Dubai developer Nakheel has awarded a AED819m ($223m) contract for the construction of The Palm Tower to a UAE joint venture of Trojan General Contracting and National Projects & Construction (NPC).

The 52-storey, five star hotel and residential complex will be built on the Palm Jumeirah

The 240-metre tower will have 504 apartments, a 290-room five star hotel, and dining and leisure facilities such as a rooftop infinity pool, and a restaurant and viewing deck.

The Palm Tower will be connected to Nakheel Mall. In 2014, Nakheel signed the AED1.2bn ($327m) contract to build the Nakheel Mall on the Palm Jumeirah with local construction companies United Engineering Construction (UNEC) and Actco General Contracting Company.

The 418,000-square-metre mall will have five retail levels with more than 100,000 sq m of retail space, three basement parking levels with 4,000 spaces, 300 shops, two anchor department stores, a nine-screen cinema, medical centre and fitness complex. There will also be a roof plaza with food and beverage outlets. The project is expected to be completed in 2016.

The Palm Tower will also offer direct access – via a bridge and walkways – to Palm Jumeirah’s beach clubs, including Nakheel’s Club Vista Mare and Palm Promenade West Beach projects.

The Palm Tower is one of 10 hotels being constructed by Nakheel as part of its expansion into the hospitality sector.  Others are located at Deira Islands, Ibn Battuta Mall and Dragon City.