Murat Ayyildiz, Chairman Of Alpago Group: Why Palm Jumeirah’s Frond G Is The Billionaires’ Row Of The Middle East
While many factors contribute to Dubai’s leading position as an all-round economy, the emirate’s booming real estate market is becoming a bellwether sector, owing to a diverse portfolio of prime properties that work in its favor.
From elegant villas and fully serviced apartments to premium penthouses, the high-end luxury realty segment in particular boasts a massive choice spectrum, positioning the emirate as an attractive investment hub compared to other international cities in the world.
Currently, the Dubai high-end residential segment is marching ahead with spectacular growth. A significant number of affluent investors and some of the world’s wealthiest individuals move to Dubai to make the most of the unique luxury living experience it offers, as well as the exceptional cosmopolitan ambience.
This surge in demand stems from the country’s exemplary handling of the pandemic, the resounding success of the ongoing Expo 2020 Dubai, and flexible long-term visa options being offered by the UAE government to investors.
Dubai’s luxury property market recorded the third highest price growth among global cities in 2021. A total of 5,205 apartments and 552 villas were sold in the fourth quarter of 2021, with deals valued at AED 17.07 billion ($4.64 billion). Notably, AED 3.4 billion ($925.7 million) were transacted in Palm Jumeirah, the highest sales volume for this period, based on data from the Dubai Land Department. Palm Jumeirah itself drove 5% of the city-wide luxury properties transactions during Q4 2021.
The Palm Jumeirah, also known as the eighth wonder of the world, is a man-made island, with a palm tree-inspired form, consisting of a trunk with 17 fronds all crowned by a circular crescent. Located off the coastal area of Jumeirah Beach, it is an exclusive community and is home to some of the biggest international celebrities and high-net-worth individuals from around the world.
As Dubai’s premier coastal estate, Palm Jumeirah’s fronds feature ultra-luxurious residences, varying from apartments to townhouses and luxury villas. Of the 17 fronds, very few have signature villas. Frond G, however, features an impressive collection of 13 Signature villas and three Double Signature villas, six of which have been developed by Alpago Properties.
The neighborhood is one of kind, thanks to an array of stylish residential villas that offer world-class amenities and a unique view of the iconic Atlantis and Royal Atlantis residences. Frond G is also one of the shortest fronds on the Palm and is surrounded by the freshest blue waters of the Arabian Gulf. Two of the most prestigious neighborhoods in the world, each known as ‘Billionaire’s Row’, are located on Manhattan’s 57th Street and on The Bishops Avenue in London. And soon the Frond G of the Palm Jumeirah will be added to the list as the ‘Billionaire’s Row of the Middle East’.
Today, billionaires of the world are seeking out prime properties for sale in Dubai like never before and The Palm Jumeirah, with its waterfront lifestyle in the heart of Dubai, is a top destination. It is about time that the Middle East has its own ‘Billionaire’s Row’–and it will be located on Frond G of Palm Jumeirah.