Palm Jumeirah is a renowned landmark in the Emirates and the world's largest artificial palm-shaped island, created by the real estate developer Nakheel. It is one of Dubai's most prestigious areas, featuring residences, hotels, and all necessary infrastructure. Here, we present the types of real estate you can purchase on Palm Jumeirah.
Covering an area of 5 x 5 kilometers, Palm Jumeirah consists of a 2-kilometer "trunk," 16 "fronds," and a crescent-shaped breakwater surrounding the palm tree. Downtown Dubai attractions, including the Burj Khalifa and the animated fountains of Downtown, are just a 20-minute drive from the island.
Palm Jumeirah's infrastructure continues to evolve. The island already boasts several beach clubs with pools, gyms, and restaurants. There is also a variety of five-star hotels, including the famous Atlantis the Palm in Dubai, featuring the Aquaventure water park, a dolphinarium, a sea lion observation center, and an underwater museum with over 65,000 marine creatures.
Shopping options are plentiful on Palm Dubai: in addition to the large Golden Mile Galleria mall, which includes a fitness center, shops, and restaurants, there is Nakheel Mall, with over 300 shops, a 15-screen cinema, a cafe, and a terrace overlooking the Persian Gulf.
Palm Dubai has health centers, dental clinics, and even a hospital (Emirates Hospital). However, it lacks educational institutions: there is only JINS Palm Jumeirah, a developmental center for children aged 0 to 6, and a nursery, both located in the Golden Mile Galleria. Currently, there is no school on the island. However, you can find some excellent educational institutions, including international ones, in neighboring areas.
The island is primarily designed for a family lifestyle. Due to the relative lack of infrastructure, Palm Dubai has a more relaxed environment than other neighborhoods.
Palm Jumeirah, also known as The Palm Dubai, is one of the most popular neighborhoods in Dubai among expatriates and investors, but it is also one of the most expensive. The villas and apartments on the island are considered elite real estate. The price range is wide: from $295,000 to $12 million and more. All real estate is freehold, meaning it can be purchased by foreigners.
The real estate market on Palm Jumeirah primarily consists of villas and townhouses located on narrow "fronds," providing beach access to all. In the central part of the island, on the trunk, there are residential complexes where studios and apartments with varying numbers of rooms can be purchased.
Real estate on the island is a good investment. It will be highly sought after as there is no room for growth, and the number of properties is limited by the size of the island.
Residential complexes on Palm Jumeirah can be found along the trunk near the island's entrance and on the crescent. Shoreline, Serenia, Palm Views, The Fairmont Residences, Palme Couture, The Golden Mile, Tiara/Oceana, FIVE Palm, One at Palm Jumeirah, Marina Residences, The Palm Tower, Muraba, and W Residences are among the most famous ones.They are roughly the same in all complexes: a two-bedroom apartment will cost from AED 2 million ($544,500) without a sea view and from AED 2.5 million ($680,700) with a sea view.
Apartments in Serenia Living, situated on the breakwater, begin at AED 5.5 million ($1.5 million), while prices for apartments in the Royal Bay complex by Azizi Development, currently under construction on the beach of one of the crescents of the island, commence at AED 2.3 million ($626,200). Nevertheless, there are also pricier alternatives available.
Rent on Palm Jumeirah is approximately $16,000 per year for a studio. For $28,000 per year, you can rent a one-bedroom apartment, and $34,000 for a two-bedroom apartment. The annual rent for a three to five-bedroom apartment ranges from $43,000 to $150,000.
In total, Palm Jumeirah has over 4,000 exclusive villas, all located in gated communities, with the most expensive one sold in 2022 for AED 598 million ($163 million).
Nakheel, the developer of the island, presents two villa options—Signature Villas and Garden Homes—along with Canal Cove townhouses. These villas, ranging from three to seven bedrooms, feature amenities such as beach access, private pools, two-car garages, and extra parking space in driveways. The average cost for a three-bedroom house on Palm Jumeirah is AED 8 million ($2.2 million), a four-bedroom house is priced at AED 11.5 million ($3.1 million), and a five-bedroom house comes in at AED 15.5 million ($4.2 million). The most expensive villas are typically situated at the end of the "fronds" of Palm Dubai.
In addition to the standard villas, plots were available for purchase early on the island, allowing some buyers the chance to design and customize their homes. Palm Jumeirah boasts incredible custom villas known for their uniqueness and high-quality finishes, making them quite costly. The crescent surrounding Palm Jumeirah is predominantly occupied by hotels and residential complexes, some of which offer villas for individual purchase or under trust management for rental purposes.
Notable examples include private villas within the Kempinski Hotel and Residences, Jumeirah Zabeel Saray, Balqis Residences, and XXII Carat Villas. These villas feature the world's most expensive bathtubs, crafted from rock crystal and valued at approximately $1 million each. If you're considering real estate investment in The Palm Dubai, don't hesitate to reach out to our real estate agency at your earliest convenience.