Closer Look: Palm Jumeirah
Rates from a selection of data from Q3 2015. Content is property of Driven Properties and REIDIN.
FACTS AND FIGURES
DID YOU KNOW
•
Area: 600 hectares of land
•
Around 100 million cubic meters of sand and 7 million tons of rocks were used to construct this archipelago
•
The island is composed of a blend of sand, rocks and geo-textile fibers
•
The crescent island where Atlantis stands serves as a breakwater and has over 300 openings in order to withstand
PALM JUMEIRAH
harsh weather conditions such storms or typhoon •
Aquaventure Water Park in Atlantis is ranked among the world’s top 20 waterparks
•
Palm Jumeirah is visible from space
SALES Completed Sales Transactions Median
Total Sales Transactions = 158 VILLAS VS APARTMENTS
1,800 AED PER SQ.FT. 14.5%
Villas Apartments
85.5%
MORTGAGE VS CASH
Mortgage Cash Purchases
2
TOP 3 AREAS
22%
78%
SALES PRICES
Villas 6.9m to 36m
1
3
Apartments 790k to 13m
23.4% 17.7% 17%
Shoreline Apartments Marina Residences Anantara Residences
Palm Jumeirah The Palm Jumeirah is one of a trilogy of artificial archipelagos constructed on the Persian Gulf, stretching out of the Dubai shoreline. Developed by Nakheel Properties, the palm-tree shaped project was set to become a Dubai landmark even before its completion. This development is connected to the mainland by a 2 km long trunk, with 17 fronds that extend outward, and a crescent-shaped island surrounding the area. The Palm Jumeirah is home to 4000 luxury villas and apartments, many located directly on the water, making it one of the most sought-after residences in Dubai. Many of the world’s most luxurious hotels can also be found on this development. Residents can enjoy the view of the deep blue waves crashing onto the tranquil beaches.
RENTALS Total Rental Transactions = 424 VILLAS VS APARTMENTS
AVERAGE SALES PRICES Anantara Residence (Resort & Spa)
AED 3,405,359
Marina Residences
AED 3,583,675
Oceana Residences
AED 5,001,916
Shoreline Apartments
AED 2,869,311
Tiara Residences
AED 4,649,000
Villas Apartments
SALE
GOLDEN MILE AND NAKHEEL MALL These are two of the up and coming developments on Palm Jumeirah. With around 430,000 sq.ft. of commercial space and 860 residential units, Golden Mile comprises 10 interconnected 11-storey buildings situated on the western trunk of the Palm. Spanning over 1 million square feet, Nakheel Mall will feature a five star hotel and a 180m high viewing deck for visitors to enjoy a 360 degree view of the sea. The architectural innovation is apparent in the shape of the mall, which was designed to represent the waters of the Arabian Gulf. With casual and fine dining options, a plethora of iconic fashion outlets, a VOX cinema, and a health and fitness center, Nakheel Mall aims to offer visitors enjoyable and convenient experiences and is set to become Dubai’s hottest shopping and dining destination.
8%
92%
RENTAL PRICES
Villas 37.5k per month Apartments 6,667 – 80k per month
Completed Rental Transactions Median
9.05 AED PER SQ.FT. PER MONTH
3
1
2
OCCUPANCY TOP 3
95%
Anantara Residences
94%
Kempinski Palm Jumeirah Residences
92%
Tiara Residences
FACTS AND FIGURES
DID YOU KNOW
•
Area: 600 hectares of land
•
Around 100 million cubic meters of sand and 7 million tons of rocks were used to construct this archipelago
•
The island is composed of a blend of sand, rocks and geo-textile fibers
•
The crescent island where Atlantis stands serves as a breakwater and has over 300 openings in order to withstand
PALM JUMEIRAH
harsh weather conditions such storms or typhoon •
Aquaventure Water Park in Atlantis is ranked among the world’s top 20 waterparks
•
Palm Jumeirah is visible from space
SALES Completed Sales Transactions Median
Total Sales Transactions = 158 VILLAS VS APARTMENTS
1,800 AED PER SQ.FT. 14.5%
Villas Apartments
85.5%
MORTGAGE VS CASH
Mortgage Cash Purchases
2
TOP 3 AREAS
22%
78%
SALES PRICES
Villas 6.9m to 36m
1
3
Apartments 790k to 13m
23.4% 17.7% 17%
Shoreline Apartments Marina Residences Anantara Residences
Palm Jumeirah The Palm Jumeirah is one of a trilogy of artificial archipelagos constructed on the Persian Gulf, stretching out of the Dubai shoreline. Developed by Nakheel Properties, the palm-tree shaped project was set to become a Dubai landmark even before its completion. This development is connected to the mainland by a 2 km long trunk, with 17 fronds that extend outward, and a crescent-shaped island surrounding the area. The Palm Jumeirah is home to 4000 luxury villas and apartments, many located directly on the water, making it one of the most sought-after residences in Dubai. Many of the world’s most luxurious hotels can also be found on this development. Residents can enjoy the view of the deep blue waves crashing onto the tranquil beaches.
RENTALS Total Rental Transactions = 424 VILLAS VS APARTMENTS
AVERAGE SALES PRICES Anantara Residence (Resort & Spa)
AED 3,405,359
Marina Residences
AED 3,583,675
Oceana Residences
AED 5,001,916
Shoreline Apartments
AED 2,869,311
Tiara Residences
AED 4,649,000
Villas Apartments
SALE
GOLDEN MILE AND NAKHEEL MALL These are two of the up and coming developments on Palm Jumeirah. With around 430,000 sq.ft. of commercial space and 860 residential units, Golden Mile comprises 10 interconnected 11-storey buildings situated on the western trunk of the Palm. Spanning over 1 million square feet, Nakheel Mall will feature a five star hotel and a 180m high viewing deck for visitors to enjoy a 360 degree view of the sea. The architectural innovation is apparent in the shape of the mall, which was designed to represent the waters of the Arabian Gulf. With casual and fine dining options, a plethora of iconic fashion outlets, a VOX cinema, and a health and fitness center, Nakheel Mall aims to offer visitors enjoyable and convenient experiences and is set to become Dubai’s hottest shopping and dining destination.
8%
92%
RENTAL PRICES
Villas 37.5k per month Apartments 6,667 – 80k per month
Completed Rental Transactions Median
9.05 AED PER SQ.FT. PER MONTH
3
1
2
OCCUPANCY TOP 3
95%
Anantara Residences
94%
Kempinski Palm Jumeirah Residences
92%
Tiara Residences
