Dubai: The rule of Dubai has announced a new plan for the Palm Jebel Ali, a man-made palm-shaped island that has been dormant since 2009 following a real estate crash, and is double the size of the functioning Palm Jumeirah.
"Its visitors and tourists will enjoy more than 80 hotels and resorts that provide beautiful tourist experiences," Sheikh Mohammed bin Rashid Al Maktoum, who is also vice president and prime minister of the UAE, said on Instagram.
The existing Palm Jumeirah is one of the most sought-after areas in Dubai and a favourite of Russians who have flocked to the emirate following the conflict in Ukraine, contributing to a red hot property market.
State-owned company Nakheel, which was taken over by the government in 2011 as part of a $16 billion (10 billion pounds) rescue plan in the aftermath of Dubai’s 2009-2010 real estate crash, is the developer of the islands.
Nakheel in November secured 17 billion dirhams ($4.63 billion) in financing as it accelerates plans for new waterfront projects including Dubai Islands, another man-made island project formerly known as Deira Islands.
The real estate market in Dubai, the Middle East's financial and tourism hub, began its recovery in early 2021 as the government moved to quickly reopen its economy and airports.
The Palm Jebel Ali project was launched by Nakheel Properties, a real estate developer in Dubai, in 2002. It was intended to be even larger than Palm Jumeirah, with a total area of 134 sq km (52 square miles). The island was designed to have a large crescent-shaped breakwater, forming a protective barrier for the inner areas.
The construction of Palm Jebel Ali began in 2002, and it involved extensive dredging and land reclamation. Sand from the seabed was used to create the island’s shape and elevation. The development plans included residential areas, commercial zones, leisure facilities, marinas, and a number of luxury hotels and resorts.
However, the construction of Palm Jebel Ali faced significant challenges and delays. The global financial crisis of 2008 had a profound impact on Dubai’s real estate market, leading to a slowdown in construction projects. The Palm Jebel Ali project was put on hold, and construction never resumed on a large scale.
Earlier in the month, it was reported Dubai will have five times as many beaches by 2040, following a major announcement to develop tourism and wellbeing for residents, according to Arabian Business.
HH Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai made the announcement on social media, after a visit to Jebel Ali Beach.
The ambitious plans will see the emirate increase the area of beaches in the emirate from 21km to 105km.
Contemporary urban planning practices
Palm Jebel Ali will feature mixed-use walkable neighbourhoods, incorporate smart city technologies and sustainability practices, as well as provide a diverse range of mobility options for residents, visitors and communities. This will position Palm Jebel Ali as a global benchmark for waterfront living, as well as contribute to the transformation of the landscape of Dubai.
Palm Jebel Ali has been designed to become almost completely self-sufficient in terms of power generation once complete. As much as 30 per cent of Palm Jebel Ali’s energy requirements will be obtained from renewable sources.
Add new comment