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Dubai Property developer Nakheel said yesterday it has awarded two separate contracts worth Dh43 million for project work on Palm Jumeirah.

DubaiĀ  Property developer Nakheel said yesterday it has awarded two separate contracts worth Dh43 million for project work on Palm Jumeirah.

The first contract for Dh25 million was awarded to architecture company RSP for the design of the Palm Mall, a 157,935 square metre retail complex set to open in 2014.

Design work is due to finish by the end of this year, with construction starting early in 2013, Nakheel said in a statement.

The second contract for nearly Dh18 million was awarded to Al Marwan Contracting for infrastructure work on Frond N of Palm Jumeirah. Work is expected to begin in the next few weeks and take around five months to complete. Earlier this week, Nakheel posted a 33 per cent rise in 2011 net profit, as it handed over properties and avoided any impairment charges, and said it expects to issue the third tranche of its Dh4.8 billion sukuk to trade creditors by June.

 

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