Watch: Over 500 property brokers queue up overnight in Dubai to buy Palm Jebel Ali villas

Watch: Over 500 property brokers queue up overnight in Dubai to buy Palm Jebel Ali villas

Real estate agent says that phase 2 villas were launched at Dh20 million, nearly 10 per cent higher than phase 1 villa prices

Published: Wed 27 Sep 2023, 11:48 AM

Nakheel Properties launched the second phase of Palm Jebel Ali villas on Wednesday which again saw a massive demand from real estate brokers and investors with hundreds of people turning up a night before the launch.

Dubai’s master developer said on its social media account that it would release “a limited collection of Phase 2 villas” on the upcoming Palm Jebel Ali on Wednesday.

The first phase of the villas was rolled out a week ago which saw hundreds of real estate brokers crowding the developer’s sales office ahead of its launch. The properties were sold out within a few hours of the launch and soon they were trading in the secondary market at a much higher premium.

Priced at Dh18 million, investors and real estate brokers were attracted by villa prices of phase one, which is much cheaper than the current prices of the same properties at Palm Jumeirah.

Scenes were quite similar at the launch of phase 2 on Tuesday evening and Wednesday morning as property investors and agents camped outside the developer’s sales