The Palisades Overview
The Palisades is a 20 million square feet residential project in the heart of Dubai Investments Park.
Once completed it will comprise of 20 apartment buildings, 36 townhouses and eight luxury villas.
Construction has yet to start but it is estimated that the total cost of the infrastructure will be AED 600 million ($163.3) and will be built in phases.
- The project was launched in November 2006.
- The master developer is Palisades Development Company.
- The design contract was awarded to Bruce Henderson Architects Pty. Ltd.
- From The Palisades it takes roughly 31 minutes to drive to Dubai Mall, 24 minutes to Palm Jumeirah, 27 minutes to Burj Al Arab and 25 minutes to The Walk JBR.
- Dubai International Airport (DXB) is roughly 37 minutes' drive and the new Al Maktoum International Airport is roughly 27 minutes' drive. All durations are calculated by Google Maps and assume the fastest route in typical traffic conditions.
26 Nov 2006: "Comprising 20 residential towers housing 1,450 apartments (one-, two- and three bedroom), 36 townhouses and eight luxury villas (two-, three- and four bedroom), The Palisades is spread across an area of about 15 million sq ft. While the first phase of the project, estimated at Dh10 billion, would complete in end 2008, the whole project is due for completion in 2011.
"The site work is already under way and construction for The Palisades is expected to start, on schedule, in early 2007." (Source: skyscrapercity.com)
11 Jan 2007: "Dubai-based Landmark Properties has successfully sold all of the 44 Phase One villas located at The Palisades, one of Dubai's mixed-use real estate developments." (Source: skyscrapercity.com)
3 Dec 2008: Works on levelling the ground are seen to have started. (Source: skyscrapercity.com)
16 Apr 2009: The project appearsto be ON HOLD. (Source: skyscrapercity.com)
22 Jul 2010: An investor reports that their contract states that 'the project shall be completed by December 2010'. (Source: skyscrapercity.com)
6 Feb 2011: A witness reports that work has stopped. (Source: skyscrapercity.com)
9 Aug 2014: 'Land Number 13 / Area 458 / Project Number 342 / Project Name THE PALESIDES / Project Location Dubai Investment Park First / Project Adoption Date 12/6/2007 / Project Percentage 6.89 / Real Estate Developer Name: PEARL PROPERTIES / Master Developer Name: DUBAI INVESTMENT PARK DEVELOPMENT CO (LLC) / Trust Account Number: 490068159003 / Bank Name: ABU DHABI COMMERCIAL BANK / Project Status Cancelled Investor Detail /Project Status Detail The project is register in RERA for off plan sales and the records indicate that the project has been canceled and transferred to the liquidation committee of the stalled projects in Dubai Courts.' (Source: skyscrapercity.com)
In June 2016 Dubai Investments signed an agreement to manage and market The Palisades project within Dubai Investments Park. Dubai Investments formed a new entity, Palisades Development Company, and announced that groundbreaking work on the Palisades project had commenced. (Source: skyscrapercity.com)
12 June 2017: Reuters reported that Dubai Investments had started infrastructure work on the Palisades project and that the earth works contract had been awarded to Arabtec Construction.
July 2017: Dubai Investments said the earthwork grading and levelling for the roads at The Palisades 'is expected to be completed by this September'.
15 Apr 2018: Work is reported to have started on the Palisades residential project.
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