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Palm Jumeirah, the world's largest man-made island, is one of Dubai's many architectural wonders. It comprises a two-kilometre-long trunk and 17 palm tree ''fronds,'' all of which are lined with some of the emirate's most exquisite residences, restaurants and retail outlets. The island structure is haloed by a crescent that boasts an unparalleled variety of hospitality and luxury attractions for tourists and residents alike.
The island is consistently and rapidly being developed by developers, attracting the keen attention of both local and international property investors. A number of residential units like luxury waterfront villas and apartments are currently being developed or are nearing completion, opening up several options for buyers.
The Palm's fronds are lined with luxury beach houses and villas. Amongst the many beachfront properties, a bespoke collection that luxury property investors are waiting for with keen interest is M.State. It will have five villas with a starting price of Dh70 million.
Some other noteworthy developments are the Dukes Oceana Residences, offering a complete luxury living experience, and the Marina Residences, complete with marina berth facilities for private vessels, a clubhouse and other leisure facilities. Another remarkable development poised to open in 2016 is the Viceroy Dubai Palm Jumeirah. It is expected to raise the bar for beachfront living. The Viceroy Residences are likely to be amongst the most sought-after property investments on the island.
The Palm is also planned to play host to one of Dubai's largest retail and waterfront dining experiences, creating a shopping paradise, the completion of which will mark a milestone in the emirate's retail and hospitality sector growth. Three major retail projects planned for the island are Nakheel Mall, The Pointe and The Golden Mile.
Apart from its diverse retail and dining options, the island also has various leisure and activity choices including Atlantis' Aquaventure Waterpark and Waldorf Astoria's Water Sports Centre. For the more adventurous, Skydive Dubai is within a 10-minute drive.
Demand for properties on Palm Jumeirah sees a steady rise owing to the aesthetics, luxury, convenience and commercial appeal of the area.
• M.State is a new development on Palm Jumeirah featuring five bespoke villas
• Other new projects are Dukes Oceana Residences, Viceroy Dubai Palm Jumeirah
• Major retail structures include Nakheel Mall, The Pointe and The Golden Mile
Source: Rakesh Mirchandani, Special to Properties
The writer is Director, KGR Real Estate