Palm Jebel Ali offers competitive prices for waterfront homes

Property buyers are showing strong interest in Palm Jebel Ali, a new luxury development in Dubai. The prices for waterfront homes there are much lower than on the more established Palm Jumeirah. Currently, the average price for a home on Palm Jebel Ali is about Dh2,500 per square foot. In contrast, homes on Palm Jumeirah average around Dh8,000 per square foot. Experts believe that this price difference offers a big opportunity for investors. Firas Al Msaddi, CEO of fam Properties, noted that villa prices on Palm Jumeirah have increased more than 50% in the last three years. In Dubai, waterfront properties typically sell for 30% to 50% more than similar homes away from the water due to high demand and low supply. Palm Jebel Ali was relaunched in late 2023 with a new masterplan. It is more than double the size of Palm Jumeirah and has seen a steady release of new luxury homes. The latest offerings include high-end properties priced above Dh30 million. Al Msaddi mentioned that the final phase of luxury villas is about to be introduced, providing a rare chance for buyers to acquire top-tier homes directly from the developer. Additionally, private developers are purchasing land for future projects, which is expected to influence prices on Palm Jebel Ali when those projects are launched.