- Dubai’s real estate market continues to attract global attention, with the recent launch of Palm Jebel Ali’s first villas selling out.
- In a display of enthusiasm, house hunters in Dubai queued from 3am on Wednesday to secure their spots in the race for luxury real estate on Palm Jebel Ali.
- With over 80 hotels and resorts, as well as retail and dining options, Palm Jebel Ali aims to create a unique and vibrant community.
The demand for luxury real estate in Dubai continues to soar as hundreds of people queued to secure a villa in Palm Jebel Ali, the city’s newest man-made island development.
Eager buyers camped outside developer Nakheel’s sales centre to secure a spot on this property, which is located 20km south of Palm Jumeirah. Palm Jebel Ali’s waterfront villa project was recently unveiled, and it has already generated significant interest.
The new waterfront project is located on four fronds of the island and features luxurious white beaches; good access to coral and watersports; and communities of high-end villas.
The new properties range from 8,000 to 12,000 square feet, and are selling for prices between $5.45m and $9.53m. The prices of off-plan properties range from $6.81m to $8.17m.
International high net-worth individuals (HNWIs) interested in purchasing a property in Palm Jebel Ali should use safe modes of money transfer when making payments.
The demand for these properties reflects a shift in preferences towards contemporary open-plan living spaces, architecture that combines Brutalism with sloping Eastern lines and luxury views.
Matthew Solomon, Manager at Haus & Haus real estate agents, observed that this trend is particularly notable in the sought-after villas located on Palm Jumeirah, where buyers are purchasing these homes and renovating them to align with their contemporary aesthetic tastes.
Solomon also suggested that buyers are increasingly looking for homes that resemble the high-end aesthetic of Beverly Hills but with the benefits of the UAE economy, which offers stability and continuous wealth growth.
The project, which was launched in June, is part of a larger plan unveiled by Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, to solidify Palm Jebel Ali’s position as a prime destination for luxury living in the region.
In an announcement on Monday, Rasha Hasan, Chief Commercial Officer of Nakheel, expressed her delight in bringing Palm Jebel Ali to the market, as it holds the potential to shape the future of the city and raise the global benchmark for waterfront living.
Hasan also indicated that the man-made island hopes to offer enhanced living spaces, abundant green areas and efficient transportation management using smart city technology.
Affluent individuals looking to migrate to the UAE should find the best international payments service so that their transactions are secure.
HNWIs purchasing luxury real estate overseas can use our online money transfer comparison tool to find the best exchange rates.
