Palm Jumeirah is an iconic artificial island in the shape of a palm in the Persian Gulf. It is 300 meters from the coast of Dubai with an area is 61354289 sq. ft. This island is combined with the mainland through a bridge and consists of a trunk. The crown is surrounded by 16 branches and an 11-kilometer-long crescent. Further, the work on Palm Jumeirah initiates in 2001, and the first building starts to be erect here at the end of 2006. Currently, there are many off-plan properties in Dubai Palm Jumeirah with a luxurious lifestyle.
Luxury Residences at Palm Jumeirah
Now the island has elite five-star hotels and private luxury residences. The benefits of having off-plan properties in Dubai on Palm Jumeirah are its unique location. Moreover, this area is covered by water on all sides, providing residents with solitude, privacy, and peacefulness, which is not possible in crowded and noisy places.
At the same time, you can get to the off-plan properties in Dubai Downtown with its attractions Burj Khalifa, singing fountains, Dubai Opera, large shopping malls, and nearby business centers. The journey to Dubai International Airport will take about 20 minutes.
Cost of Residences at Palm Jumeirah
The price of purchasing and renting residences on the island is higher than in other areas of Dubai. The price is not only by the location but also by the excellence of housing, and all properties on Palm Jumeirah are high class. For example, there is a luxurious collection of villas XXII Carat which have the world’s most expensive baths made from a piece of rock crystal. This bath alone costs USD 1M, and the complete villa is a minimum of USD 10.5M. Apartments in residential complexes on Palm Jumeirah are also more expensive than other areas. The Six Senses Dubai is a new residential project to buy off-plan properties in Dubai with luxurious living standards.
Residences with Hotel Services
Most of the residential developments on the island are joint with well-known five-star hotels. As a consequence residents live in their apartments, but at the same time they can use all the facilities and services that elite class hotels offer to their guests. Furthermore, the facilities comprise entrance to private beaches and private pools, maid services, gyms, spas, cafes, and restaurants.
W Residences Dubai
W Residences Dubai is fully serviced by the W Hotel brand. It includes 104 luxury 2-5 bedroom apartments as well as numerous penthouses. The complex is distributed into eight unique sections called mansions. Each residence has a modern layout with excellent kitchens and smart home appliances. Natural stone is used in the bathroom and kitchen.
The Anantara Palm Resort is an elite resort by the world’s well-known Thai hotel chain Anantara. Here studios, 1 and 2-bedroom apartments, and 14 luxury penthouses are available. Indeed, there are fully-furnish units, with high-quality appliances and with the Opus smart home system.
Six Senses Dubai Residences
The Six Senses Dubai is a new luxury waterfront project on Palm Jumeirah in Dubai. The development is the combined venture amid the Select Group and ESIC; they have signed a management agreement with Six Senses Hotels Resorts Spas. The corporations are announcing the first Six Senses Dubai hotel and branded residences to Dubai, which offer luxurious beachfront living.
Moreover, the total area of the residential project will create 1.2M sq. ft. with the manufacturer. The Six Senses Dubai Palm Jumeirah construction starts at the beginning of 2022 and will estimate to complete in 2024. The Six Senses Residences will include 162 ultra-luxury residences and a hotel with 60 rooms with beautiful views of the Palm and the rest of Dubai, 60,000 sq. ft. of facilities. The residential development at Six Senses Dubai offers a mix of off-plan properties in Dubai, comprising 121 penthouses, 32 sky villas, and nine signature beachfront villas. All housing units will be handled by Six Senses, which will deliver residents with beneficial access to the hotel’s top-class facilities such as a tennis court, big swimming pools, a football field, cafeterias, a library, a children’s club.
Palm Jumeirah is a well-known home-buying location, particularly among investors. According to Dubai real estate, Palm Jumeirah for off-plan properties in Dubai ranks first in villa acquisitions and fourth in apartment acquisitions out of all areas in Dubai. At the start of 2020, the average return on investment for properties on the island was 6%. The ROI for studios and one-bedroom apartments is 5.4%, while ROI for 2-bedroom apartments is 6.1%.