Nakheel Tower project to go on as scheduled

Nakheel yesterday announced it was scaling back construction work on several of its projects due to current market conditions.

Among the projects that will be delayed include Frond N villas, Gateway Towers and Trump International Hotel and Tower at The Palm Jumeirah and several projects at the Waterfront and The Palm Jebel Ali.

According to statistics made available by Building and Construction Network, Nakheel's portfolio includes a total of 571 projects with more than 249 projects still under construction.

Among the projects that will continue as scheduled include Madinat Al Arab, Venetto, Badra and Canal District at the Waterfront; infrastructure for Crescent A&E and frond villas at The Palm Jebel Ali and the construction of world's tallest property, Nakheel Tower and Harbour.

A senior spokesperson told Emirates Business: "Nakheel is delaying long-dated infrastructure work on some of our projects in order to ensure that our business model is aligned to meet market demand. We have the responsibility to adjust our short-term business plans to accommodate the current global environment.

"At Palm Jumeirah this means delays to Frond N villas, Gateway Towers and Trump International Hotel and Tower. At Waterfront, work on Madinat Al Arab, Venetto, Badra and Canal District is ongoing as planned, while other phases will be delayed. Work on The Universe will be restricted to preliminary engineering studies. At Palm Jebel Ali, work on frond villas as well as infrastructure for Crescent A&E will proceed as planned."

Last month, senior Nakheel officials denied reports that appeared in MEED, saying it had stopped dredging work on The Palm Deira – the largest of the three man-made islands. The UK-based magazine quoted sources within the industry, saying that dredging contractors were asked to stop work on The Palm Deira.

Denying the reports as mere rumours, a senior official had told Emirates Business the reclamation of The Palm Deira is on and was expected to finish in 2014.

"We are currently focusing on the area closest to the Deira side, which will be known as the Deira Island Front. The satellite images show work in progress. The Deira Island itself is as big as The Palm Jumeirah and spread over five million sq m. We have reclaimed land equivalent to three Palm Jumeirahs so far," said Abdulla bin Sulayem, Operations Director at The Palm Deira.

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