An increase in demand for beachside apartments and villas in the city has prompted developer Nakheel to announce that it is reviewing its plans for the Palm Jebel Ali project, which has been idle since 2009.
The project, which is estimated to take years to complete and is 1.5 times as large as the nearby Palm Jumeirah, may close the gap in the supply of waterfront homes that are now available for purchase or rental.
Nakheel said that “The master plan for the Palm Jebel Ali is being reviewed. More information will be made available soon “. The infrastructure that would be required to support the island, which is 15 minutes’ drive west of Dubai Marina, is not yet known. The decision is supported by substantial evidence. Rising Dubai real estate costs are the driving force behind Nakheel’s aspirations. With a total value of almost $6.6 billion, the month of August was the best-performing sales month in Dubai Land Department’s 12-year history. The trend is being led by upscale beachside properties. Real estate brokers claim that their value has increased by 300%. The Palm Jebel Ali’s layout offers thousands more people this chance.