One of the latest Island developments in Dubai is the Palm Jebel Ali exclusive project. This project has succeeded in generating ground ground-breaking record of sales which surpassed AED 5 billion. Properties for Sale in Palm Jebel Ali contributed significantly including property types of villas and houses. As the real estate market is witnessing the marvel being unleashed in the iconic Islands of Dubai, the project saw an unprecedented surge in sales within two months only.
Reason Properties for Sales in Palm Jebel Ali Generated AED 5 Billion in Sales
There are various reasons due to which the net worth of this prestigious property of Palm Jebel Ali villas and houses surpassed the staggering mark of AED 5 billion. Let’s discuss some of the drivers that have supported this exquisite project to generate such massive sales.
Strict Requirements of Palm Jebel Ali Sales
There are strict rules and policies regarding the Palm Jebel Ali (PJA) 20% down payment which buyers have to pay. This has resulted in contributing to the actual total sales value near AED 1 billion, as reported by REIDIN & GCP Group.
Besides, the reputation and status of Palm Jebel Ali also increased with the significant contribution PJA made to Dubai real estate. According to the reports PJA added over 10% of all property sales in Dubai whose value exceeds AED 18 million. This feature of Palm Jebel Ali Premium Villas resulted in a decline in sales for the luxury communities that otherwise have recorded higher volumes.
Launch of the Mansions
Seafront mansions are expected to be launched in the near future, featuring private beaches for the astonishing price of AED 50 million. This imminent launch will further elevate the price of the property to unprecedented levels.
These luxury residential villas and mansions also clearly represent the vision of Nakheel Properties which is the developer of Palm Jebel Ali.
Likely to Join Luxury Residential League
Another driver that has led to AED 5 billion in sales for Palm Jebel Ali is the luxury residential league. With exceptional amenities and extraordinary facilities for the occupants, PJA is on track to join the ranks in the Luxury residential offering including Palm Jumeirah and Bluewaters Island.
Figure 3 Luxury Residential project of Palm Jebel Ali
Palm Jebel Ali villas now have predominantly featured five and seven-bedroom villas. The price range for this ranges from an impressive AED 18 million to AED 45 million.
In the Limelight
As the United Arab Emirates is gearing up to host the COP28 summit, the global spotlight is clearly projected on the nation which is expected to further fuel the demand. The real-estate sector particularly Palm Jebel Ali is making buzz in this regard leading to exclusive.
When Palm Jebel Ali Homes will be delivered?
The sellers promise to hand over the property to the buyers by late 2027. The payment plan for the luxury properties for sale in Palm Jebel Ali clearly reflects the handover perspective. Besides the 20% payment initially, the remaining payment of 10% is required in instalments across the project cycle and finally 20% on handover.
One of the estate agents stated:
“There have been no Palm Jebel Ali island home sales that provide post-handover payment possibilities,”
He added:
“The developer is maintaining a tight construction schedule – and it helps that 20 per cent is already going into escrow. As new releases come in, Palm Jebel Ali will continue to dominate the top end of the Dubai property market. It will be difficult to break that hold.”
Palm Jebel Ali Sale Skyrocketing
The overall progress and the skyrocketing aspect of Palm Jebel Ali created the unique value proposition of this project. The Palm Jebel Ali has always been one of the favourite destinations for investors, capitalists and businessmen. With its growing popularity, it is important to understand the aspects that are leading to the excessive net worth of the project, to invest proactively.
Besides, the lifestyle and the recreational facilities Pal Jebel Ai offers are unmatched and make this exclusive place an ideal place destination for buyers. Villas for sale in Palm Jebel Ali are world-class and offer exceptional life experiences, leading to the staggering price.
Conclusion
Palm Jebel Ali villa project is heading to cross the mark of AED 5 billion in sales. Not because of the prestigious property developer Nakheel, but there are various factors of it. Strict rules of the 20% initial payment on a booking, the exclusive and strategic location of the project, luxury amenities, increasing demand for the project, and the extraordinary status of luxury residential living are all factors contributing to the success of Palm Jebel Ali. These drives led the project to cross the sales record of AED 5 billion in just two months of the initial launch. Properties for sale in Palm Jebel Ali are liked by investors and the project has also sustained this status.
