Archive for month: April 2019

Crescent Living on Palm Jumeirah

The Palm Jumeirah has been popular since 2006 when it welcomed it’s first residents.Since that time the apartments and villas on the Palm have been one of Dubai’s most sought after locations for both owners and tenants.

Over the past 10 years it’s been the apartments located on the trunk of the palm and the villas on the fronds, that have attracted most of the attention with the Crescent properties being left behind a little.

Not so it seems anymore! Finally, it looks like the Crescent is starting to receive the same amount of attention that the fronds and trunk have benefited from for over a decade. There are a number of reasons for this, which I will highlight, before giving a detailed account of exactly what the Crescent does have to offer.

Reasons for the Palm Jumeirah Crescent’s resurgent popularity.

The crescent is 11.6km from end to end and consists of a series of plots that have been developed into either residential apartments, residential villas or hotels. They have always been seen as too far to travel and places like the Tiara Residences and now the Five on the Palm were always more popular.

However in recent times we are seeing the requests for properties on the Crescent increase considerably.

The Reasons are:
1. Several new hotels have been built improving the overall look of the crescent
2. Landscaping has been improved
3. A bridge will link the crescent with Dubai Harbour.
4. The revetment surrounding the crescent has been made deeper and therefore making the experience of walking or running on the crescent track much more pleasurable.
5. Prices have reduced to price points lower than the trunk for rental atleast.

Where can you live on the Palm Jumeirah Crescent?

Working clockwise here are the choices:

22 Carat, Palm Jumeirah

Zabeel Saray

Taj Grandeur

W Hotel and Residences

Kempinski Residences
Kempinski Residence

Balqis Residences

Muraba Residences

Serenia Residences

Mina by Azizi

Dream Palm Residences

These developments offer a range of apartments and villas, with prices ranging from around AED1.5m for a one bedroom apartment all the way up to AED 65m for a bespoke villa with private beach.

Who is buying on the Crescent of Palm Jumeirah?

Historically there have been a few nationalities that have dominated the sales of Palm Jumeirah. Up until 2014 the Russians were probably the most active investors on the Palm Jumeirah which was because of two main factors:

a) They had money (and lots of it)
b) Russians love a sea and beach view ( and The Palm Jumeirah was the only freehold choice for this)

Their purchasing rate unfortunately slowed down after the rouble crashed in 2014, but 2019 has seen some encouraging signs that they are buying again. Palm Jumeirah villas on the fronds are home to a lot of Russians and the crescent also attracts many with the Kempinski being predominantly Russian and now the soon to be released 22 Carat has been another favorite of the “Red Army”.

Taj Grandeur was heavily marketed to the Indian investors and subsequently they dominate this development.

The brightest light of the past two years on the crescent has undoubtedly been what was originally the Alef Residences and now the W Hotel Residences on the Palm Jumeirah. The developer has done a great job marketing both the apartments and the penthouses and this has resulted in some top end prices being achieved. The buyers have been a real mix with Russians, Iranians and Brits making up a good percentage of the buyers. With 3 beds coming in around the AED 16m they offer a great standard and fabulous views with all the amenities of a five star serviced residence.

Why Move to the crescent on the Palm Jumeirah?

As a valuer and chartered surveyor with 15 years’ experience in Dubai I have been guilty in the past of being a little skeptical about the crescent. The Atlantis used to be the only hotel that was open and it just seemed so far to travel there in relation to how easy it was to get to places like the Tiara and Oceana Residences.

Of course it hasn’t got any closer but it has developed so well, that now it just seems to be a part of the Palm rather than a forgotten off shoot. Luxurious hotels span the crescent now with 5* brands such as The Waldorf Astoria, The W Hotel, Emerald Kempinski, The Sofitel and many others making up this concentration of luxury living and holiday making.

One day, I will count, how many food and beverage outlets there are to choose from but I would estimate that within an 11km stretch there are over 200 to choose from. These range from beach clubs to coffee shops and it is undeniable that the Crescent offers an amazing array of ways to spend a pleasant afternoon or a more energetic evening.

How much will it cost you to live on the Crescent at Palm Jumeirah?

Palm Jumeirah living has never been cheap but at the end of the day you get full sea views and beautiful white beaches to laze on.
I can consult on any particular development that you may be interested in and I am always happy to find recent sales to support my views.
As a rough guide, the apartments sell from around AED1500 per square foot depending on views and building.
Villas are rare on the crescent and start from around AED 16m for a 5 bed.
For more detailed pricing please contact me directly. (I really do know what I am talking about so you will get the best advice).

Re-sale value on the crescent, Palm Jumeirah

What new properties can we expect on the Crescent, Palm Jumeirah?

Here is a list of the developments that will be handed over in 2019

Balqis Residence

The 8

22 Carat

W Hotel and Residences

What can we expect in the future?

One of the big attractions for investing or holidaying on the crescent is the plethora of hotels and therefore food outlets to choose from. You simply couldn’t sample them all no matter how hard you tried.
The Crescent is going to be linked to the new Dubai Harbour by Emaar which in turn is linked to Bluewater by Meeras.
A short walk will take you to the latest beachside developments where branded buildings ( such as Elie Saab) will lead you to the Dubai Lighthouse the Harbour Mall and also The Dubai Eye.
The bridge from the crescent to the Emaar beachfront is going to breathe new life into the already vibrant crescent and I am sure will ensure that the Palm Jumeirah retains it’s positioning as one of the most visited tourist destinations in Dubai.

If anybody wants to discuss this further I would be delighted to have a chat.

Mark 050 1131134