Nakheel has launched two new projects in Dubai that will cost AED4.2bn ($1.14bn) to construct and will complete the developer’s last two building projects that have been on hold since late 2008.

“These are the last two projects we have to complete,” says Nakheel chairman Ali Rashid Lootah.

The first project is the AED3bn Palm Gateway that will be built at the base of the Palm Jumeirah on top of the existing 15-level parking structure that serves the Palm monorail on Al-Sufouh road.

Nakheel plans to tender the construction of the high-rise towers in October.

The first tower, known as the Tubular Tower, will be 261 metres tall with 61 storeys, including 46 above podium level with 520 apartment units. The Central Tower will be 211 metres tall with 49 floors and 429 apartments. The Beach Tower will be 205 metres tall with 48 floors and 313 apartments.

The development also includes a beach club, retail, dining, and health and fitness outlets.

The consultant is the UK’s Mott MacDonald, which worked on the scheme before 2008 when it was known as the Gateway Towers. Japan’s Taisei Corporation completed the car park podium in 2008.

Nakheel has also launched its Jumeirah Heights Fronds development that will be built at the northern edge of its high-end Jumeirah Islands community in Dubai.

The scheme includes four towers with 1,400 apartments and villas. Nakheel expects it to cost AED1.2bn to build and will tender the construction by the end of this year.

Work on the project first started in 2008 with Athens-based Consolidated Contractors Company (CCC) and the local Al-Shafar General Construction as the main contractors.

Nakheel is tendering other tower projects. It recently invited companies to submit bids by 2 November for the contract to build a new hotel tower on the Palm Jumeirah.

The 52-storey Palm Tower Hotel & Residences will be built next to the planned Nakheel Mall and will include 290 guest rooms, 502 serviced apartments, conference rooms, a business centre, a restaurant and swimming pools, with a total built-up area of 95,595 square metres. Hong Kong-based Shangri-La Hotels and Resorts has signed a letter of intent with Nakheel to manage the property.