The luxurious lifestyle of Palm Jumeirah is the ultimate destination for the rich and famous. Located in the United Arab Emirates, this exclusive residential area is home to some of the most luxurious and sought-after properties in the world.
From beachfront villas with breathtaking views to opulent high-rise apartments, Palm Jumeirah offers a wealth of options for those seeking a life of luxury. With access to world-class amenities, including stunning beaches, world-renowned restaurants, and top-notch shopping, Palm Jumeirah is the perfect place to call home.
Whether you’re looking to purchase a primary residence or an investment property, Palm Jumeirah is the first choice of the rich and famous.
In this blog, we are going to discover why Palm Jumeirah is the most sought-after place for rich investors in the city.
Palm Jumeirah – An Exotic Residency With Luxury
Palm Jumeirah is an iconic man-made island in Dubai, UAE that is often referred to as the ‘eighth wonder of the world’. It is a residential and tourism destination, offering a variety of luxury hotels, waterfront villas, and apartments, and a range of retail, entertainment, and leisure attractions.
The island is surrounded by the crystal-clear waters of the Arabian Gulf, giving it a picturesque backdrop. Palm Jumeirah is an attractive option for rich people because of its luxury lifestyle, world-class amenities, and close proximity to the city center. It is also home to some of the most luxurious hotels in Dubai, with exclusive access to beaches, marinas, and private pools.
Residents also have access to a wide range of shopping, dining, and entertainment outlets, making it a desirable place to live. Finally, the island also boasts some of the best views in Dubai, offering a truly luxurious living experience.
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Palm Jumeirah Becomes The Ultimate Choice For High Net Worth Rich Profiles
The Luxury Property – Palm Jumeirah in Dubai was revealed as the top choice of ultra-rich investors in Dubai in 2022. According to the study by Luxury Property Consultancy, the man-made island accounted for about 30% of the real estate deals in Dubai in the Dh 20 million plus the luxury market segment in the year 2022 as per the Penhouse.ae.
In the last years, Dubai Hills also added around 20% of the total transactions volume in the segment, which saw 826 super luxurious properties sold out for a combined value of Dh 29 billion.
And in particular, Dubai has been attracting a lot of investors from around the world who are looking for something luxurious and exotic to invest in that can also guarantee higher returns on investment. As per estimates, the city is almost home to over 67,000 millionaires and the number is assumed to increase by fifty-two percent in the next ten years with the largest flow of more mega-rich migrants to the country.
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In the Middle East, Dubai is also ranked the top city for the HNWI wealth that is followed by Tel Aviv – this report is according to the New World Wealth and Henley & Partners study.
And as per the report by the Consultancy Knight Frank, the number of HNWIs in the United Arab Emirates is predicted to rise from 163000 in 2021 to reach over 228,000 by 2026 which will reflect a 39 percent increase.
Why Are Millionaires Investing In Palm Jumeirah?
1. World-Class Infrastructure:
Palm Jumeirah is connected to Dubai’s world-class infrastructure, including major road networks, the Jebel Ali Free Zone, and the Dubai International Airport.
2. Tax Advantages:
Dubai imposes no taxes on personal income, no capital gains, no inheritance, and no corporate taxes.
3. Versatile Investment Opportunities:
Palm Jumeirah offers a variety of real estate options, from residential villas and apartments to luxury hotels and commercial properties.
4. Robust Economic Growth:
Dubai’s economy is projected to grow at an average of 5.5% annually over the next 5 years, making it one of the most promising real estate markets in the world.
5. Strategic Location:
Palm Jumeirah is located in the center of the Gulf, providing easy access to the rest of the Middle East, Asia, Africa, and Europe.
6. Luxurious Amenities:
Palm Jumeirah offers luxurious amenities such as marinas, spas, golf courses, and waterfront restaurants.
7. High Rental Yields:
Palm Jumeirah attracts high rental yields for investors, especially those with luxury properties.
8. Quality of Life:
Palm Jumeirah offers a serene and luxurious lifestyle, making it a desirable place to live and invest.
What Are Some Specialties Of Palm Jumeirah That Attracts The High Net Worth Profile
- Luxurious waterfront villas and apartments with stunning views of the Arabian Gulf.
- World-class marina and yacht club with private berths and boat slips.
- Private beach club and beach access to some of the most beautiful beaches in the world.
- Luxury shopping and dining experiences.
- Variety of leisure and entertainment options including golf courses, waterparks, theme parks, and more.
- High-end spas and wellness centers.
- Unparalleled security and privacy are provided by a 24-hour security team.
- Close proximity to Dubai’s thriving business district and world-class attractions.