Why the rich are lining up to own property on Dubai’s Palm Jebel Ali

Long queues of property agents at the launch of villas by Nakheel at Palm Jebel Ali last week reminded us of similar queues that used to be formed during the first property boom in Dubai in the pre-global financial crisis of 2008-09. This proves that Dubai’s property market has not lost its steam and the ongoing rally will go a long way.

It is not just a high return on investment or capital appreciation that is attracting the richest of the rich, but owning property on Palm Jebel Ali carries a certain prestige, too, due to its association with luxury and exclusivity and large sizes of plots. Therefore, it is a win-win game for investors and end-users in the short and long terms.

Prospective buyers queued from the early hours for the launch of the first villas on Palm Jebel Ali. Pic courtesy haus & haus Real Estate.

Earlier this year, the Dubai government revealed a masterplan for the Palm Jebel Ali which would add 110km of coastline and house more than 80 hotels and resorts. It would be double the size of Palm Jumeirah.