Dubai’s Palm Jebel Ali to see the launch of iconic hospitality, and residential projects

Dubai’s Palm Jebel Ali to see the launch of iconic hospitality, and residential projects

Following the success of Palm Jumeirah, the newly-announced Palm Jebel Ali is set to witness some iconic and ultra-luxury hospitality and residential projects that will attract more high-net-worth individuals and global retail and hospitality brands into the emirate.

Real estate industry analysts and players expect that this new master development is already attracting strong interest not just from local but from regional developers as well as it is expected to offer a high return on investment (RoI) as other prime projects in Dubai, if not more.

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, recently announced the launch of Palm Jebel Ali, which will be twice the size of Palm Jumeirah with beaches stretched up to 110km, housing over 80 hotels and a wide stretch of prime waterfront development.

Palm Jumeirah has positioned the emirate’s real estate among the world’s ultra-luxury projects and is home to A-class Bollywood and Hollywood celebrities. It is already home to some iconic projects such as Atlantis The Palm, Anantara, Atlantis The Royal, Five Hotel, Zabeel Saray, Raffles and many others.

Global real estate consultancy Savills said over the last few years, there has been a significant increase