One of Dubai’s most striking locations has just got even more impressive. The recent launch of the AED1.2 billion Nakheel Mall on Palm Jumeirah marks a new dawn for the island, with the shopping and entertainment site expected to become the major centerpiece of the incredible location.
Hopes are high that the mall will provide plenty of convenience for the estimated 78,000 residents on the island, with it featuring a 15-screen cinema complex as well as a host of leading brands including H&M and even its very own monorail.
Photo source: Palm Jumeirah
A whole new level
The opening of the development is undoubtedly another major moment for Palm Jumeirah, an area which has understandably attracted a huge amount of attention since construction first began all of the way back in 2001. As its developer Nakheel explains, it is one of the world largest man-made islands and covers an incredible 560 hectares of land.
Facilities on the island were already first-class, but the new mall looks set to take such matters to a whole new level. Furthermore, the availability of such quality entertainment, shopping and dining is only likely to increase interest in property on the island and the potential options available for both renting and buying.
But, if you were looking to move to Palm Jumeirah, which areas should you consider looking at first? Here we examine the three areas on the island which attract the most searches, according to the UAE property site Bayut.
1. Signature Villas
Located on the fronds of Palm Jumeirah, the Signature Villas are as stylish and luxurious as you would ultimately expect. According to Bayut, there are more than 400 villas within the sub-community, with rental prices ranging from AED450,000 to AED2,000,000. Furthermore, sale prices are thought to rise up to in the region of AED69,000,000. The villas tend to have five or six bedrooms and feature first-class facilities.
2. Garden Homes
The Garden Homes project was completed in 2007, and the properties are available across several of the island’s impressive fronds. The homes tend to feature four or five bedrooms, with annual rent rates for the latter known to rise to AED485,000. If you would be interested in buying, the price of villas can vary significantly, but Bayut suggests they could be worth between AED7,900,000 and AED31,200,000. The sub-communities would be ideal for fitness enthusiasts, with dedicated jogging tracks situated nearby.
3. Canal Cove
Bayut outlines that Canal Cove consists of more than 100 homes, with the properties being based across various fronds on Palm Jumeirah. Three- and four-bedroom townhouses and villas are available, with purchase prices for them going all of the way up to AED9,000,000. The homes are also divided into clusters of between six and 12, with each community including a small park which is shared by its residents.
The life of luxury
Dubai is a city rich in treasures, but since its launch, it would be fair to say that Palm Jumeirah has always been one of the jewels in its crown. Now, with the opening of the new mall, interest in the properties available on the island is only likely to build once again. The areas mentioned above are hugely sought-after and it will be fascinating to see whether sales increase following the recent developments.