Dubai’s Nakheel has introduced its inaugural villa project on Palm Jebel Ali.
These beachside residences have been unveiled following the announcement of a new master plan for the mega development in June.
Nakheel, the developer responsible for The Palm Jumeirah in Dubai, has initiated the first waterfront villa project on Palm Jebel Ali due to the high demand for luxury homes in the emirate.
The project will be situated on four fronds of the island and will offer two villa types – coral villas and beach villas – with eight available styles for each, according to the company’s Monday announcement.
The villas are designed to “draw inspiration from the beauty of nature” and will include floor-to-ceiling windows providing views of the private beaches.
The development will offer residents an “active lifestyle with wide walkable streets, allowing pedestrians and cyclists to access the beach through pocketed parks.”
No timeline for the project or pricing details have been provided.
The launch of this project follows the revelation of a new master plan for the Palm Jebel Ali development by Sheikh Mohammed bin Rashid, Vice President, and Ruler of Dubai, in June.
“We are thrilled to bring Palm Jebel Ali to the market at this exciting time, with the island playing a transformative role in shaping the city’s future and raising the global standard for waterfront living,” said Rasha Hasan, Chief Commercial Officer of Nakheel.
The villa project involves collaboration with several international and regional architectural firms, as stated by Nakheel.
Dubai’s property market has experienced a strong resurgence following the slowdown caused by the coronavirus, aided by government initiatives such as residency permits for retired and remote workers.
The luxury residential market in Dubai is projected to record the highest growth rate globally in 2023, at 13.5%, driven by a demand-supply imbalance and positive economic growth, according to a report by Knight Frank in May.
In the first quarter of 2023, luxury home sales in the emirate reached Dh6 billion ($1.63 billion), with wealthy buyers acquiring 88 units valued at over $10 million, as reported.
Upon completion, Palm Jebel Ali will be twice the size of Palm Jumeirah and will feature seven islands and 16 fronds, extending Dubai’s coastline by about 110km.
It is expected to offer beachside residences, green spaces, and other amenities for 35,000 families, along with 80 hotels and resorts.
This project also marks the commencement of a new growth corridor in the Jebel Ali area, highlighting the emirate’s expansion in line with the Dubai 2040 Urban Master Plan and the Dubai Economic Agenda D33, Nakheel stated.
Publish Date: September 18, 2023
Source: https://www.thenationalnews.com/business/property/2023/09/18/dubais-nakheel-launches-first-villa-project-on-palm-jebel-ali/