Dubai’s real estate market is set to witness a significant boost with the relaunch of one of its most anticipated megaprojects, Palm Jebel Ali. The project is twice the size of the Palm Jumeirah and is expected to start selling villas in the near future.
Real estate agents have already started informing potential buyers about the villa prices and options available in Palm Jebel Ali. According to sources, sales could commence as early as this month. Initially, luxury villas located on a select few fronds will be up for grabs.
These villas are expected to range from 5 to 7 bedrooms, with built-up areas varying between 7,000 to 20,000 square feet. The starting price for these villas is estimated to be around Dhs18 million.
In addition to the villas, the 13.4 square kilometer island development will also feature several apartment blocks. The sale of these apartments is expected to follow that of the villas.
Palm Jebel Ali
The Palm Jebel Ali project was initially halted in 2009 due to the global financial crisis. However, earlier this year, H.H. Sheikh Mohammed bin Rashid Al Maktoum, Vice President of the UAE and ruler of Dubai, confirmed that the project would be resumed. In May 2023, he unveiled a comprehensive master plan for the manmade island, which includes hotels, beaches, residences, and leisure attractions.
Once completed, Palm Jebel Ali will not only provide residential spaces but will also add approximately 110 kilometers of coastline to the city. Furthermore, it will introduce 80 new hotels to Dubai, significantly boosting the city’s tourism sector.