It is anticipated that the Palm Jebel Ali sales relaunch will signal the turning point in this year’s expanding Dubai real estate market. adding a brand-new chapter to Palm Dubai’s past that will last throughout the ensuing ten years.
According to some real estate companies, the starting price for the Palm Jebel Ali villas, which have built-up areas between 7,000 and 20,000 square feet, would be Dh18 million. There will be a “intense rush” as affluent investors battle for the best places along the coast when the first villas are issued.
The extent of this island, where the majority of the initial development has already been finished, will be double that of the Palm Jumeirah and will add 110 km to Dubai’s coastline. Mid-rise apartment structures will also be present on the new Palm; their sales should be in line with those of the best villa locations. You can explore the The Best Beaches in Palm Jumeirah to get a sense of the stunning surroundings.
Estate agents have recently begun talking with their clients about the Palm Jebel Ali options to prevent any delays in their purchase decisions. Many buyers, according to the brokers, want to “sign on the dotted line right away.”
Earlier this year, Dubai unveiled a new design for the Palm Jebel Ali, which was previously shown in the middle of the 2000s. However, the initiative was abandoned in the wake of the 2008 Financial Crisis.
But now, a real estate agent declared, “This is the perfect time for the Palm 2 to return.” There are a lot of potential investors looking to buy property or a block of land on the Dubai seafront, but there isn’t much available land on the Palm Jumeirah.
The arrival of Palm Jebel Ali on the market is timely. Many investors that we are aware of are delaying investing in any other projects in order to be among the first to utilise the Palm Jebel Ali relaunch.
Industry insiders predict that the Palm Jebel Ali’s sales will contribute to the upmarket part of the Dubai real estate market’s momentum. There haven’t been many new releases in this region recently because the vast bulk of the accessible lands have already been developed and sold.
A fair premium
Due to the tremendous demand for homes on the Palm Jumeirah, which in recent years has fetched record transactions including a Dh600 million sale, the new houses on the second Palm have a built-in premium. That won’t put off any prospective buyers. According to the CEO of one of the city’s largest luxury brokerages, “typical Palm buyers are not ones to look at costs; they only want to know what those prices will bring to their homes.”
Where can I buy Palm Jumeirah?
According to the statistics website DXBInteract.com, Palm Jumeirah villa purchases have cost an average of Dh25.5 million so far this year. That is a gain in value of nearly 40% from a year ago. The median price per square foot is Dh3,638, which is an increase of over 40% from the previous year. In the approaching weeks, the first Palm will see further project reveals and sales, including the much anticipated one from a second Armani-branded property in Dubai.
Wait and Observe
The primary factor that will favor the Palm Jebel Ali is the severe scarcity of ultra-luxury villas for sale in Dubai. When Knight Frank mentioned this in a recent market report, investors were forced to decide whether to wait to invest their money or go elsewhere.
Estate agent: “The Palm Jebel Ali villa sales will fill this gap.” The most sought-after real estate in Dubai will continue to be expansive villas and palaces with plenty of coastline.
