Palm Jebel Ali offers best-priced waterfront homes in Dubai

Post by: Omar Nasser

Dubai’s Palm Jebel Ali is getting ready to sell more super-luxury homes. Buyers now have a chance to buy houses at better prices than Palm Jumeirah. This makes it a great time for people looking to invest in waterfront homes.

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According to Fam Properties, the price per square foot (PSF) for a house on the water in Palm Jebel Ali is about Dh2,500. In Palm Jumeirah, the same type of home costs around Dh8,000 per square foot. This means buyers in Palm Jebel Ali can get more space for their money and expect their property value to grow in the future.

Firas Al Msaddi, CEO of Fam Properties, said that the price of villas on Palm Jumeirah has gone up by more than 50% in the last three years. He explained that in places like Dubai, houses near the water usually cost 30% to 50% more than houses inland. This is because many people want these homes, but there are only a few available.

Dubai restarted the Palm Jebel Ali project at the end of 2023 with a fresh plan. The island is now planned to be twice the size of Palm Jumeirah. Since then, the main developer, Nakheel, has been launching new homes on the island. Some of these luxury homes are priced at more than Dh30 million.

“With the final batch of these super-luxury villas coming soon, this is the last chance for buyers to purchase six- and seven-bedroom waterfront homes straight from the developer,” said Al Msaddi.

Real estate experts say that private developers are also buying land in Palm Jebel Ali to build more homes. When these homes are built and sold, they will set new price levels for the area.

One big advantage of Palm Jebel Ali is the size of its land plots. Fam Properties said that these plots are usually twice as big as those on Palm Jumeirah. A villa plot in Palm Jebel Ali is around 21,000 square feet, while in Palm Jumeirah, it is about 10,500 square feet. This means buyers get more space and privacy.

For completed villas, the price per square foot in Palm Jebel Ali is about Dh3,000, while in Palm Jumeirah, it is around Dh9,000. The price of a prime waterfront plot in Palm Jebel Ali is Dh2,500 per square foot, compared to Dh8,000 in Palm Jumeirah.

Palm Jebel Ali also offers buyers flexible payment plans that last three to four years. In comparison, Palm Jumeirah homes can only be bought through resale, and buyers must pay the full amount upfront.

“For investors, this is not just about having a home with great views,” said Al Msaddi. “It is also about buying a valuable property in a growing market.”

With more luxury homes being launched on Palm Jebel Ali, investors have a good opportunity to own high-end waterfront properties at lower prices than Palm Jumeirah.

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