With dozens of kilometers of beach and room for tens of thousands of holidaymakers: Dubai has re-inaugurated construction on the Palm Jebel Ali artificial faction project, work on which began 21 years ago.
Construction began in 2002 as part of a series of artificial islands, including Palm Jumeirah and Palm Deira. The various islands were built in the form of palms that symbolize the traditional culture of the desert emirate. Dubai hopes the new real estate project will help meet the needs of a growing population, with artificial islands significantly increasing the area on the coastline.
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The tourist site will cover an area of 13.4 square kilometers, twice the size of the artificial island of Palm Jumeirah. The project will also add no less than 110 kilometres to Dubai's seafront, including 80 hotels and resorts on seven artificial islands.
In total, the grandiose project will be able to house 35,30 families. Another interesting statistic is that the public facilities in Archi Peleg will receive a renewable energy supply that will reach up to <> percent of total consumption. In addition to hotels and resorts, three amusement parks will also be built in Archi Peleg, which will be operated by an American corporation.
If the huge size of the real estate project is not enough, then it is worth noting that it will merit "smart city" technologies, and a variety of means of transport for tourists. Beyond that, Palm Jumeirah's artificial branch (the previous project) is already one of Dubai's most sought-after areas – and a favorite with Eastern European tourists. So the new project could become one of the most sought-after investment destinations in the Middle East.
مشروع تطوير "نخلة جبل علي" ... أيقونة عالمية تعكس ريادة #دبي في مجال تطوير الوجهات البحرية
- 13.4 كيلومترات مربعة
- تضيف 110 كيلومترات لسواحل دبي
- تضم 80 فندقاً ومنتجعاً
- 7 جزر مترابطة تشكل تصميم النخلة
- موطن لنحو 35 ألف... pic.twitter.com/rTuAjy8VtZ
— Dubai Media Office (@DXBMediaOffice) June 1, 2023
The original plan was to complete Palm Jebel Ali by mid-2008. But the financial crisis in the US shuffled the cards in global markets and did not skip even Dubai. The prices of the first houses in the project plummeted by tens of percent (some by 40 percent), and the value of real estate throughout the emirate crashed during those years.
Subsequently, the project stalled due to problems with the abandoning investors and a legal dispute. It so happened that over the past decade, construction has been put on hold and many feared that the great efforts would end with a white elephant, a symbol of the decline in investment. Now, the emirates convey renewed optimism in view of the return of investment to the country, and especially due to the momentum of the local real estate industry.
Palm Jumeirah. The new project will be twice the size, Photo: Reuters
The current manager of the project is Nakheel, which was taken over by the government in 2011 as part of a rescue program. Not coincidentally, the ruler of Dubai, Sheikh Mohammed Al Maktoum, came to unveil the new plan.
"Visitors and tourists will enjoy more than 80 hotels and resorts that will provide beautiful tourist experiences," Shalit wrote on his Instagram account, noting that it will be a place to live with a high quality of life. The Emir concluded: "We have announced a goal to double Dubai's economy by 2033, and every day we add a new brick in building the most beautiful city in the world."
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