Relaunch of Palm Jebel Ali relaunch shows ‘sheer demand’ for Dubai property – The National

Relaunch of Palm Jebel Ali relaunch shows ‘sheer demand’ for Dubai property – The National

The relaunch of the Palm Jebel Ali megaproject is likely to further turbocharge Dubai’s housing market as agents report a 300 per cent rise in the value of some waterside properties.

Surging demand for beachfront villas and apartments has led developer Nakheel to press on with plans to begin construction on the Palm Jebel Ali, a project dormant since 2009.

Records show investors snapped up 29 properties on the man-made island before the global financial crash caused development to halt and property prices to fall 60 per cent.