Due to the correction in the Dubai property market, we at Think 2 Invest currently have a large selection of shore line apartments, garden homes and signature villas available at significantly reduced prices - all offer excellent value for money and are located on the Palm Jumeirah.
Investment Outline
The Palm Jumeirah is a man-made island developed over the past 4 years off the shores of Dubai in the United Arab Emirates, covering an area of 7 million square meters and extending 6.5 kilometres into the Arabian Gulf. The island is surrounded by a 12 kilometre long crescent shaped breakwater built with over 7 million tons of rock and sand and extends 5 kilometres (three miles) into the sea south of Dubai city. More than 90 million cubic metres of sand have been reclaimed from the seabed using the latest dredging techniques to build the Island.
Now almost complete, the Palm development includes 17 huge fronds and contributes to the city's position as a premier global tourist destination. The island will eventually support 50 luxury hotels, 2,500 exclusive residential beachside villas, 2,400 shoreline apartments, two marinas, water theme parks, restaurants, shopping malls, sports facilities, health spas and cinemas.
The project has taken many years of methodical planning and exhaustive feasibility studies to ensure that the islands can be built without disrupting the environment.
Residents and visitors currently have access to the Island by two 300 m bridges from the mainland or boat to two marinas, while the main causeway also has a monorail system.
The intention behind the project has been to elevate Dubai from regional players to leaders in tourism development who focus on modernising and expanding tourism infrastructure to attract more tourists.
The Deal
Having been established for several years in the Middle East, Think 2 Invest now have access to a wide range of property on the Palm jumeirah - majority of which has already been completed apart from a few fonds which are soon to be built.
When Nakheel first released the Garden Homes on the Palm, they were being sold for approx. 3 m AED and this was off plan. These soon increased to prices of over 20m AED with some signature vials commanding over 40m AED. However, due to the credit crunch and the massive drop in the Dubai property market, the price of property has started to correct itself and investors can now buy properties on the Palm at fantastically reduced prices.
We are now in a position to offer investors property on the palm at the correct market value and have a large selection of properties on offer.
However, due to restrictions in lending, no finance is available on any of the projects and hence they discounted properties will only apply to cash rich investors.
For Example, a typical 1 bedroom apartment with canal view having an area 1184sq/ft, is currently being offered at 1.4 m AED – this equates to approx. £238k.
Palm Facts you should know
- The creation and development of The Palm is an unparalleled feat of design and engineering. The Palm is destined to be like no other place on earth
- Rocks weighing a total of 7 million metre cubed (per island) are being brought in from sixteen different quarries throughout the United Arab Emirates
- The Palm comprises approximately 100 million cubic metres of sand and rock
- If all the fill materials used to build one Palm island were placed end to end, a wall two meters high and half a metre thick could circle the world three times
- Dredges play a prominent role in building The Palm. Sand is first dropped into place and piled at a specific angle of repose, ensuring it will hold its place
- After the initial dumping of sand, a dredger brings the sand level to the surface with a process called "rainbowing", which literally sprays the sand into proper position
- The Crescent surrounds the island and acts as a breakwater - able to withstand a 4m wave. It is built from the bottom up, beginning with the sand, geo textile fibre, small rocks, and then medium sized rocks, once above water
- Expert Divers examine rock placement underwater to ensure correct positioning. Divers are also used to review placement of geo textile
- Over 100 studies from transportation, marina design and water supply to technology and civil works have been completed to assess and ensure The Palm's feasibility
- Due to its immense scale and unique shape, The Palm, Jumeirah is visible from space with the naked eye
- Over 12,000 Palm trees will be grown on a nursery in Jumeirah, Dubai, which the Island will require
- From crabs to shell fish, reefs, coral and rocks, the Arabian Gulf is full of marine life. The Palm will help stimulate its development by adding nutrient rich materials
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