Construction contractor Al Futtaim Carillion has topped out the structure of the exclusive Alef Residences project on the west crescent of Palm Jumeirah.
Currently under construction on a 46,840 m2 plot of land, the fully funded AED 2bn ($544mn) project is scheduled for handover in Q2 2017.
Developed by Al Sharq on a site alongside a W Dubai managed hotel, Alef Residences will contain just 104 units, also serviced by W Dubai, spread across eight mansions.
The two to five bed apartments will all have unique floor plans ranging in size from 4,800 sq ft to 15,000 sq ft. A duplex apartment costs up to AED 51mn while a mansion will set you back AED 268mn. To date around 20 percent of the units have been sold.
The residences will also boast an exclusive private members club, the Club 104, available to residents and select VIPs.
Residents will have VIP access to the W, its 24/7 concierge service and amenities, including six innovative dining destinations and in-residence catering service.
Al Sharq Investment is a joint venture of Qatars Al Mana Global and Saudi Arabias Al Sharq Group.