When the Palm Jumeirah and Palm Jebel Ali were master-planned, the developers didn't realise one major fact: the investment demand on the unique properties. By the time it was 2004, just two years after the Palm Jumeirah was launched, investors were running out of opportunities available on the world's latest man-mad marvels. So, as a way to appease the disappointed investors, the Palm Deira was born.
In 2005, the construction began on the Palm Deira, which is the largest palm island out of the three similar developments. Instead of the usual 17 fronds, this palm island will have 18, deviating from the original plan to include 41 fronds. Covering approximately 120 square kilometres in area, the Palm Deira will be home to hundreds of residential properties, marinas, sports and leisure facilities, shopping complexes, nightlife venues and business districts.
The residential regions are to be located on the 18 fronds, including 8000 units of two-level residences. These residences are defined by design and include Premier Villas, Vista Town Homes and Grand Villas. The Palm Deira is slightly elongated in design, when compared to the other two palm projects. This is because there was quite a considerable change in the Gulf sea depth after the development was planned. The adjusted design in 2007 requires the new look it has now. The Palm Deira is expected to be completed in 2015, although a more realistic completion date would be 2020, because of the current market conditions.
The Palm Deira is eight times bigger than the original palm island, the Palm Jumeirah. The island is too large to be completed within a few years, unlike the Palm Jumeirah. It's being developed in several small phases and at the moment, only parts of the infrastructure is fully finished. A bridge connecting to the mainland via Al Hamriya Port and Dubai Creek and some areas of the Deira Island Front are now complete. Other phases to complete over the years include the remaining Deira Island phases – Mamzar, North, South, Central and Trunk - as well as the Palm Crown, Fronds and Crescent.
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