Prime Minister of the United Arab Emirates (UAE) and Dubai’s ruler Sheikh Mohammed bin Rashid Al Maktoum has unveiled a new plan for the Palm Jebel Ali, twice the size of functioning Palm Jumeirah, to provide the “highest quality of life” to tourists and visitors.
“Its visitors and tourists will enjoy more than 80 hotels and resorts that provide beautiful tourist ex-periences,” Sheikh Rashid Al Maktoum, who is also vice president of the UAE, said on Instagram.
“It’s marine and green garages will provide housing with the highest quality of life,” he added. Palm Jebel Ali, he said, will have beaches that stretch up to 110km. “We announced our 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.”
Palm Jebel Ali will feature mixed-use walkable neighbourhoods, incorporate smart city technologies and sustainability practices, as well as provide a diverse range of mobility options for residents, visi-tors, and communities.
As much as 30 per cent of the island’s energy requirements will be obtained from renewable sources. Sheikh Rashid Al Maktoum said Dubai will continue to innovate and deliver world-class lifestyle destinations that enhance its status as the globe’s best city to live, work and visit.
“We have vast ambitions for the future and we are confident that we can transform our grand vision for development into reality,” he said.
The existing Palm Jumeirah is one of the most sought-after areas in Dubai and a favourite of Rus-sians who have flocked to the emirate following the conflict in Ukraine, contributing to a red-hot property market.
State-owned company Nakheel, which was taken over by the government in 2011 as part of a $16 billion rescue plan in the aftermath of Dubai’s 2009-2010 real estate crash, is the developer of the islands.
Nakheel in November secured 17 billion dirhams ($4.63 billion) in financing as it accelerates plans for new waterfront projects including Dubai Islands, another man-made island project formerly known as Deira Islands.
The real estate market in Dubai, the Middle East’s financial and tourism hub, began its recovery in early 2021 as the government moved to quickly reopen its economy and airports.—Agencies
