Dubai: Based on the most recent weekly figures from the Dubai Land Department, a plot and built-up features of the Palm Jumeirah got sold for Dh600 million. Frond N’s home is just under 59,600 square feet, reinforcing the island’s reputation as the region in Dubai where mega-sized sales are the rule of the day.
Land on the Palm that sold for Dh206.52 million was the second most expensive deal.
According to industry experts, “involving a villa also expects a deal of Dh600 million per square feet; the price is more than 10,000. According to the source, anything done these days on the Palm is pretty pricey. For some time, Palm will continue smashing records.
The most recent acquisition, just finalised a few weeks ago, comes after the record-breaking purchases of Dh280 million and Dh302.5 million for Palm homes this year. Other information would be required to understand why the most recent one climbed to Dh600 million, including the specific built-up area over the roughly 60,000 square feet of land.
Increasingly so now that undeveloped land on the Palm is becoming more uncommon and is commanding eye-catching prices.
“Palm Flower”
The most recent ultra-luxury skyscraper on the Palm has started construction and will feature 11 floors. The developer is Alpago Properties, which has a reputation for completing high-value deals on the island. Alpago truly built the Dh302.5 million property, which is a part of a cluster of 6 villas on the Frond G and is referred to by the developer as the Billionaires Row.
The “Palm Flower,” an 11-story skyscraper, was initially displayed last year. Each level will only have one penthouse, with ten residences taking up a whole floor each and one mega-penthouse taking an entire floor. Its location is on Palm Jumeirah’s West Beach. The legendary UK-based business Foster & Partners, helmed by Norman Foster, is the architect behind the Palm Flower. The Gherkin in London, Apple Tower Theatre in Los Angeles, Hong Kong International Airport, and Alif – The Mobility Pavilion at Expo 2020 have all got associated with the agency.
