Nakheel has commenced handover of the sixth and final tower of Marina Residences in Palm Jumeirah with residents likely to move in within the next few weeks.

The master developer, in a press statement, said the phased handover of homes at Marina Residences, located at the tip of the island's trunk, began late last year, with close to 100 families already taking occupancy.

"It is yet another major milestone for Palm Jumeirah as we receive handover of the final building at Marina Residences. We have been working closely with contractors Shimizu Corporation during the past few years to deliver this development on The Palm," said Marwan Al Qamzi, Group Managing Director, Nakheel Development Projects.

This waterfront development features six residential towers containing a mix of apartments and penthouses. The most luxurious penthouses are designed over four floors, providing more than 14,000 square feet of living space. The development is complemented by a number of townhouses, which are located along the marina-fronted promenade.

The Palm Jumeirah is now home to more than 12,000 residents. Emirates Business recently reported that occupancy levels on the Palm Jumeirah are running between 60 per cent and 75 per cent across the villas and apartments.

The Palm Jumeirah villas, Shoreline apartments and Marina Residences are the only projects developed by Nakheel on The Palm. The rest of the residential offerings are being developed by third-party developers.

The Marina Residences at the tip of the Palm's trunk has six towers with 940 apartments and penthouses. Forty townhouses are on a marina-fronted promenade.