VIDEO: First phase of Palm Jebel Ali villas sold out within hours
A view of a villa in Dubai.
Gulf Today has learned from informed sources that Nakheel sold the entire supply of the first phase of Palm Jebel Ali villas, within just hours of opening reservations on Wednesday.
From 6 am, buyers and investors of various nationalities competed at the Nakheel Properties sales center, located at the entrance to Palm Jumeirah, to win opportunities to own a luxury villa or a plot of empty land within the newest waterfront urban development areas in Dubai.
The waiting queues extended in front of Nakheel Center until they reached the external courtyards and parking lots, in light of the large turnout during the day designated for the investor and public, two days after the first phase was presented to VIPs, companies and brokers accredited and registered with the company.
Nakheel presented the first phase of the project, which includes villas and large plots of land, with prices starting from Dhs18.5 million for the smallest villa, and in some villas reaching Dhs45 million.
That means the selling price per square foot of the building ranges between Dhs2,466 and 3,916 per square foot.
As for the sale prices of limited vacant lands, with areas starting from 13,500 square feet, they touch the barrier of Dhs1,800 per foot.
Nakheel has offered 4 full fronds, while it is expected to begin delivering villas ranging from 5 to 7 bedrooms, all consisting of a ground floor and first and second floors, starting in 2027.
Brokers told Gulf Today, a sister publication of Al Khaleej that hundreds of villas were offered within the first phase, while a number of land plots were sold for about Dhs40 million each, indicating that some land plots are still available within this stage.
The new plan for the “Palm Jebel Ali” development project is one of the basic projects that serve the goals of the “Dubai Urban Plan 2040” and one of the ambitious urban projects with the future vision of the Nakheel company.
Palm Jebel Ali extends over an area of 13.4 square kilometers, equivalent to twice the size of Palm Jumeirah, and will include large green spaces and innovative experiences on the waterfront.
It will add an additional coastline of about 110 kilometers to the city of Dubai, providing distinctive living with a seaside view for about 35,000 families.
The Palm Jebel Ali project will include more than 80 hotels and resorts, in addition to a wide choice of entertainment, leisure and recreation facilities that will contribute to enhancing the tourism sector in Dubai, as well as distinguishing the group of islands as an ambitious residential destination in the city.
