The Palm Jumeirah's Marina Residences at 20% Completion

Nakheel, one of the world's largest real-estate developers, has announced that the Marina Residences development on The Palm Jumeirah is now 20% complete. The handover of units is expected to take place at the end of 2008.

Ground work commenced on Marina Residences' six towers, located at the tip of The Palm Jumeirah's trunk, in September 2006. With foundation works completed, the six structures have emerged out of the ground and mechanical, electrical and plumbing works in each tower have commenced.

Once complete, the development will boast 940 two and three bedroom apartments and penthouses and a further 40 townhouses. Residents will be able to enjoy panoramic views of the Arabian coast and access to a wealth of attractions and facilities on The Palm Jumeirah, such as the QE2, Atlantis, the luxury marinas and the purpose-built theatre for Cirque Du Soleil.

Johann Schumacher, Managing Director, The Palm Jumeirah, said:

«We are delighted with the progress made on Marina Residences having only commenced work on the development in late 2006. Since its launch in 2001, demand for property on The Palm Jumeirah has been exceptional and Marina Residences has been no different. More than 50% of the project is now sold and we are looking forward to future sales».