First residential properties on The Palm go on sale
Properties on Jebel Ali’s The Palm project, the world’s largest man-made island, went on sale Saturday, April 19. According to representatives of The Palm there has been a “fantastic response to the launch from people throughout the Middle East and beyond.”
“Within the first two hours of the properties going on sale we had an enormous number of enquiries”, said Saif Sultan Al-Shamsi, commercial managing director of The Palm. In total 2,000 properties went on sale comprising a combination of Signature Series Villas, Canal Cove Town Homes and Garden Homes.
The Palm will also house apartments located on the trunk of the island. These properties, however, will be released for sale at a later date. The Palm involves the creation of the world’s largest two man-made islands known as The Palm, Jumeirah and The Palm, Jebel Ali.
Located just off the coast of the city of Dubai in the United Arab Emirates, the two palm tree shaped islands are expected to contribute to the city’s position as a premier global tourist destination. The project will increase Dubai’s shoreline by a total of 120 kilometers and create a large number of residential, leisure and entertainment opportunities.
The creation of The Palm is a project of grand proportions. Comprised of approximately 100 million cubic meters of rock and sand, each island will eventually support 50 luxury hotels, 2,000 exclusive residential villas, up to 2,400 shoreline apartments, two marinas, water theme parks, restaurants, shopping malls, sports facilities, health spas and cinemas.
Construction commenced in June 2001 after many years of research and planning. Each island will take approximately two years to be completely raised from the sea. A further two to three years will be required to complete the infrastructure and the buildings. The end-result will be the creation of two virtually self-contained communities within the islands. — (menareport.com)
© 2003 Mena Report (www.menareport.com)