– Volume and Value Breakdown
All launches thus far on Palm Jebel Ali have been either five, six or seven bedroom villas, with prices starting at AED 18 million and rising as high as AED 46.5 million. However, Palm Jebel Ali skews more towards the AED 18-30 million range, compared to Palm Jumeirah’s skew towards sales of AED 45 million and above.
– Citywide Comparison
Since its October 3rd 2023 launch, Palm Jebel Ali has accounted for the majority of citywide residential sales valued at over AED 18 million, netting a total sales value of over AED 12 billion. However, as mentioned in our previous report Pas de Deux, these are off plan sales. As a result, the actual value of cash that has been paid thus far is estimated to be closer to AED 2.5 billion.
– Total Performance Comparison
Interestingly, Palm Jumeirah prices were declining prior to the launch of Palm Jebel Ali, but have since recovered. However, Palm Jumeirah sales noticeably dropped in volume after Palm Jebel Ali was launched, and Palm Jebel Ali has also significantly outperformed Palm Jumeirah over the same time period in terms of sales value.