Developer Nakheel, already famous for creating the Palm Jumeirah in Dubai, has launched its first-ever beachfront villa project on the Palm Jebel Ali, in response to strong demand for luxury residences in the emirate.
The project, which will take place on four arms of the island, will offer two types of villas: coral villas and beachfront villas, available in eight different styles, the company announced on Monday. The villas “are inspired by the beauty of nature” and will offer floor-to-ceiling windows overlooking private beaches, she said.
The development will offer residents an “active lifestyle with wide, pedestrian-friendly streets, allowing pedestrians and cyclists to access the beach through recessed parks”.
The company did not provide a timetable for the project, nor details of pricing. The launch of this project follows the presentation of the new master plan for the development of the Palm Jebel Ali by Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, in June.
“We’re delighted to bring Palm Jebel Ali to market at this exciting time, with the island playing a transformative role in shaping the city’s future, raising the global standard for beachfront living,” said Rasha Hasan, Nakheel’s Commercial Director.
The villa project involves the collaboration of several international and regional architectural firms,” says Nakheel.
Dubai’s real estate market has rebounded dramatically from the downturn caused by the coronavirus pandemic, supported by government initiatives such as residency permits for retirees and remote workers.
Dubai’s luxury residential market is set to record the world’s highest growth rate, at 13.5% in 2023, according to a Knight Frank report published in May, driven by a supply-demand imbalance and positive economic growth.
In the first quarter of 2023, sales of luxury homes in Dubai reached 6 billion dirhams ($1.63 billion), with 88 units worth more than $10 million purchased by wealthy buyers, Knight Frank reported.
When completed, the Palm Jebel Ali will be twice the size of the Palm Jumeirah and will comprise seven islands and 16 arms, adding around 110 kilometers to Dubai’s coastline.
It is expected to offer seaside residences, green spaces and other amenities to 35,000 families, as well as 80 hotels and resorts.
The project also marks the start of a new growth corridor in the Jebel Ali region, underlining the emirate’s expansion in line with the Dubai Urban Master Plan 2040 and the Dubai Economic Agenda D33, Nakheel added.
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