Palm Jumeirah – A costly heaven

ThePalmJumeirahMarch2007CopyrightNakheelS

It is the self-declared ‘Eighth Wonder of the World’ and can be seen from space.  What else! The Palm Jumeirah is an artificial island group created using land reclamation by Nakheel, a company owned by the Dubai government in United Arab Emirates and is one of the most luxurious places in the world to live and die. It is one of three islands called the Palm Islands (Palm Jumeirah, Palm Jebel Ali and Palm Deira) which extend into the Persian Gulf. The Palm Jumeirah is the smallest and the original of the three Palm Islands. It is located on the Jumeirah coastal area of the emirate of Dubai, in the United Arab Emirates (UAE).

The Palm Jumeirah is in the shape of a palm tree. It consists of a trunk, a crown with 16 fronds, and a surrounding crescent island that forms an 11 kilometers long breakwater. The island is touted as soon to be one of the world’s premier resorts. It features three types of Villas, Atlantis, the Palm, Palm Grandeur, Ottoman Palace Hotel and resort, The Fairmont Palm Hotel & Resort, Royal Amwaj Resort and Spa and much more exotic places.

The Kempinski Residences, Palm Jumeirah are the first residences to open on the crescent of Palm Jumeirah in Dubai. The operating company of the Residences is Kempinski Hotels of Germany. The 202 properties sold to date included 190 residences sold at an average price of $2.3 million, with penthouse apartments selling for an average of $6 million and the royal villas reaching an average of $10 million. Moreover, more than 240 residential units were sold as part of the US$500 million (Dh1.83 billion) project at the peak of Dubai’s property boom between 2007 and 2008, when a beach-front villa on Nakheel’s Palm Jumeirah could fetch about Dh16m.

lyricalengineer
I'm a part time blogger, writer and rapper. I love to write about what i like and I am quite creative about it. Passion for music and money is something I can never let down.

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