Palm Jumeirah villas are running one year behind
Nakheel confirms that work on the residential projects on the Palm Jumeirah is running a year behind schedule.
Nakheel has confirmed that the construction of the
residential projects on the multi-billion dollar Palm Jumeirah development is running one year late.
But it has denied site reports that some villas on the man-made island have had to be demolished and re-built.
The developer has informed all owners of residential
properties on the project that the final handover of their properties will be delayed by one year.
The handover is now expected in November 2006.
In a statement the company said: “Property owners were also informed of a revised payment schedule which has been restructured to the benefit of owners, with remaining payments spread out over the period until completion.”
The final completion date for the development is expected to be announced in due course, as soon as the individual developers have confirmed their exact programmes.