- Apartment prices on Palm Jumeirah recorded an annual increase of 17.4% in 2021
- Upscale apartment locations in Dubai will continue to increase throughout 2022 according to experts
UAE-headquartered upscale residential, hospitality and commercial property developer Seven Tides has announced only a few luxurious penthouse apartments remain within its Anantara The Palm Dubai Residences development.
All other units within the Palm Jumeirah development have now been sold, excluding the final phase which features a limited number of penthouse apartments, each of which occupy prime positions within the North and South Towers of the five-star residential community.
The four-bedroom penthouses are being sold fully fitted, with prices starting from AED 21,579,888. All units feature panoramic views of the Arabian Gulf, Burj Al Arab and the Dubai Marina skyline, as well as a sunken swimming pool and an extensive private outdoor terrace.
The announcement comes at a time when Dubai’s high-end property market has witnessed exponential growth in demand, especially for ultra-luxury properties, with 54 sold in the first 9 months of 2021, according to the Dubai Land Department (DLD).
The ValuStrat Price Index, indicates that the Palm Jumeirah apartment market was particularly popular among real estate buyers in 2021, recording an annual price increase of 17.4% with real estate consultancy Core, commenting that prices for the majority of upscale apartment locations in Dubai will continue to increase throughout 2022.
Furthermore, a report from LUXHABITAT Sotheby’s International Realty stated that AED 4.2 billion was spent on luxury real estate on the Palm Jumeirah alone during Q2 2021, the highest transactional value in Dubai during that period, adding that demand was ‘here to stay.’
Abdulla Bin Sulayem, CEO of Seven Tides International, said: “This is an excellent opportunity for investors of all nationalities to secure a luxury freehold property in the Thai-inspired Anantara The Palm Dubai Resort development.
“These penthouse apartments, which are complete and ready to move in to, are perfect as second or holiday homes, where residents can take advantage of the facilities and amenities as well as high-end restaurants and bars within the five-star resort, away from the hustle and bustle of the city.”
Investors can also take advantage of a payment plan for the penthouse apartments, which entails paying 15% upon reservation, with further 15% instalments, thirty, sixty and ninety days from the reservation date, with a final payment of 40% upon completion.
“We can also assist with a leasing strategy on a long-term basis, or the apartment can be added to the hotel rental management scheme, whereby the unit becomes a part of the hotel inventory and bookings are managed by the hotel reservations team,” added Bin Sulayem.
In addition to access to the Anantara The Palm Dubai Resorts’ private beach and the 10,000m2 temperature-controlled swimming pool, residents can also enjoy a wide variety of leisure facilities, including a fully-equipped gym, tennis courts and children’s play areas. They also have access to the renowned Anantara Spa and a choice between seven different dining experiences in the resort.
Bin Sulayem said: “Palm Jumeirah continues to be one of the most sought-after locations in Dubai. Not only is this prime real estate, which according to industry experts produces high yields, it will also benefit from exceptional capital growth.”