Palma to build seafront residential community

Dubai

PALMA Development, a privately-owned developer, plans to build a seafront residential community on Dubai's Palm Jumeirah man-made island, according to its chief executive officer.

The 1.5 billion dirham (S$543 million) project will include 250 apartments in three buildings that utilise just 25 per cent of the land located between two luxury hotels at the tip of the Palm. The 227,000 square-foot plot came with a hotel licence that the developer decided not to use.