The Palm Jumeirah, the world’s largest man-made island, is one of Dubai’s crowning jewels marking the emirate’s emergence onto the global market.
Built entirely on rock and sand while surrounded by coral reef, it has truly become the ideal holiday destination. However, the development of The Palm was quite the undertaking and involved bringing in experts from all backgrounds to examine the various components involved. On the design front, an 11-km long crescent was added to 16 palm 'fronds' and a 'trunk' design to protect it against sea storms while still offering uninterrupted views of the sea.
Today the Palm Jumeirah has over 4,000 luxury villas and apartments and is on the country’s most famed tourism destinations. People live along the 16 fronds of the Palm, which is home to some of the world’s most luxurious villas -- each with its own beachfront. Houses and hotels are also spread across the crescent and the trunk, which is the focal point of the Palm with houses that are ready for possession. Most developments come equipped with a swimming pool, spa and a gym. All in all, it makes for an excellent choice for single professionals or young families looking to enjoy themselves before settling down.
Viceroy Palm Jumeirah, Balqis Residence, The Fairmont Palm Residences, Dukes Oceana — all these names stand for premium high-end residential communities with unique personalized service. A bunch of new developers have come to the island aiming to implement their ideas of the best quality upmarket real estate projects, like 22 Carat Villas project from the Russian developer Forum Group.
Visitors and residents are treated to a range of amenities with restaurants of every cuisine lining the streets of the Palm Hotels can be found across the Palm, many boasting activities such as water sports or visits to aquariums The area is also home to quite a vibrant nightlife with nightclubs and pubs at all the hotels.
Palm Jumeirah has also received strong impetus to further growth with the introduction of new urban infrastructure projects in recent years. In addition to the 11-km long The Boardwalk (stretching end-to-end along the Crescent, where it is located), 1.5 km-long The Palm Promenade is about to soon open on the 'trunk'. The central part of the archipelago will also be connected via footbridges with such important infrastructure facilities like Al Ittihad Park, with a 3.2km jogging track, landscaped rockery and water features, a Palm West beach premium beach club facility on the western part of the Palm’s trunk, and Golden Mile-Galleria mall. Dubai’s abundant retail industry will also be presented on the island by an impressive five-leveled Nakheel Mall with 350 shops, restaurants and a panoramic sky deck on the rooftop.
Nakheel’s Palm Trilogy development also includes the Palm Jebel Ali and the Palm Deira projects that still under development.
|No. of bedrooms||Average price, AED||Average rent per year, AED||Average service charges, AED||Approximate annual net rental income|
|Total||Per ft2||Total||Per ft2||Total||Per ft2||AED||%|
|The Palm Jumeirah (Luxury Apartments)|
|1BR (1350 ft2)||2,400,000- 2,750,000||1,780- 2,040||140,000- 165,000||100- 120||23,810||18||116,190- 141,190||4-6|
|2BR (1780 ft2)||3,200,000- 4,300,000||1,800- 2,420||180,000- 230,000||100- 130||32,610||18||147,390- 197,390||4-5|
|3BR (2300 ft2)||4,300,000- 6,000,000||1,870- 2,610||240,000- 320,000||100- 140||40,570||18||199,430- 279,430||4-5|
|The Palm Jumeirah (Shoreline Apartments)|
|1BR (1100 ft2)||1,300,000- 2,100,000||1,180- 1,910||100,000- 145,000||90- 130||22,390||20||77,610- 122,610||6-7|
|2BR (1600 ft2)||2,000,000- 3,600,000||1,250- 2,250||140,000- 180,000||90- 110||28,770||18||111,230- 151,230||5-6|
|The Palm Jumeirah (Villas)|
|4BR (5000 ft2)||10,000,000- 16,000,000||2,000- 3,200||420,000- 550,000||80- 110||11,870||2||408,130- 538,130||3-5|
|5BR (7000 ft2)||19,000,000- 36,500,000||2,710- 5,210||650,000- 900,000||90- 130||16,620||2||633,380- 883,380||3-4|