday, March 11.

At the doorstep of each tower is Anchor Marina, one of Dubai's largest marinas with berths for more than 700 vessels and world-class facilities. Anchor Marina will be operated by Island Global Yachting (IGY), a leading marina company who has designed, developed and operated marina projects in North and South America, the Caribbean, Europe, Asia, Africa and the Middle East. Residents of The Palm Jumeirah will have first refusal to long-lease a private marina berth in front of their homes giving exclusive and prime access to the marina.

The six towers are each 15 storeys high and rise to form a 'v' shape, maximizing the sea view outwards, while the architecture echoes that of the region with arabesque forms and colouring. The six towers hold 940 apartments and penthouses; a further 40 townhouses rest on a marina fronted private promenade.

Manal Shaheen, Nakheel Director - Sales, Marketing & Customer Service, said, "Owning a residence on The Palm Jumeirah means being part of the world's most iconic real estate development - a development that has attracted the attention of the world with its sheer scale, beauty and innovation.

"Featuring exceptional unit layouts and balconies surrounded by calm, azure waters, year-round sunshine and exceptional waterfront views, Marina Residences offers high-rise living at Dubai's most sought after address. Access to the marina's clubhouse and the finest marina leisure facilities will allow residents to live the Riviera lifestyle providing the ultimate waterfront lifestyle experience."

Marina Residences offers a selection of two and three bedroom apartments with top quality finishes, available in a choice of styles. Outstanding amenities and services are available with technology features including high-speed internet access and 'future technology-ready' features. Homes are also cable, TV, telephone and entertainment system ready.

Marina Residences features a state-of-the-art security system, CCTV monitoring of public areas, and secure underground parking facilities. Membership to an exclusive club surrounded by landscaped gardens is available with facilities including a gym, Jacuzzi, swimming pool and children's pool and play area.

The first phase of The Palm Jumeirah, which includes around 1,500 villas on 11 of the fronds of the island and 2,500 Shoreline Apartments within 20 buildings on the east side of the trunk, is well underway with more than 750 properties already handed over to customers.

Chris O'Donnell, Nakheel Chief Executive, said, "When 4,000 villas and apartments on The Palm Jumeirah went on sale in 2002, they sold out in just 72 hours; Marina Residences offers buyers the first opportunity to buy on the island in more than four years and we expect demand to be high.

"The success of the Shoreline Apartments has already proved that The Palm Jumeirah is Dubai's most sought after address with buyers often seeing premiums of 120%, sometimes even 300%. We believe this is a ringing endorsement by the market of the quality of product that has already been delivered."

Construction of Marina Residences is making rapid progress and properties are expected to be handed over to residents at the end of 2008. Soil improvements were completed in October 2006 and structural works commenced on the towers in December 2006. The completion of the structure of the first tower is expected by the end of September 2007, with the rest of the structural works of the towers completed by the end of 2007. Finishing works for the first towers are expected to be completed by summer 2008.

Leading international architectural, engineering and general contracting firm Shimizu Corporation is the main contractor and will be responsible for the construction of basements, superstructure, architectural works, interior finishings and landscaping. Shimizu Corporation will work alongside the main consultants for the project, Dar Al-Handash, one of the biggest consultancy firms in the Middle East. HHCP Design International Inc, a leading USA based architectural firm, have developed the concept design of the project, with local landscaping design firm Al Khatib Cracknell responsible for the landscape concept design.

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