Palm Jebel Ali: Nakheel announces the resumption of the project
The Emir of Dubai, Sheikh Mohammed Bin Rashid Al Maktoum, was present in person at the announcement, made with great fanfare by Nakheel. Palm Jebel Ali project relaunched! Already fully built, the Palm Jebel Ali is around twice the size of the Palm Jumeirah, one of Dubai's most iconic destinations. With the relaunch of this pharaonic project, Dubai is once again showing its ambition. Dubai Immo tells you more about the initial information, and the opportunities that should open up to investors.
What is Dubai's Palm Jebel Ali?
Built at the same time as the Palm Jumeirah in the early 2000s, the Palm Jebel Ali is also an artificial island in the shape of a palm tree. Located in the south of Dubai, close to the Al Furjan district and Jebel Ali, the island is around twice the size of the Palm Jumeirah. Like Palm Jumeirah, which is one of Dubai's must-see destinations, Palm Jebel Ali is designed to accommodate both residential and hotel developments. The Palm Jebel Ali will boast 110 kilometers of beaches, and will therefore be able to considerably increase the real estate offer facing the sea. Nakheel, a government-owned real estate developer, is behind the project.
Palm Jebel Ali launch video with the Emir of Dubai
Discover this superb video realized by Nakheel, which perfectly transcribes the event that represents the launching of the Palm Jebel Ali.
Palm Jebel Ali at the heart of the Dubai 2033 and Dubai 2024 plans
The Dubai government's ambition is to double the emirate's economy between 2023 and 2033. A huge, magnificent urban development plan has also been announced by the authorities, and Palm Jebel Ali has a rightful place in it. With its 30% renewable energy and state-of-the-art means of transport, Palm Jebel Ali Dubai will be right at the heart of this strategy. Palm Jebel Ali is designed to accommodate over 35,000 families, in addition to the numerous hotels that will meet the ever-growing demand for tourism. Al Maktoum Airport, built not far from the Palm Jebel Ali and Al Furjan, as well as Expo City, will contribute to the development of this still little-known part of Dubai.
What real estate developments are planned for Palm Jebel Ali?
According to our information, three types of real estate development are planned over the next few years. The construction of 80 hotels has already been announced by the authorities, and major international groups have already expressed their interest. Numerous luxury hotels are expected to spring up on Palm Jebel in the next few years. Luxury villa developments with private beaches and luxury apartment blocks are also planned.
How to buy an apartment or villa on Palm Jebel Ali?
Initially, priority should be given to members of the royal family, Emiratis and people who had already invested in 2002 and had seen the project suspended. Marketing should be open to international investors in the course of 2023. Whether you're looking to buy a villa on Palm Jebel or apartments with sea views, Dubai Immo will be able to offer you the best investment options. We have an excellent relationship with the developer Nakheel, who will lead the project. Other developers may also secure land in the course of the year and be in a position to launch their real estate projects too.
Why invest in Al Furjan and Jebel Ali Dubai?
These are the closest neighborhoods to the Palm Jebel Ali, and they are very well connected, whether by road or public transport. Indeed, the metro is already well established in Al Furjan and Jebel Ali, with several stations already operational. It's very easy to reach Downtown or Dubai Marina from Al Furjan and Jebel Ali via the metro. No doubt the same will be true between Palm Jebel Ali and Al Furjan. As the employment pool continues to grow in this area, rental investments should prove particularly profitable in the years to come.
