Dubai: Palm Jebel Ali Attracts Long-Term Investors
This zone was the emirate's best-selling area in the final quarter of last year, with outstanding sales and numerous transactions that underscored its market appeal and indicated a positive trend in the real estate sector.
Palm Jebel Ali has emerged as a premier choice for long-term investors, dominating Dubai's sales in the final quarter. Industry analysts report that properties are being sold at premiums of up to 10%. Investors are seeking to capitalize on the substantial growth of the local real estate market over the last three years.
Following the success of Palm Jumeirah, Palm Jebel Ali is now drawing the attention of affluent individuals. The project, reinitiated by the Dubai government in September of the previous year, prompted Nakheel Properties to commence the construction of villas. With an increase in demand, additional villas were made available to both domestic and international buyers. While some intend to reside there, the majority of investors are speculating on the potential appreciation of the area as Dubai continues to develop. They regard emerging areas like Palm Jebel Ali as promising investment opportunities.
In the fourth quarter of 2023, Palm Jebel Ali was the standout in terms of sales, achieving Dh14.2 billion. It was followed by Dubai Marina with Dh8.3 billion, and Business Bay with Dh5.1 billion. Projects such as Palm Jebel Ali are transforming the concept of luxury living and positioning Dubai as a prime location for high-end investments. Highlighted below are some significant projects:
Projects
As of September 2023, two exclusive villa collections have been unveiled:
- The Beach Collection features eight home designs, including 5-bedroom villas such as Provence and Indigo Ocean, and 6-bedroom options like Blue Horizon and Sapphire, ranging from 7,316 sq. ft to 8,434 sq. ft.
- The Coral Collection presents eight extravagant 7-bedroom home styles, including Hibiscus and Coral Living, offering expansive areas from 11,222 sq. ft to 12,165 sq. ft.
Each residence includes a family room, en-suite bedrooms with walk-in closets, staff quarters, an elevator, balconies, a rooftop terrace, and a garage accommodating 2–4 vehicles. Select homes feature a study or office space. All villas boast a private swimming pool and direct access to the beach.
- Additionally, The Premium Plot Collection offers land plots for those wishing to construct bespoke villas.
Sightseeing
Palm Jebel Ali will host a variety of attractions poised to draw visitors from throughout Dubai. MOON Dubai is among the most anticipated developments. Set to be the largest sphere globally at 229 meters in diameter, The Private Residence at MOON Dubai will include 500 luxurious homes, a six-star hotel, and more, anticipating over 10 million visitors per year. Attractions will include a Lunar Surface experience, a Lunar Colony exhibit, and astronaut simulations.
Other notable destinations within a 25-minute drive encompass:
- Legoland Dubai and Legoland Water Park, integral to Dubai Parks & Resorts, featuring over 60 attractions, water slides, dining venues, retail outlets, and events throughout the year for families.
- The Outlet Village, offering shopping experiences for high-end brands such as Dolce&Gabbana and Armani Outlet, complemented by gourmet dining establishments.
- Action Park, ideal for go-karting, paintball, and archery, with special packages available for birthday celebrations.
In conclusion, Palm Jebel Ali presents a lucrative investment opportunity that should not be missed. With properties being sold at premiums of up to 10% and the project attracting affluent individuals, the potential for substantial growth in the local real estate market is evident. The success of Palm Jebel Ali in terms of sales, coupled with the exclusive villa collections and upcoming attractions, positions this development as a promising choice for long-term investors looking to capitalize on Dubai's continuous development and transformation into a prime location for high-end investments.
Date: 25 Mar, 2024
