Dubai real estate developer Nakheel is reportedly planning to relaunch and rebrand the Palm Jebel Ali project. According to sources, a new name will be given to the project for its relaunch.
The Palm Jebel Ali masterplan is being re-evaluated, according to a Nakheel spokesperson. More information is expected soon.
When Palm Jebel Ali has launched 20 years ago, it was 50 percent larger than Palm Jumeirah. The project began in 2002, but was suspended in 2008, and has not been re-started. A freeze has been in place on Palm Jebel Ali since about mid-2008.
As part of Nakheel’s “Happiness is no one thing” marketing campaign, the real estate giant unveiled a new logo last week.
Deira Islands was the name Nakheel gave to Palm Deira last month, but Dubai Islands eventually replaced it.
A statement issued by Dubai Islands (formerly known as Deira Islands) in August this year emphasized the emirate’s role as a global destination for residents, visitors, and investors.
Dubai Islands, located along Dubai’s northern coast, consists of five islands covering an area of 17 square kilometers. On each island, innovative living experiences will be available, as well as cultural hubs, recreation sports beaches, and beach clubs. It will be easy to access the city and airport from all of Dubai Islands’ attractions.
In addition, 80 new hotels and resort properties in Palm Jebel Ali will be opened, ranging from family-friendly concepts to ultra-luxurious ones. It’ll be interesting to see what Palm Jebel Ali brings.
Dubai Islands will bring a new era of investment to the city, as well as a new era of tourism. Considering Dubai Islands space will elevate Dubai to a whole new level.
It is part of Nakheel’s ongoing strategy to make the UAE among the most attractive global investment and residential destinations, the developer said. Almost 100 hotels will be available on the site, including both affordable properties as well as luxurious resorts in Dubai.
A major focus of Dubai’s 2040 Urban Master Plan is to promote “vibrant and healthy communities” on the islands, which have 20 kilometers of beaches and two square kilometers of parks. And, Dubai Islands are located on the northern coastline with such amenities.
Property prices increase drastically when it is located in a prime location with water views. The price of waterfront properties in Dubai has doubled in some cases but has tripled in others. A changing demographic has contributed to an increase in the demand for new villas and luxury properties in Dubai.
In the event that Palm Jebel Ali is relaunched, it could contribute to filling the city’s growing void of waterfront properties in Dubai. However, if the Palm Jebel Ali is to entice international second-home buyers in the same way that The Palm Jumeirah did, it will need to focus on community infrastructure and place-making as a priority, since international ultra-high net worth individuals primarily buy second homes instead of investment properties in Dubai.
Dubai’s housing market won’t be affected by the new properties at Palm Jebel Ali until 2025-26 at the earliest.