Buy Properties in Jumeirah Village Circle
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About Jumeirah Village Circle
Palm Jebel Ali is an artificial archipelago with 7 islands located in the south of Jebel Ali Free Zone. This is a development by Nakheel Properties, who is famous for the iconic Palm Jumeirah island. It is worth noting that the size of Palm Jebel Ali will be twice as big as the 460-hectare Palm Jumeirah.
The master plan of the project includes 80+ resorts and hotels, according to a statement by Sheikh Mohammed’s office. Also, the project will add more than 68 miles to the emirate’s coastline. Up to 1,700 beach villas and 6,000 apartments could become available on the island, as reported by the Financial Times.
In line with the Dubai 2040 Urban Master Plan, the developer will use smart home technology and sustainable practices to minimize the environmental impact of Palm Jebel Ali. For instance, up to 30% of its energy will be generated from renewable sources, making the island largely self-sufficient.
It was announced that there will be a 26,247-foot-long beach, with the copious planting of mangrove trees. Also, visitors will appreciate recreational zones, aqua sports facilities, cycling and pedestrian tracks, beach camping areas and family spaces. The beach will be linked to Jebel Ali Metro Station via a direct public bus link.
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Infrastructure
As mentioned earlier, Palm Jebel Ali is part of Jebel Ali Free Zone. The public transport infrastructure has not been built yet here. For now, there are 2 bridges in the north of the island and more bridges to come, which will connect Palm Jebel Ali to the mainland. The island is located just a 15-minute drive away from Dubai Marina, which is one of Dubai’s most popular tourist destinations.
Attractions
Michael R. Henderson, the co-founder of a Canadian architectural company, is planning to construct a sensational 900-foot replica of the moon atop a 100-foot building on Palm Jebel Ali. Called MOON, the extraordinary USD 5B development will house a 4,000-room hotel, an arena with the capacity to hold 10,000 people, and the authentic Lunar Colony.
In addition, there will be a boutique 6-star hotel, a Private Member’s Club, a spa, a night club, a ‘moon shuttle’ and training services. One can also become a property owner in the MOON, as the development will offer 500 luxury apartments and 300 lavish Sky Villas.
According to Michael R. Henderson, the MOON is set to become the MENA region’s biggest and most successful tourism development. It is expected to double annual tourism visits to Dubai due to the global appeal and unique offerings. The MOON will be able to easily accommodate 10 million guests annually.
*The price is valid for 2021
Economic Appeal
Palm Jebel Ali is expected to accommodate 35,000+ families upon completion. It will be perfect for those who want to enjoy ultimate beachside living with a wide selection of leisure and entertainment facilities.
There is a consistent demand for high-spec waterfront properties in Dubai, owing to an inflow of wealthy individuals who choose the emirate as their second home. Judging by the success of Palm Jumeirah, which has become Dubai’s most popular area for luxury homes, Palm Jebel Ali will also have a strong investment appeal for HNWIs and UHNWIs.
That said, according to Bayut & dubizzle, in Q1 2023, the price per sq. ft for apartments on Palm Jumeirah grew by a thumping 8.7% as compared to Q4 2022. Currently, the average cost per sq. ft on Palm Jumeirah stands at AED 2K (USD 544). Such a surge in the property value is attributed to a shortage of high-end beachfront units in Dubai, and real estate on Palm Jebel Ali will help to meet the demand.
The tourism sector will also feel the effects of Palm Jebel Ali, as the project will create numerous job possibilities in new resorts, hotels, etc. Thanks to the development’s unique offerings, such as the MOON described earlier, short-term rental properties here will be in strong demand among visitors to Dubai.
*The price is valid for 2021
Popular Properties
As of Q2 2023, Palm Jebel Ali houses just land plots for sale. You can acquire a mixed-use waterfront plot of 81,086 sq. ft for AED 50M (USD 13.6M). This is the perfect option for institutional investors, as it allows for the construction of a G+14 building with apartments and retail space.
*The price is valid for 2021
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