Long-awaited ultra-luxury One Palm project on Palm Jumeirah gaining momentum

Omniyat developer’s USD 544 million flagship project on the left ‘trunk’ of Dubai’s Palm Jumeirah is progressing at a solid pace.

As imexre.com recently wrote, Dubai’s man-made island of Palm Jumeirah keeps attracting new developers, and fewer empty sites is left for the construction on the ‘trunk’ and the ‘leaves’ of The Palm island.

Recently, local developer Omniyat has reported on the progress achieved in construction of its One Palm (aka The One) flagship luxury exclusive development on the Palm Jumeirah.

At the moment all the most complexed preparatory work is completed and the slabs of the first floor already lie at a height of 16 meters above the ground. Thus, thanks to the first and the following two highly elevated levels, the building will be significantly higher than other neighboring skyscrapers. Slabs are expected to be completed up to level 15 by the end of 2016,.

The One project by Omniyat is famous not only for its total cost of USD 544 million, but also for the level of luxury that it will offer its guests and residents upon completion. It will house one of the most expensive penthouses in Dubai: a four-storey apartment situated on the upper floors of the building, including the roof area, ​​3900 square meters in size and costing USD 54, 47 million (AED 200 million).

All the other 90 residential apartments of the complex will also belong to the super-luxury category, thus prices for these units starting from AED14 million (about USD 3.8 million) and rising up to AED200 million for the above mentioned penthouse.

The first and ground floors of the complex will house an exclusive One Palm Clubhouse, a gourmet restaurant, indoor and outdoor swimming pools, a spa, lounge areas, a yacht club and an outdoor cinema.

Mark Phoenix, managing director of Omniyat said: "It's clear to see from our latest construction report that development of One Palm is coming on in leaps and bounds. This has clearly piqued the interest of potential buyers who are keen to get their hands on one of these magnificent properties."

If you are generally interested in real estate on the Palm Jumeirah, but still haven’t decided what to pick up, IMEX Real Estate is here to offer a variety of apartments, serviced apartments and villas on the world-known man-made island.

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