Most people around the world will be familiar with Dubai’s famous Palm Jumeirah – the luxurious real estate development on a man-made island in the shape of a palm tree.
Construction on that incredible project began back in 2001, when Dubai was a very different destination – there was no Dubai Marina, no Downtown, no Burj Khalifa.
What most people outside of Dubai do not realise is that Palm Jumeirah was one of three Palm projects, that include Palm Deira (or Deira Islands) and Palm Jebel Ali.
This is a sure sign that the good times are back in Dubai, which currently boasts the world’s most buoyant real estate market, especially when it comes to high-end residential property.
Palm Jebel Ali will add 91km of coastline to Dubai
Mothballed since the 2008 financial crisis, Palm Jebel Ali – which is 50% bigger than its Jumeirah cousin – is now back in full swing as part of the latest masterplan by His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai.
The first villas to be released are Coral villas and Beach villas, each available in eight styles, and concentrated on four of the palm’s fronds.
“As pioneers of waterfront living, Nakheel is synonymous with Dubai’s incredible journey of growth and urban infrastructure development,” said Rasha Hasan, Chief Commercial Officer, Nakheel.
“We are delighted to bring Palm Jebel Ali to market at this exciting time, with the island playing a transformative role in shaping the city’s future, raising the global benchmark on waterfront living and underlining its position as a world-class lifestyle destination.”
Palm Jebel Ali is built on 13.4 square kilometres of reclaimed land. When complete, it will comprise seven islands and 16 fronds, adding a total of 91km of beachfront – considerable considering Dubai originally only had 70km.
The island will also be home to more than 80 hotels and resorts.
This is a turnaround in fortunes for Nakheel, which was on the brink of bankruptcy in 2009 as a subsidiary of Dubai World at the height of the global crisis which especially impacted real estate.
However, Nakheel bided its time, got its own house in order with a number of successful inland residential projects, and is now back with another potential landmark development in Palm Jebel Ali.
Nakheel’s other master developments include Palm Jumeirah, The World, Jumeirah Islands, Jumeirah Park, Jumeirah Village, Al Furjan, The Gardens, Discovery Gardens, Jebel Ali Village, Nad Al Sheba Villas, and Dubai Islands.
The company’s retail portfolio also includes Nakheel Mall on Palm Jumeirah, Ibn Battuta Mall, and Circle Mall, while Nakheel Hospitality features a diverse portfolio including The St. Regis Dubai, The Palm, Premier Inn Ibn Battuta Mall, and Avani Ibn Battuta.
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