Saturday, November 15, 2008

A Star With Worldwide Fame – The Palm Jebel Ali, Dubai

Dubai Islands: A Star With Worldwide Fame – The Palm Jebel Ali, Dubai

The Palm Jebel Ali is non other than the sister project begun immediately after the Palm Jumeirah development was launched. This second palm island is expected to provide accommodation to 1.7 million residents by 2020. From the three palm islands belonging to the massive land reclamation project, Palm Jebel Ali is the mid-sized development and will primarily be an entertainment and leisure-oriented venue. Upon completion in 2015, the Dubai Palm Jebel Ali will be among the highest tourism revenue-generating locations in the Middle East.

Located on the Dubai coast, jutting out from the Jebel Ali area, the artificially created geographical and infrastructural marvel is shaped as a date palm tree, a staple of sustenance in ancient Arabia. A trunk, a crown and 17 fronds make up the island. The trunk holds the majority of lifestyle venues, while the crown acts as the breakwater and the fronds are mostly residential communities.

The Palm Jebel Ali has attracted international attention mostly because of its 'water homes' concept. The water homes are built on stilts based on concrete foundations under sea level. All of the water homes are located between the palm's fronds and crown. Six marinas, water theme parks and a sea village are all to be included in the completed Palm Jebel Ali. Luxurious garden villas and signature villas are available as residential units, all of which face private beaches.
Beyond the island's residential and entertainment aspects, the Palm Jebel Ali is an incredible real estate investment opportunity as well. Many expatriates have chosen to live and retire here, but more than that, many have purchased units and complexes with the idea of reselling. Currently, the least expensive property unit (1 bedroom apartment) sells for a rate over $400,000. The beach front residences and water homes are priced between $1.5 million and $5 million.

The selection of apartments, penthouses and town homes on the trunk will stretch beyond the original Palm, and include exclusive sub-developments from global names in property. Perhaps the newest addition to the selection of freehold property in the Jebel Ali Palm is the development of water homes. These unique properties will be built on stilts and will be set out over the Arabian Sea, for a truly unique living experience. The location of the Palm Jebel Ali will be a bit further out from the city, right in heart of Jebel Ali and in close proximity to other freehold properties, with the intention of expanding the city even more.

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