Haute Living has long had a fascination with Dubai, even dedicating an entire issue to the haute spot in the United Arab Emirates (July/August 2006). The Palm Jumeirah, one of the many man-made islands that are adding more than 600 miles to Dubai’s coastline, has welcomed its first residents, according to AP reports. The Palm Jumeirah’s homes were sold out in 48 hours when they went on the market back in 2002, when villas with their own private beaches were priced from about $600,000 to $1.6 million. Their value has increased by more than 20 percent since they first went on sale.
The Palm is a project of grand proportions, entirely master planned. Spread out over three islands, this development will boast dozens of luxury hotels, and thousands upon thousands beachside villas and shoreline apartments, not to mention marinas, water theme parks, restaurants, shopping malls, sport facilities, health spas, cinemas, and extensive dive sites. The Palm Jumeirah is the first to open to residents, and when complete, is expected to be home to some 120,000 residents.
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June 26, 2007Estate of the Day: TriBeCa
