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  • Palm Jebel Ali Villas Set for First Handovers in 2026

    Palm Jebel Ali Villas Set for First Handovers in 2026

    Construction activity is progressing steadily across Palm Jebel Ali’s residential communities, with the island’s first villa handovers on track to begin before the end of 2026, according to Khalid Al Malik, Chief Executive Officer of Dubai Holding Real Estate.

    “Today, there is real momentum on the ground across infrastructure, utilities, access roads, and the first residential communities, laying the foundations for what will become one of Dubai’s most significant waterfront destinations,” Al Malik told Gulf News in an exclusive interview on June 16, 2026.

    Dh8.5 Billion in Construction Contracts

    Nakheel awarded Dh5 billion in contracts in 2024 to Ginco General Contracting, Shapoorji Pallonji Mideast and UNEC for the construction of 723 Beach and Coral Collection villas across Fronds K to P, along with supporting infrastructure and public spaces. In April 2026, the developer awarded additional contracts worth more than Dh3.5 billion for villas across Fronds A to F.

    “These milestones reflect a clear commitment to delivering Palm Jebel Ali with the scale, quality and infrastructure readiness expected of a destination of this significance,” Al Malik said.

    Phased Delivery Strategy

    The island will not open on a single handover date, with Palm Jebel Ali set to come to life in phases as construction advances across different sections. Al Malik confirmed that the project’s immediate priority is the first residential phases and the infrastructure required to support them.

    “The priority is not simply speed. It is quality, infrastructure readiness, customer experience and long-term value. Palm Jebel Ali is being developed as a destination that will serve Dubai for generations.”

    Future milestones will be announced once each phase is approved and reaches the appropriate stage of readiness, he added.

    Master-Planned Destination

    Palm Jebel Ali is being developed as a comprehensive waterfront destination combining residential, hospitality, leisure, wellness, and community infrastructure. More than 80 hotels and resorts are expected to form part of the wider masterplan, alongside beach clubs, dining venues, civic infrastructure, and public spaces.

    The masterplan already includes Palm Central Private Residences and the Palm Jebel Ali Friday Mosque, designed by Skidmore, Owings & Merrill, which will serve as a cultural and architectural landmark for the island.

    International architectural firms including NAGA, LOCI, WATG, LW Design, SAOTA and Whitespace have been engaged to design the Beach and Coral Collection villas, with each collection centered around space, light, privacy, waterfront views and coastal environment integration.

    Strategic Location Advantage

    Al Malik emphasized that Palm Jebel Ali’s position is strengthened by its connection to Dubai’s future growth corridor, including Expo City Dubai and Al Maktoum International Airport.

    “It offers waterfront living on a scale difficult to find elsewhere in the region, while remaining connected to Dubai’s future growth corridor,” he stated.

    Strong Buyer Demand

    Buyer appetite for Palm Jebel Ali’s residential releases has been robust, particularly among those seeking waterfront homes with privacy, scale and long-term value. The project is attracting buyers who view Dubai as a base for family life, wealth preservation and long-term investment.

    “What makes the proposition compelling is its rarity,” Al Malik explained. “Palm Jebel Ali offers new coastal supply at a scale that is extremely difficult to replicate, within one of Dubai’s most important future growth corridors.”

    The demand reflects a wider shift in Dubai’s property market, where buyers are increasingly seeking larger homes, wellness-led communities, access to nature and master-planned destinations.

    According to Al Malik, three elements will define Palm Jebel Ali’s next phase: delivery momentum with major infrastructure advancing, the scale and quality of the integrated waterfront community, and the island’s character shaped by integrated mobility, walkable neighborhoods, and community-led planning.

    “Over time, people should expect to see more detail around hospitality, public realm, mobility, landscape, art and community amenities,” Al Malik said. “These are the elements that will define Palm Jebel Ali as a destination with its own rhythm, community and identity, one that people will feel proud to call home.”

  • Dubai Off-Plan Apartment Sales Rise 12.9% to $4.77 Billion in March

    Dubai Off-Plan Apartment Sales Rise 12.9% to $4.77 Billion in March

    Dubai’s real estate market demonstrated continued resilience in March 2026, with off-plan residential apartment sales reaching AED17.5 billion ($4.77 billion), up from AED15.5 billion in the same month last year, according to an analysis of Dubai Land Department (DLD) data released April 1, 2026.

    Transaction volumes increased 2.3% year-on-year to 7,983 off-plan residential apartment deals, compared to 7,801 transactions in March 2025, reflecting sustained investor confidence in Dubai’s under-construction residential segment.

    Dubai Islands Leads Off-Plan Sales

    Al Masdar Al Aqaari’s latest report revealed that Dubai Islands emerged as the top-performing area by sales value, generating AED1.3 billion from 402 transactions during March. Madinat Al Mataar, near Al Maktoum International Airport, ranked second with AED1.2 billion across 809 off-plan residential apartment transactions while also leading in transaction volume.

    Jumeirah Second secured third place with AED1.1 billion in total sales, driven by just nine high-value transactions within the Dubai Peninsula master development, including Aman Residences Dubai and Peninsula Dubai Residences – Tower 2.

    By transaction volume, Madinat Al Mataar led with 809 deals, followed by Dubai Land Residence Complex with 651 transactions worth AED618.9 million, and Jumeirah Village Circle (JVC), which recorded 570 transactions totaling AED660.6 million.

    Luxury Segment Posts Record Transactions

    Dubai’s luxury real estate segment recorded several landmark deals in March, with Aman Residences Dubai completing the third most expensive off-plan apartment sale in Dubai’s history. The transaction, valued at AED422 million, involved a 31,201-square-foot off-plan residential apartment sold at AED13,525 per square foot. The project also recorded another high-value deal, with a similar-sized unit selling for AED356.2 million at AED11,417 per square foot.

    The highest price per square foot during the month was recorded at South Square, Madinat Al Mataar, where a 1,230-square-foot off-plan residential apartment sold for AED19.9 million, equating to AED16,180 per square foot.

    The second-highest rate was at Aman Residences Dubai, where a 3,824-square-foot off-plan residential apartment sold for more than AED55.6 million at AED14,545 per square foot.

    Market Context

    The strong March performance comes as Dubai’s property market shows resilience amid ongoing regional tensions. Industry analysts note that the off-plan segment continues to attract both local and international investors, with move-in-ready properties and under-construction units both seeing strong demand.

    The data reinforces Dubai’s position as a leading real estate investment destination, with developers continuing to launch new projects and buyers maintaining confidence in the emirate’s long-term growth trajectory. As S&P Global Ratings recently noted, strong developer fundamentals and substantial revenue backlogs continue to support market stability.

  • Dubai Penthouse Rents for Dh12 Million in Record Burj Khalifa Deal

    Dubai Penthouse Rents for Dh12 Million in Record Burj Khalifa Deal

    The property marks a rare transaction at the very top of Dubai’s rental market, where high-net-worth tenants continue to commit to premium rents for scale, privacy, and prestige. The deal highlights how demand for trophy assets remains intact even as broader regional uncertainty persists.

    “In times of volatility, capital does not retreat, it becomes more selective. It seeks environments defined by stability, security, and long-term vision. Dubai continues to command that trust,” said Karl Haddad, owner of the property.

    A One-of-a-Kind Residence

    The residence stands apart within the Burj Khalifa itself, following a multi-year structural transformation that combined multiple units into a single vertical residence. The process took more than six years, including over three years of approvals, with concrete slabs modified to create a private internal staircase. The result is the only duplex of its kind in the tower.

    Spanning more than 10,000 square feet with plans to expand further, the property includes a large terrace, private pool, cinema, spa, and gym, alongside high-end finishes and custom interiors designed for long-term occupancy.

    “This property is unlike any other in the tower,” Haddad said. “On a personal level, this reinforces why I continue to invest and operate here. Dubai has built an ecosystem where ambition is protected, capital is respected, and confidence is sustained, even in the most testing moments.”

    Shift in Ultra-Prime Rental Demand

    The transaction was facilitated by Keyper and points to a shift in how ultra-wealthy residents approach property in Dubai.

    “Ultra-high net worth individuals are prioritising flexibility without compromising scale, privacy, or prestige. A Dh12 million annual lease would have been unthinkable just a few years ago. Today, it reflects the growing sophistication of Dubai’s ultra prime rental market.”

    Omar Abu Innab, Co-Founder and CEO of Keyper, noted that large-ticket property purchases remain common, though high-value leases at this level are still rare, placing the deal among a limited set of global transactions.

    That positioning has helped sustain activity in Dubai’s prime segment, even as other markets face slower deal flow. The flexible payment structures offered by landlords and the emirate’s strategic appeal continue to attract capital from ultra-high-net-worth individuals seeking stability and premium lifestyle offerings.

    The transaction comes as Dubai’s property market maintains resilience through ongoing regional tensions, with industry leaders citing structural advantages and a diversified buyer base as key factors supporting continued investor confidence across all segments.