Several listed subsidiaries of the Adani empire, which spans coal, airports, cement and media, collapsed in early trade, with some losing as much as 20%
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Real estate master developer Nakheel has announced the launch of the first villas that are available to purchase on the Palm Jebel Ali island. Spanning a total area of 13.4sqkm, the project is twice the size of the Palm Jumeirah.
The masterplan of the palm-shaped island was unveiled by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, earlier this year.
The highly-anticipated release centres around four fronds which feature Coral and Beach villas, each of which are available in eight styles. Both types of villas draw inspiration from the “beauty of nature”. The designs reflect the calm blue waters and white beaches, and “pristine nature that residents will enjoy”.
Rasha Hasan, chief commercial officer of Nakheel, said: “We are delighted to bring Palm Jebel Ali to market at this exciting time, with the island playing a transformative role in shaping the city’s future, raising the global benchmark on waterfront living and underlining its position as a world-class lifestyle destination.”
Several international and regional architectural firms have worked to create the villas, Nakheel said. The units will feature floor-to-ceiling windows that offer a panoramic view of the private beaches. It will have a soft and neutral palette, with luxury finishes to match the exclusive private frond neighbourhoods.
Health and wellbeing will be integrated into daily life on the four fronds, offering residents wide walkable streets. Pedestrians and cyclists will have access to the beach through pocketed parks. The frond streetscape will be predominantly green, with trees offering “ample shading”.
Palm Jebel Ali boasts the longest coastline of any destination in Dubai. Centrally located within Dubai’s future growth centre, it is connected via the Sheikh Zayed Road (E11). When completed, it will feature seven islands and 16 fronds, adding a total of 91km with three access points to the island.
The island will offer “enhanced waterfront living”and extensive green spaces. It will house over 80 hotels and resorts as well as several unique retail and dining experiences.
Palm Jebel Ali marks the beginning of a new growth corridor in line with the Dubai 2040 Urban Master Plan.
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