Dubai’s famous man-made island Palm Jumeirah is now hot property thanks to a new wave of launches like Nakheel Mall and a raft of great deals such as Garden Homes and Signature Villas with a lower price tag, said a leading brokerage Appello Real Estate.
As the Dubai real estate market copes with the disruption caused by the Coronavirus pandemic, Appello stated that it’s seeing positive levels of buyer interest in the Palm Jumeirah as we move through Q2.
The man-made island celebrated several exciting new launches recently and something of a version 2.0 rebrand. This should see the Palm breeze through this challenging period, it added.
“As UAE property portals push to keep leads flowing for brokers, we are in fact seeing a decent number of client inquiries for the Palm come directly to us as a company – which speaks volumes,” remarked Naval Vohra, CEO of Appello Real Estate.
“I think there are two major factors at play. Firstly, the Palm has entered an exciting new phase with launches like Nakheel Mall and the upcoming Royal Atlantis hotel. At the same time, current market conditions offer a golden opportunity to buy property with a slashed price tag – prices in many cases being down even from a few weeks ago. So, it’s not hard to see the appeal of the community right now and our inbound interest reflects that,” he noted.
Vohra pointed to the established Garden Homes and Signature Villas located on the Fronds which offer gorgeous luxury houses to buy in an area that’s ideal for families wanting an active lifestyle.
“With lush green outdoor space and private beach access, these glamorous homes cater to those wanting exclusivity and privacy – yet still wanting to be close to restaurants, beach clubs and spas. There are currently some great deals for these properties, hence the buyer interest,” he explained.
“I know reports of the property market cast a slightly gloomy shadow right now, but with prices in these highly desirable spots being on the lower side we are finding interest remains buoyant,” remarked Vohra.
“The cream always rises to the top, even during a pandemic. When speaking to global investors we advise them to take action right now while there is this unique window of opportunity and negotiate an amazing deal. For many people owning a property on the Palm Jumeirah has long been on their wish list – but right now could be the time to turn that dream into a reality,” he added.