What’s Special About Palm Jumeirah?
Palm Jumeirah is one of Dubai’s most famous spots. The area gets its name from the fact that it’s an artificial archipelago in the form of a palm tree. It is also the largest man-made archipelago in the world.
The construction of Palm Jumeirah was originally started by Nakheel, now owned by the Dubai government. Other developers joined the construction process as time went on. The master plan was developed by Peacock, an American architectural bureau. The archipelago consists of a trunk, 17 fronds and islands, forming a crescent around the palm.
Photo by Eslam Tawakol (Unsplash)
Several thousand villas were built on the island, and dozens of restaurants and hotels were opened, including Fairmont, St. Regis, Kempinski, and Rixos. The resulting development density turned out to be higher than originally expected; the distance between some of the villas does not comply with contemporary housing standards. Palm Jumeirah now has more than 10,000 permanent residents at a conservative estimate.
Life on Palm Jumeirah is said to be a never-ending vacation. Everyone will find something to their taste. However, there are some shortcomings worth mentioning. For example, luxury real estate near the sea implies the existence of a marina. However, the nearest yacht club in the Dubai Marina area is a 12-minute drive away.
There are no schools on Palm Jumeirah, only international nursery schools and preparatory classes. The closest good schools are a 15-minute drive away.
On the other hand, it is quite convenient to get to the archipelago; Palm Jumeirah is connected to the mainland by a monorail and a bridge.
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How Much Are Luxury Villas in Palm Jumeirah?
Palm Jumeirah is one of the top three areas in Dubai for renting and buying luxury villas and apartments. The area is popular with investors and those who want to make the area their home.
Rent on Palm Jumeirah increased by about 20% in 2022. This attracts investors, particularly those from abroad. Renting a one-bedroom apartment on Palm Jumeirah costs around 146,000 AED per year ($39,800), while a two-bedroom apartment will set you back 186,000 AED per year ($50,650).
You can buy a luxury studio on Palm Jumeirah for between 750,000 AED ($204,450) and 2.4 million AED ($653,600). A one-bedroom apartment costs from 908,000 AED ($247,300) to 15.8 million AED ($4.3 million).
There are more than 4000 villas of various sizes and configurations on the archipelago and you’ll find both traditional Arabic style houses and high-tech villas. There are options for any family structure, from two to 10 rooms. Sizes vary from 370 to 3250 square metres.
The average cost of a three-bedroom luxury villa in Palm Jumeirah is 8 million AED ($2.2 million). A villa with four bedrooms costs 11.5 million AED ($3.1 million), with five bedrooms, 15.5 million AED ($4.2 million). Investors earn from 3.2% to 4.9% depending on the number of rooms.
Projects: Overview and Prices
Palm Villas by Ellington Properties have four bedrooms and an area of around 600 square metres. Each villa has its own pool and garden, as well as an indoor lounge. Villas are already fully finished and furnished, so you can move in right after getting the keys. Prices are given on request.
This ongoing project features luxury villas with five bedrooms, townhouses, two-level villas, as well as flats and penthouses. Future residents will enjoy infinity pools, spas, a concierge service, a gym, and a playground. Apartments and villas are fully finished and furnished. Completion is scheduled for the fourth quarter of 2024.
Flats and villas here vary from 186 to 684 square metres. Prices range from $6.94 million to $12.77 million. You can pay in several stages: 5% when booking, 15% after one month, 20% after six months, 10% after a year, and the remaining 50% when construction is completed.
This is also a mixed development project: it will offer villas, duplexes, and apartments. Property sizes vary from 310 to 586 square metres, prices range from $6.3 million to $11.9 million. Payment in instalments is available: 5% when booking, 20% after signing the contract, 10% one year after signing the contract, 15% after two years, and the remaining 50% after construction is completed. Completion is scheduled for the fourth quarter of 2026.
Villas, duplexes and apartments are fully finished and furnished. The property features a spa, pools, a beach club, a library, a smoking room, a private cinema, and a playground. Project developer Omniyat has been working in Dubai for around 20 years.
Buyers can choose from a wide range of units from studios to four-room apartments or opt for villas. The size of apartments and villas is from 64 to 5844 square metres. Prices range from $434,300 to $44.64 million. The developer is Seven Tides, which has almost 20 years of experience with luxury projects.
All apartments and villas are delivered fully finished and furnished. One of the distinguishing features is floor-to-ceiling panoramic windows. Future residents will have access to a playground, a gym, swimming pools, a spa, a barbecue area, and various smart home applications.
Difference Between Luxury Villas in Different Parts of Palm Jumeirah
Buyers can choose from luxury villas, apartments, and townhouses on Palm Jumeirah. The apartment complexes are built on the trunk of the artificial palm tree, while villas and townhouses are located on the branches and the crescent.
Luxury villas on the crescent of Palm Jumeirah offer their residents an advantage in the form of direct access to the sea. Villas on each of the 17 fronds of the archipelago are very different. The most common are Signature Villas with five to seven bedrooms and Garden Homes with three to five bedrooms.
The branches of the archipelago are indicated by Latin letters. Living conditions are different on each of the branches; there are pros and cons to each of them. For example, the C and E branches have a more stable water supply, while villas on the K, L and M branches are closer to the bridge, giving a logistical advantage.
It’s also worth paying attention to the numbers of the villas. Even numbers are suitable for sunrise fans, as they get most of the sunshine in the morning. Villas with odd numbers are for those who prefer to enjoy sunsets.
In a Nutshell
There are more than 4000 luxury villas of various sizes and configurations on the artificial archipelago of Palm Jumeirah. You can pick up a house in traditional Arabic style, a high-tech villa, or more neutral options. The area attracts investors and those looking to make the area their home as property prices and rents continue to rise. The annual yield of luxury villas on Palm Jumeirah is from 3.2% to 4.9%.
Cover photo: Anantara The Palm Dubai Residences