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Palm Jebel Ali is expected to be twice the size of its neighbouring island, Palm Jumeirah. The new island will add another 110 km of coastline to Dubai. There’s no exact information about its future infrastructure but according to the media, it will include real estate for 35,000 families and a variety of hotels and public spaces. The Palm Jebel Ali project was launched in 2002 but was paused in 2008 due to the global financial crisis. Today, however, the luxury real estate market in Dubai is booming, largely due to a major influx of foreign investors. Against this backdrop, developer Nakheel has announced the relaunch of construction.

In Q1 2023, 88 luxury properties worth more than AED 36.73 million (USD 10 million) were sold in Dubai. Total sales exceeded AED 6 billion (USD 1.63 billion). In comparison, there were 67 luxury homes sold in Hong Kong and 58 in New York over the same period. The overall number of super-premium properties sold worldwide is 417. Due to the large foreign investment inflows, the Dubai real estate market has grown remarkably over the past five years and now accounts for about 17% of the total luxury real estate sales worldwide, up by 15% since 2019. London is next in line at 14%. Experts have pointed out that the sales growth in Dubai is far ahead of the corresponding figures in comparable markets and is contributing to the increase in the price of luxury housing worldwide.

The developer Omniyat, together with the ultra-luxury hotel operator Dorchester Collection, announced the launch of The Vela in the Business Bay community. The Vela is a high-end residential complex comprising 38 spacious apartments. The building is scheduled to be completed by the end of 2026. Currently, the initial price of the apartments in The Vela is AED 30 million (USD  8.17 million). Each residential unit will occupy an area from 395 to 2,136 square metres and will have a private swimming pool. The developer also promises a large number of amenities, including a gym, a movie theatre, children's playgrounds, lounge areas, spas and a private marina. The Dorchester Collection's portfolio of luxury properties includes Ava, One and Orla on Palm Jumeirah, as well as The Lana in...

The initiative was launched under the auspices of the Dubai Land Department (DLD) represented by the Real Estate Regulatory Agency (RERA). As per the plan, developers will dedicate one unit from their property projects to support charity needs. The proceeds will be used for educational purposes, medical care for the underprivileged and support for orphans and those in need. Joseph Thomas, a co-founder of Ellington Properties, praised the idea of the endowment and its role in fostering a culture of philanthropy in the UAE.

KAD Engineering & Construction has been chosen by Damac Properties to perform the infrastructure work in the luxurious community. Its work will include the construction, testing and commissioning of roads, parking lots and kerbs, as well as the installation of road signs and markings. The total length of the roads will be approximately 9.2 kilometres. In addition, KAD will take over the engineering work of telecommunications, potable water, street lighting and sewage in the area. Damac Lagoons is a group of clusters with luxury property on the shores of crystal artificial lagoons. The main idea of the project is to provide the highest standard of living in a peaceful environment with easy access to the bustling metropolis.