Palm Jumeirah is an artificial island in the United Arab Emirates known worldwide. It is often called the eighth wonder of the world since its construction had substantial material costs. The island is shaped like a palm tree, the top of which is decorated with a crescent. The island traditionally attracts tourists and many foreign investors are eager to invest in real estate in Dubai and here specifically since it is in high demand and has a high profitability index. Property in the area is associated with luxury and wealth as it belongs to the premium class.
Technological building (IT technologies)
The island of more than 550 hectares is connected to the mainland by a 300m long bridge. The beaches near Palm Jumeirah are famous for their pure sand. Some of them belong to specific residential complexes or hotels. The villas have private beaches. Common areas are equipped for a comfortable stay. You can walk along the marina in any part of the community.
The area is known for its architecture and access to the coast. The entrance for tourists is free. Human hands created Palm Jumeirah. The area itself includes several private sub-communities:
- The “trunk” unites a community from various continents. Several residential complexes with premium apartments have been built there. The developer has taken care of the comfort of the apartments and the general infrastructure. Every building has everything you need for a comfortable life, from swimming pools to gyms and beauty salons.
- The “crown” includes 16 branches. The branches are equipped with motorways, making it easier to move around the entire territory. Houses are in development directly along the road so there are no difficulties getting there.
- The “crescent” at the top houses the famous Atlantis The Palm hotel.
There is a large selection of housing in the district. In addition to residential complexes in the central part, there are elite villas on the branches. This makes it easy to find the answer of where to live in the community. There are properties for sale as well as many rental properties.
There is no definite answer to when the Palm Jumeirah was built. The project began in 2001 by the largest developer in the UAE, Nakheel. This Arab construction organization created the first artificial island while simultaneously extending the coastline of Dubai from less than 100 km to 1,500 km.
The island’s construction lasted for several years and thereafter 4,500 residential and commercial buildings were developed on the artificial part of the embankment. Among them are gated communities of villas, residential complexes, hotels, shopping centers, cafes and restaurants. The island is based not on metal structures but natural materials, making it as natural as possible.
Among the residential complexes, the following are in high demand:
- Shoreline, which includes 20 buildings. It has its beach area, where there are 5 beach clubs with swimming pools, restaurants, gyms. The windows of the apartments offer a spectacular view of the Persian Gulf.
- Golden Mile contains not only about 780 apartments but also villas. The lower floors are reserved for shops, shopping centers and restaurants. All apartments have an exclusive layout. The owners have parking spaces and can also use the yacht berth.
- One Palm is a new residential complex containing 94 residences up to 2,778 sq. m. It is located 50 m from the sea. It offers the owners a landscape to walk in, recreation areas, a private beach, a yacht pier, a gym, and outdoor and indoor pools. Inside there are exclusive finishes using expensive materials.
- Royal Atlantis Resort & Residences is a 46-story building located on the first line. The area of the complex is 10 hectares. Gold leaf, marble, porcelain and other expensive materials are used in the interior decoration of the residences, allowing you to get an exclusive interior.
Conclusion: there are both already commissioned residential complexes and new buildings expected in the foreseeable future.
Premium housing is priced accordingly. However, if we draw an analogy with apartments of a similar size in other large cities of the world, it can be seen that it is more profitable to buy Arab real estate. The average prices in AED are listed below:
- A studio apartment can be purchased for 780,000.
- A 1-bedroom apartment for sale for 1,600,000.
- 2-bedroom apartments start at 2,300,000.
- Apartments with 3 bedrooms are being sold for 4,000,000.
- The price of housing with 4 or more bedrooms reaches 13,000,000 and more.
A 1-bedroom villa can be purchased for 2,400,000. 2 bedrooms are more expensive and start at 3,500,000. A standard 3-bedroom is priced at 6,700,000 and above. The most expensive villas are with 7 bedrooms, going as high as 50,000,000.
The housing in the community belongs to the freehold zone. This allows foreign citizens to acquire real estate ownership and dispose of it at their discretion by selling, renting, donating, or bequeathing. The demand for housing is relatively high.
Until 2020, the market felt the impact of the global pandemic sharply. The situation changed in the second half of 2020 as the demand for housing began to grow while prices began to simultaneously rise. Analysts point out that a similar picture will likely continue next year so it is more profitable to invest in housing without delaying a decision. Apartment prices in Dubai will rise.
The community has a large selection of rental properties. Their price is calculated per year of residence and is as follows:
- A studio can be rented for AED 58,000.
- 1-bedroom apartments are offered for AED 100,000 and above.
- 2-bedroom apartments start at AED 120,000.
- An apartment with 3 bedrooms can cost 160,000 and 4 bedrooms from 300,000 dirhams.
These prices are averages since the final cost is directly related to the degree of comfort of a particular space. There is practically no maximum threshold. A lot depends on the type of housing chosen. A 4-bedroom apartment is cheaper than a 5-room penthouse rented for AED 500,000. At the same time, a villa with 2 bedrooms can be rented for 200,000 dirhams. A 5-bedroom house will cost 450,000. Villa prices in Dubai, including those with 7 bedrooms, reach AED 1,000,000.
The ROI on rental properties can be as high as 5%. The highest index is for studio and 1-bedroom apartments. They are in demand by both tourists and foreign citizens who come to the country to study or work. The lowest profitability index is for villas with 6 and 7 bedrooms at 1.6-1.9%.
Along the “trunk” of the island in residential complexes, there are branches of supermarket chains. Among them are Allday Fresh, Choithrams, Cherry Express, and Spinneys. A freestanding mall with 4 floors is called the developer. There are many retail outlets and a large cinema in the Nakheel Mall.
In addition to shopping, there is plenty of walking and entertainment in the area. The main attraction of the community is the singing fountain. Plenty of entertainment can be found at the Golden Mile Galleria. There are about 70 stores from world brands, a fitness club, restaurants and cafes. For other shopping malls, the largest are Dubai Marina and Dubai Mall that residents can reach in 20-30 minutes by car.
Shopping is inextricably linked with a pastime of the desire to eat. The best restaurants delight with a variety of flavors. The following are highly rated:
- Nobu, where Japanese cuisine is served in a fusion format to influence the taste and creative appearance.
- Social by Heinz Beck is a unique project from a chef with 3 Michelin stars. Italian gourmet cuisine here breaks traditional notions of pizza or pasta.
- This restaurant serves Arabic cuisine. A unique feature of the institution is the possibility of booking seats both indoors and on the veranda, from where a beautiful panoramic view opens up.
- Stay is another Michelin-starred restaurant. It serves classic French cuisine.
The list goes on and on. A large number of restaurants and cafes are located in each of the clusters of the sub-community.
Blossom kindergarten is open for young children and adheres to the British education system. The Redwood Montessori Nursery is also open for children. This famous school places emphasis on the creative development of the individual.
Secondary educational institutions in the sub-community are not provided. However, neighboring communities offer some choices. You can send your child to the International School of Choueifat or the American School of Dubai. They are a 10-minute drive away.
Higher education is available in the Knowledge Park community. Here you can choose both technical and humanitarian directions.
The medical industry in the UAE is considered one of the most developed globally. This applies not only to the technologies and equipment used but also to personnel’s qualifications—the best doctors from all over the world work in the UAE. A full range of services can be obtained from Emirates Hospitals Clinic or Al Das Medical Clinic. Dental treatment is available at Dr. Joy Dental Clinic. Many medical institutions are located on the mainland of the metropolis, which can be reached in 20-30 minutes.
The connection between the mainland and the island is via a bridge by road and monorail—the latter stops at 4 stations. In the future, this route will possibly be expanded. There is also a tram route on the island but most residents use their own or rented vehicles.
Transport and parking are thought out to the smallest detail. Residents in residential complexes have a place reserved for their cars; villas have garages or parking lots. Paid parking is available within the city limits. Shopping complexes are equipped with free parking.
Car rentals are also available as in other communities in Dubai. It is enough to have an international driver’s license to rent a car.
The most famous hotel in the community is Atlantis The Palm. It has a 5-star rating and everything you need for a comfortable life, from a pool to a water park. There are also positive reviews from the following hotels:
- Fairmont The Palm, with comfortable rooms and a private beach.
- Dukes The Palm has apartments of various sizes and an indoor pool.
This is not a complete list of 5-star and 4-star hotels where you can relax in comfort.
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