Less than one year after sales were opened Nakheel Thursday announced that all villas on the second of The Palm islands known as The Palm, Jebel Ali have been sold. Some 2,000 Signature Villas, Garden Homes and Town Homes in total have now been sold. In addition to the villas, Nakheel has also announced that 58 apartment plots have also been sold to property developers.
“We have witnessed a major surge in buying on The Palm, Jebel Ali over the past few months,” said Sultan Ahmed bin Sulayem, Chairman of Nakheel. “The opportunity to own a part of this unique and iconic project has proven to be enormously attractive for people locally, regionally and around the world. The Palm, Jebel Ali is living up to its promise in becoming a truly international destination.”
Located some 22 kilometres and 17 minutes by boat from The Palm, Jumeirah this second island will also be based around the shape of a palm tree, with a Trunk, 17 Fronds and Crescent forming the breakwater. The Palm, Jebel Ali is 50 percent larger than The Palm, Jumeirah and fundamental changes and additions to the concept design include Water Homes built on stilts, which will form a chain between the Fronds and the Crescent; the extension of the Crescent size to 15.5km with a break at the top for boats to enter; the modification to the ends of the Crescent to include ‘fingers’ whereby the luxury apartment blocks will be located.
The Palm, Jebel Ali will also have some six marinas and a ‘Sea Village’ with underwater attractions, based on the Trunk of the island. It is certain to become a tourist hotspot for young and old alike. Eight hotels up to eight storeys high and with a maximum of 400 rooms will provide unsurpassed ocean views and proximity to the leisure activities of the ‘Sea Village’.
“Purchase on The Palm, Jebel Ali has broadly followed the pattern of The Palm, Jumeirah in terms of the profile of the people buying and the purpose for which they are buying,” said bin Sulayem. “We have though seen a significant increase in the number of overseas buyers. We attribute this to the increasing awareness of the tremendous opportunities that are available in Dubai for those interested in purchasing property in a safe environment with access to world class amenities and excellent international connections.”
With construction of the island already underway, the project, which is estimated at US $2 billion for the first two stages of reclamation and infrastructure, is expected to be completed towards the end of 2007. (menareport.com)
© 2004 Mena Report (www.menareport.com)
