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In Dubai, a new area of luxury real estate will appear on the artificial archipelago of Palm Jebel Ali. This was announced by His Highness Sheikh Mohammed bin Saeed Al Maktoum, Vice President and Prime Minister of the UAE, Ruler of Dubai.
Palm Jebel Ali will be about twice the size of the elite Palm Jumeirah area. In Palm Jebel Ali, the coastline will be 110 km long. There will be 80 hotels and many houses by the sea on the island. It is assumed that about 35,000 families will live in the houses. It is also known that a third of the entire infrastructure of the district will be powered by renewable energy.
Experts expect that the new area will attract a large number of wealthy investors from around the world. This is facilitated by the high demand for real estate by the sea, as well as the growing luxury real estate market.
The artificial archipelago of Palm Jebel Ali began to be created in October 2002. Initially, the project was planned to be completed by 2008, but due to many difficulties, the deadlines were constantly shifting In the period from 2009 to 2011, the main developer, Nakheel company, began to offer investors first real estate in its other projects, and then a refund.
For many years, the project was frozen. But in September 2022, the first rumors about the relaunch of Palm Jebel Ali appeared. This was facilitated by the influx of foreign investment and the growing popularity of Dubai among wealthy foreigners.
