thepalmdubai.ae

21/12/2016

http://www.khaleejtimes.com/business/real-estate/a-jewel-in-the-crown-of-palm-jumeirah

Russian developer Forum Group's XXII Carat gated community is targeted at the well-heeled

09/11/2016

Time Out has info and pictures as Palm Jumeirah Boardwalk opens with two piers to follow. East and West Crescent now has food trucks and walkways

26/09/2016

This September, Kempinski Hotel & Residences Palm Jumeirah invites guests to celebrate the fifth anniversary of its grand opening. To honour the occasion, enjoy 20% off the best available rate valid until 31st December 2016 along with five unique experiences, including scrumptious cakes waiting especially for you in your room upon arrival, a romantic dinner for two at Bonfire Beach Restaurant, a five-course meal (with the opportunity to cook your course of choice with the chef), a relaxing 30-minute massage for two at Cinq Mondes Spa and a private cabana to use while lounging poolside.

Join the hotel’s staff – from porters to housekeepers, chefs to servers, front of house and management; many of whom have been with Kempinski Palm Jumeirah since its inception – in commemorating the best in luxury and finesse, and five wonderful years of excellence.

This September, Kempinski Hotel & Residences Palm Jumeirah invites guests to celebrate the fifth anniversary of its grand opening. To honour the occasion, enjoy 20% off the best available rate valid until 31st December 2016 along with five unique experiences, including scrumptious cakes waiting espe...

20/09/2016

A Russian-backed property developer plans to develop luxury villas on Palm Jumeirah.

Forum Group wants to build 22 luxury villas on the crescent of the artificial island close to hotels such as the Kempinski and Jumeirah Zabeel Saray.

The 500,000 square feet development will be called XXII ­Carat villas situated near the end of the Palm Jumeirah West Crest near a number of hotels such as the Kempinski and Jumeirah Zabeel Saray.

The developer has owned the plot for some time and had considered different uses for the landbefore deciding on luxury villas.
“It’s a great location,” said Matthew Green, head of research and consultancy for CBRE property consultants. He said he believes the UAE will see more of this type of development – small villa communities that are easy to manage – as the property market recovers.

“Smaller communities on Palm Jumeirah will always attract HNWIs. I think the developers already have some investors from their home market lined up but there is a precedent for larger homes to sell fairly easily in Dubai. It’s likely that these homes will not be a primary residence but weekend or holiday retreats.”

A Russian-backed property developer plans to develop luxury villas on Palm Jumeirah. Forum Group wants to build 22 luxury villas on the crescent of the artificial island close to hotels such as the Kempinski and Jumeirah Zabeel Saray. The 500,000 square feet development will be called XXII ­Carat vi...

07/09/2016

Dubai-based developer Nakheel has unveiled a luxury project located on the Palm Jumeirah featuring 12,000 sq ft branded penthouses.

Named Palm 360, the project will be the main feature of Nakheel’s stand at the Cityscape Global exhibition that gets underway in Dubai today, the developer said in a statement.

Located on Palm Jumeirah’s western crescent and set in 500,000 sq ft of landscaped ground, the project is anticipated for delivery in mid-2020. It will include two boutique hotels with 110 rooms between them and 252 one- and two-bedroom serviced apartments, the statement added.

The highlight of the project will be 12 lavish, four-bedroom penthouses, six of which will each cover an area of 12,000 sq ft – equivalent to the size of four tennis courts. The penthouses will occupy an entire floor each – or two floors in the case of the duplexes – and feature facilities such as private infinity pools, gyms and home theatres, Nakheel said.

The twin towers of Palm 360 will rise to a height of 220m, offering sweeping views of the Arabian Gulf and the Dubai skyline. According to Nakheel, the unique features of the property will include a rooftop infinity ‘sky pool’ and a speciality restaurant complex connecting the two buildings at the 30th floor, more than 170m above ground. The length of the pool will be 135m, which is longer than a football field, the statement said, adding that the project’s hotels will occupy the first nine floors of each tower,

“Palm 360 will take luxury living and hospitality to a whole new level. Another iconic development for Palm Jumeirah and a new landmark for Dubai, this unique creation brings together the very best in location, views and amenities at what will undoubtedly be one of the most sought-after addresses in the world,” said Ali Rashid Lootah, chairman, Nakheel.

12,000 sq ft penthouses, 30th-floor infinity ‘sky pool’ and boutique hotels among highlights of 220m Palm 360 towers Dubai-based developer Nakheel has unveiled a luxury project located on the Palm Jumeirah featuring 12,000 sq ft branded penthouses. Named Palm 360, the project will be the main feat...

29/08/2016

Azizi Developments’ 178-unit hotel apartment project to feature 120 one-bedroom units, 58 two-bedroom units and four penthouse apartments

Dubai: Dubai-based Azizi Developments on Wednesday announced its new flagship project, a Dh750 million hotel apartment development on The Palm Jumeirah.

The 178-unit Azizi Hotel Apartments will feature 120 one-bedroom units, 58 two-bedroom units and four penthouse apartments, a statement from the company revealed.

The flagship project will be completed in 2018 and is set on a plot of 120,989 square feet.

The total value of Aziz’s current portfolio in Dubai, including the new Palm Jumeirah project, is worth Dh7.3 billion.

Azizi Developments’ 178-unit hotel apartment project to feature 120 one-bedroom units, 58 two-bedroom units and four penthouse apartments Dubai: Dubai-based Azizi Developments on Wednesday announced its new flagship project, a Dh750 million hotel apartment development on The Palm Jumeirah. The 178-u...

25/08/2016

UAE-based developer Azizi Developments has launched US$204 million (AED750 million), Azizi Mina Hotel Apartments, located on The Palm Jumeirah, according to ConstructionWeekOnline.

Due to be completed in 2018, the new 178-unit Azizi Mina Hotel Apartments are set on a plot area of 11,240m2.

Once complete, the fully furnished upscale hotel apartment will offer 120 one-bedroom and 58 two-bedroom units, in addition to four luxury penthouses.

Azizi Developments CEO Farhad Azizi said: “The Azizi Mina Hotel Apartments has become Azizi Developments’ flagship project in the Dubai market and will be one of the largest properties and most distinctive to be situated on The Palm Jumeirah. This takes the value of our current portfolio in the Emirate to $1.9 billion (AED7.3 billion) for a total of 20 projects already under construction.

“Clearly, this level of investment demonstrates our commitment to the Dubai property market and our belief in the vision of HH Sheikh Mohammed bin Rashid Al Maktoum, vice president of the UAE and ruler of Dubai to transform Dubai into one of the leading cities in the world.”

He added: “While we have several interests and projects in many countries around the world, Dubai is a favourite with Azizi Developments, due to its location, great infrastructure, business-friendly rules and regulations, easy access to support from investors and a clear legal framework relating to the real estate market.”

Azizi Mina will offer central air conditioning, fully fitted kitchens with appliances, fitted wardrobes, en-suite tiled bathrooms and guest toilets, balconies, and high-speed internet access.

UAE-based developer Azizi Developments has launched US$204 million (AED750 million), Azizi Mina Hotel Apartments, located on The Palm Jumeirah, according to ConstructionWeekOnline. Due to be completed in 2018, the new 178-unit Azizi Mina Hotel Apartments are set on a plot area of 11,240m2. Once comp...

23/08/2016

23/08/2016

Dubai-based master developer Nakheel will be completely debt-free following full payment of its Dh4.4 billion trade creditor sukuk when it matures on Thursday (August 25, 2016), the firm said in a statement today.

The developer of the world’s largest manmade islands, the Palm islands in Dubai, was in the midst of an elaborate debt restructuring exercise that began in August 2011. The developer has now said that all creditor obligations have been fulfilled, with this scheduled payment marking the end of the company’s financial restructuring.

“In six years since, since March 2010, Nakheel has achieved what some considered impossible: completion – ahead of time – of one of the largest, most complex financial restructuring exercises, followed by the successful ex*****on of a new business plan that placed us on a new path to growth,” said Ali Rashid Lootah, Chairman of Nakheel.

“As we close the curtain on our restructuring programme, we look forward to starting a fresh chapter in which we are stronger and more resilient than ever,” he said.

Nakheel was among the Dubai developers that were impacted due to a global credit crunch in 2008/09, and the subsequent decline in the emirate’s property prices.

However, with Dubai and the UAE’s property sector rebounding handsomely from those lows in the last six years, Nakheel has achieved its restructuring goals ahead of time

Two years ago, on August 21, 2014, Nakheel had prepaid all Dh7.9bn of its bank debt – four years before the scheduled repayment date.

“Today is undoubtedly one of the biggest milestones in our history,” Lootah said, adding that the firm was thankful to its trade creditors, lenders, investors, business partners and regulatory authorities who trusted and supported it throughout, and played a significant role in the successful implementation of the business plan adopted in August 2011.

Nakheel’s debt-restructuring milestones:

• Meeting the restructuring plan targets two years ahead of the scheduled five year implementation programme, with savings of Dh25 billion;

• Repaying all Dh7.9 billion of its bank debt four years ahead of the scheduled repayment date (final payment made on 21 August 2014);

• Year-on-year profit growth (2010: Dh0.96 billion; 2011: Dh1.28 billion; 2012: Dh2.02 billion; 2013: Dh2.57 billion; 2014: Dh3.68 billion; 2015: Dh4.38 billion);

• Boosting the local economy by making payments of Dh38 billion to various creditors and contractors, and awarding contracts worth Dh22 billion for project construction and operational matters

• Launching more than 70 new projects – ranging from neighbourhood retail centres to entire new communities – some of which are completed and operational while others are in various stages of development

• Handing over 9,132 villas and apartments, and a further 1,923 land units to customers; and

• Diversifying Nakheel’s business to increase cash-generating assets.

Dubai-based master developer Nakheel will be completely debt-free following full payment of its Dh4.4 billion trade creditor sukuk when it matures on Thursday (August 25, 2016), the firm said in a statement today. The developer of the world’s largest manmade islands, the Palm islands in Dubai, was i...

22/08/2016

Construction of Omniyat‘s One Palm project on Dubai’s Palm Jumeirah island is currently making good progress, according to the developer.

Omniyat has revealed that the One Palm project, which is located on the left trunk of Palm Jumeirah, has reached level three of its cores, with first level slabs now completed at 16m above ground level.

Slabs are expected to be completed up to level 15 by the end of 2016, making One Palm taller than its neighbouring developments. The towerwill have a height of 100m upon completion.

With 90 residences, the 84,541m2 development is set to become the tallest private residence on the Palm.

One Palm will be equipped with a range of amenities and facilities, including The One Palm Clubhouse, which includes a fine-dining restaurant, indoor and outdoor swimming pools, outdoor cinema and BBQ area, cigar lounge, yacht club, and spa.

The project will house Dubai’s “most expensive” residence, the 3,994m2 One Penthouse. The apartment, priced $54m (AED200m), will have seven bedrooms, eight bathrooms, and will offer full sea and Dubai Marina skyline views. The apartment will also boast 1,486m2 of terrace space, private access, a personal gym, indoor and outdoor treatment rooms, an art gallery, a private office, and a private elevator.

The property, due for completion in 2018, is designed by New York architects Soma. Owners will be able to choose their interior and finishes from two of the world’s most esteemed designers to match their individual style, it said.

Buyers will be able to choose from interiors designed by Japanese firm, Super Potato, known for its chic, modern fit-outs, or the rich textures of London-based luxury design studio, Elicyon, famed for its involvement in the renowned One Hyde Park building.

Mark Phoenix, managing director of Omniyat, said: “With its superior list of facilities and amenities, paired with extraordinary design, luxurious interiors and unspoilt views, it’s no surprise that One Palm, has been billed as Dubai’s most exclusive address.

“It’s clear to see from our latest construction report that development of One Palm is coming on in leaps and bounds. This has clearly piqued the interest of potential buyers who are keen to get their hands on one of these magnificent properties.”

Construction of Omniyat‘s One Palm project on Dubai’s Palm Jumeirah island is currently making good progress, according to the developer. Omniyat has revealed that the One Palm project, which is located on the left trunk of Palm Jumeirah, has reached level three of its cores, with first level slabs…

17/08/2016

DUBAI: Dubai developer Nakheel announced on Tuesday a new collaboration with Reel Cinemas for a five-screen luxury movie and entertainment centre at The Pointe on Palm Jumeirah.

Reel Cinemas at The Pointe is said to be the first dine-in cinema in the region, featuring a movie theatre within a restaurant, according to a statement from Nakheel. The company said the Pointe is scheduled to open in the second quarter of 2017.

The Pointe is a Dh800 million waterfront dining and leisure destination, spanning 1.4 million square feet and featuring a 1.5km promenade and nearly 150 restaurants and retail outlets.

DUBAI: Dubai developer Nakheel announced on Tuesday a new collaboration with Reel Cinemas for a five-screen luxury movie and entertainment centre at The Pointe on Palm Jumeirah. Reel Cinemas at The Pointe is said to be the first dine-in cinema in the region, featuring a movie theatre within a restau...