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Friday, December 1, 2023

Watch: Dubai real estate agents queue for Palm Jebel Ali villa sales

Dubai’s newest waterfront project, Palm Jebel Ali, has caused a significant stir. Hundreds of real estate agents and potential buyers formed long lines outside Nakheel’s main office, some even camping overnight at the location.

Jeff, an agent from Positive Properties, patiently waited for 13 hours, starting from 8 pm on Tuesday, before the doors opened at 9 am. He successfully secured a villa for his client, but not all his friends who camped with him were as fortunate.

Videos shared by property agents showed the bustling scene, both outside and inside the office, with all available units selling out within hours.

The project featured units on four fronds (M, N, O, and P), each containing between 109 and 165 villas. Prices for these palm-shaped island villas started at Dh18 million, with deliveries expected to begin in 2027.

The highest demand was for 7-bedroom units starting from Dh30 million, offering exceptional value compared to similar properties on Palm Jumeirah.

The launch generated immense interest due to the island’s larger size, longer coastline, and anticipated inclusion of international brands, potentially boosting property values in the area.

The island spans 13.4 square kilometers, twice the size of Palm Jumeirah, with the longest coastline in Dubai. It will eventually consist of seven islands and 16 fronds, offering a total of 91 kilometers of shoreline.

Agents expect more villa units to be released in the coming weeks, driven by the high demand for this modern-design property. Over 80 hotels and resorts, as well as unique retail and dining experiences, will be part of this ambitious project.

Long queues of property buyers were a familiar sight in Dubai before the COVID-19 pandemic, and now, with the property market returning to pre-pandemic levels, investors and buyers are once again lining up for prime real estate opportunities.

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