Hundreds Queue Up To Buy Nakheel Property

Located in Palm Jebel Ali, the waterfront villa project was revealed earlier this week

House hunters queued from 3am on Wednesday to be among the first to buy property on Dubai's Palm Jebel Ali, amid a frenzy for luxury real estate in the city. Hundreds of people waited outside developer Nakheel's sales centre to snap up the first available properties on the man-made island, which is 20km south of the Palm Jumeirah.

The waterfront villa project was revealed earlier this week amid strong demand for luxury homes. The project, which will be centred on four fronds of the island, is to offer two types of villas – coral villas and beach villas. The fact that a launch can cause so much frenzy says that the demand is still very high

The first properties were expected to be handed over in 2027, real estate agents said. “People were queuing up from 3am,” said Matthew Solomon, sales team manager with estate agents Haus & Haus. “The demand for these sort of high-end properties is continuing to grow and grow. The fact that a launch can cause so much frenzy says that the demand is still very high.”

Wednesday’s sales included villas of up to 8,000 square feet, which fetched about Dh20 million ($5.4 million), Solomon said. Other sales included 12,000 square-foot villas, which were commanding fees of Dh30 million to Dh35 million, and plots were going for between Dh25 million and Dh30 million. He said the properties appealed to those looking for modern luxury. “You see a lot of people buying those kind of villas on Palm Jumeirah and renovating them to be more contemporary,” Solomon said. “The master plan for Palm Jebel Ali is showing the properties there are going to be more modern, like a Beverly Hills style. The days when people would be happy with a traditional-style villa are gone.”

The project, which was launched this week, follows the unveiling of new master plan for the Palm Jebel Ali development by Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, in June. “We are delighted to bring Palm Jebel Ali to market at this exciting time, with the island playing a transformative role in shaping the city’s future, raising the global benchmark on waterfront living,” Rasha Hasan, chief commercial officer of Nakheel, said.

Nakheel's website stated “the island will offer enhanced waterfront living, extensive green spaces and people-oriented mobility, while utilising smart city technology to streamline transportation management”. The company also said the island would be home to more than 80 hotels and resorts, as well as several unique retail and dining experiences.