Investing in Palm Jebel Ali

Palm Jebel Ali is one of the three islands that make up the Palm Islands in Dubai. The island is planned to be built in the shape of a palm tree, comprising of a trunk, along with a crown that includes 17 fronds. This will be a crescent-shaped island, wherein construction will be carried out to make this island a top-class entertainment zone, which would be perfect for the tourists as well as for the elite residents of Dubai. The island, with its multitude of entertainment options, is proposed to be the favorite destination for tourists, as well as for local residents, who wish to own properties in this location.

The project is being developed by the famous property developers of Dubai – Nakheel Properties. The construction on the island started in October 2002. The construction work on the island was carried on as per schedule till October 2007. The beautiful breakwater of the island was completed in December 2006. The work on infrastructure started from April 2007. The developers of the project plan to start the construction work only after the infrastructure work is complete. Nakheel Properties believes that after the completion of the project, the island will become the eighth wonder of the world. Palm Jebel Ali is considered to be almost fifty times bigger than the other Palm Island – Palm Jumeirah.

Palm Jebel Ali will have some of the best in terms of architecture. In order to design the buildings Nakheel developers invited applications in the form of designs from the top contractors of the world. The first building of the island is already completed. The island is set up to become one of the top tourist attractions and crowd gatherers in Dubai. In order to make the island a favorite among the tourists, several projects are being undertaken. There are plans to have more than six marinas in the island, along with a water theme park. There are several homes proposed to be built, which are referred to as ‘Sea Village’. These homes and villas will be ideally built on the stilts located just above the water.

There are plans to open the first phase of four theme parks by the year 2012. The theme parks will be located in the crescents of the island. These parks, which will be known as the ‘World of Discovery’, will be developed by Busch Entertainment Corporation. These theme plans are believed to be one of the top crowd gatherers. These parks will have Sea World, Discovery Cove, Aquatica and also Bush Gardens. With the opening of these parks, Palm Ali Jebel is set to become one of the best entertainment locations of Dubai.

There is some good news for those who are looking forward to buy properties in Palm Jebel Ali. The Dubai property market seems to be slowing down, which has slashed the property rates in the island. It is believed that the property values have reduced by as much as 40 percent during the last few months of economic recession. Therefore, if you would like to be the proud owner of some of the luxurious apartments in the best locations of Dubai, then you should not waste any more time and start checking out some of the best housing deals in Dubai.

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