Palm Deira dives into action.(UAE)

MEED Middle East Economic Digest | May 20, 2005 | Copyright

Local property developer Nakheel has countered speculation that the Palm Deira project will be downsized or even cancelled altogether by stating that it is close to awarding the main dredging package. "We are negotiating with two companies and expect to make a decision soon," Nakheel's executive chairman Sultan Ahmed bin Sulayem told MEED on 18 May "This [speculation] is nothing but a rumour and we have had it with the other Palms too." Palm Deira is billed as the largest dredging and reclamation project in history, requiring more than 1,000 million cubic metres of material.

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