Latest news with #JumeirahIslands
Khaleej Times
08-07-2025
- Business
- Khaleej Times
Apartment prices in Dubai have risen almost a fifth this year
Apartment prices in Dubai have risen almost a fifth this year, a report showed on Wednesday, as the emirate continues to attract real estate investors from around the world due to its safe haven appeal and attractive policies. June 2025 saw the ValuStrat Price Index achieve 220.8 points, marking a 1.5 per cent monthly increase, down from 1.6 per cent in May, and a 23.9 per cent rise since June last year. Villa values climbed to 291.6 points, while apartments reached 174.7 points, all benchmarked to a base of 100 points in January 2021. Capital growth continues at a slightly slower pace with more locations surpassing previous price peaks. Transaction volumes declined monthly, and ready sales account for less than 30 per cent of total activity. Villa capital values grew 1.9 per cent monthly, down from 2 per cent in May, with an annual gain of 28.7 per cent. The strongest annual performers included villas in Jumeirah Islands (41.1 per cent), Palm Jumeirah (40.5 per cent), Emirates Hills and The Meadows both at 27.5 per cent. Meanwhile, the lowest annual gains were recorded in Mudon (8.1 per cent). Dubai's freehold villas are, on average, valued at 180 per cent above post-pandemic levels. Apartment prices rose by 1.1 per cent monthly, recording an annual growth of 19.1 per cent. The highest yearly capital gains were seen in The Greens (24.4 per cent), Dubai Silicon Oasis (23.4 per cent), Dubailand Residence Complex (23.3 per cent), Palm Jumeirah (22.9 per cent), and Town Square (22.4 per cent). In contrast, the lowest capital value increases were recorded in International City (11.2 per cent) and Business Bay (15.8 per cent). Apartment valuations in Dubai are, on average, 73 per cent higher than post-pandemic levels. Off-plan vs ready homes Oqood registrations for off-plan homes declined 8 per cent monthly but were 60.1 per cent higher annually, accounting for 73.4 per cent of total residential sales. Meanwhile, ready secondary-home transactions dropped 14.3 per cent since May, but were 11 per cent higher on an annual basis. Prime home sales There were 40 transactions for ready properties priced over Dh30 million, 15 of which were priced over Dh50 million. These properties were located in DIFC, Palm Jumeirah, Arabian Ranches, Jumeirah Golf Estates, Dubai Hills Estate, Jumeirah Park, Al Barari, and Downtown Dubai. Top locations Top off-plan locations transacted included projects in Jumeirah Village Circle (9.1 per cent), Dubai Investment Park Second (7.2 per cent), Uptown Motorcity (5.9 per cent), Damac Island City (5 per cent), and Business Bay (4.8 per cent). Both Dubai Silicon Oasis and Uptown Motorcity broke their individual records with the highest number of off-plan homes traded in one month. Meanwhile, the majority of ready home sales were concentrated in Jumeirah Village Circle (9.2 per cent), Business Bay (5.5 per cent), Dubai Marina (4.9 per cent), Downtown Dubai (4 per cent), and DIFC (3.9 per cent).
Al Bawaba
02-07-2025
- Business
- Al Bawaba
Palma Development Commences Enabling Works for West Residence at Serenia District in Jumeirah Islands
Palma Development, one of the pioneering developers in the UAE real estate industry, has announced the appointment of APCC Piling & Marine Contracting to commence shoring and piling works at West Residence, the first residential tower within Serenia District, its AED 5 billion master-planned community located in Jumeirah more than 600,000 sq. ft. of land with a total built-up area of 3.5 million sq. ft., Serenia District will be delivered in phases and will comprise six distinct towers integrated around an immersive lifestyle offering. Residents will benefit from a dedicated lifestyle building, the Serenia Signature Clubhouse, an amenity-rich podium level, the Serenity Lake, and extensive landscaping that promotes wellness, leisure, and community by Nikken Sekkei, Japan's leading architectural firm and the third-largest globally, the community draws inspiration from the Japanese Ireko philosophy, blending serenity, simplicity, and the mindful use of his comments, Omar Derbas, Executive Director, Development & Engineering at Palma Development, said: 'We are pleased with the appointment of APCC Piling & Marine Contracting, whose proven expertise and professionalism we experienced firsthand during the initial construction phase of Serenia Living at Palm Jumeirah. Their proven track record with us gives us complete confidence in their continued ability to deliver exceptional results. This project is set to become a benchmark in urban living, offering a unique lifestyle experience complemented by world-class amenities. At Palma Development, we remain committed to delivering our projects on schedule while contributing to Dubai's dynamic real estate landscape.' Ideally located in Jumeirah Islands, Serenia District offers the perfect balance between urban living and seclusion, just minutes from JLT, DMCC, Uptown, and Dubai Marina. The community is interwoven with 20 kilometres of walkways, encouraging an active, outdoors-oriented lifestyle. Architectural elegance is further enhanced by a dynamic starlight façade, inspired by natural elements and designed to evolve beautifully from day into night.
Zawya
01-07-2025
- Business
- Zawya
Palma Development awards enabling works contract for Dubai residential tower
Dubai-based Palma Development has appointed APCC Piling & Marine Contracting to commence shoring and piling works at West Residence, the first residential tower within the 5 billion UAE dirhams ($1.36 billion) Serenia District, a master-planned community in Jumeirah Islands. No financial details or contract start and completion timelines were given. The 46-storey tower, housing 419 units, is part of a six-tower development with a total built-up area of 3.5 million square feet. The project has been designed by Japanese architectural firm Nikken Sekkei. In April, Executive Director Omar Derbas told Zawya Projects that the AED 3 billion Serenia Living on Palm Jumeirah's West Crescent is on track for full completion by the fourth quarter of 2025. Derbas stated that in a competitive market such as Dubai, where buyer expectations are high and competition is strong, timely handover reinforces credibility. (Writing by P Deol; Editing by Anoop Menon) (
Zawya
01-07-2025
- Business
- Zawya
Palma awards piling works contract for Jumeirah residential tower
UAE-based Palma Development has signed up APCC Piling & Marine Contracting for the shoring and piling works at West Residence, the first residential tower within Serenia District, its AED5-billion ($1.4 billion) master-planned community located in Jumeirah Islands. Spanning more than 600,000 sq ft of land with a total built-up area of 3.5 million sq. ft., Serenia District will be delivered in phases and will comprise six distinct towers integrated around an immersive lifestyle offering. Designed by Nikken Sekkei, Japan's leading architectural firm and the third-largest globally, the community draws inspiration from the Japanese Ireko philosophy, blending serenity, simplicity, and the mindful use of space, said the developer. Residents will benefit from a dedicated lifestyle building, the Serenia Signature Clubhouse, an amenity-rich podium level, the Serenity Lake, and extensive landscaping that promotes wellness, leisure, and community connection. On the contract award, Omar Derbas, the Executive Director, Development & Engineering at Palma Development, said: "We are pleased with the appointment of APCC Piling & Marine Contracting, whose proven expertise and professionalism we experienced firsthand during the initial construction phase of Serenia Living at Palm Jumeirah. Their proven track record with us gives us complete confidence in their continued ability to deliver exceptional results." Ideally located in Jumeirah Islands, Serenia District offers the perfect balance between urban living and seclusion, just minutes from JLT, DMCC, Uptown, and Dubai Marina. The community is interwoven with 20km of walkways, encouraging an active, outdoors-oriented lifestyle. Architectural elegance is further enhanced by a dynamic starlight façade, inspired by natural elements and designed to evolve beautifully from day into night, said Derbas. "This project is set to become a benchmark in urban living, offering a unique lifestyle experience complemented by world-class amenities. At Palma Development, we remain committed to delivering our projects on schedule while contributing to Dubai's dynamic real estate landscape," he added. Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Zawya
30-06-2025
- Business
- Zawya
Palma Development commences enabling works for West Residence at Serenia District in Jumeirah Islands
This milestone underscores Palma's strong execution and commitment to delivering its AED 5 billion waterfront community on schedule, following the successful launch of phase one. Dubai, United Arab Emirates – Palma Development, one of the pioneering developers in the UAE real estate industry, has announced the appointment of APCC Piling & Marine Contracting to commence shoring and piling works at West Residence, the first residential tower within Serenia District, its AED 5 billion master-planned community located in Jumeirah Islands. Spanning more than 600,000 sq. ft. of land with a total built-up area of 3.5 million sq. ft., Serenia District will be delivered in phases and will comprise six distinct towers integrated around an immersive lifestyle offering. Residents will benefit from a dedicated lifestyle building, the Serenia Signature Clubhouse, an amenity-rich podium level, the Serenity Lake, and extensive landscaping that promotes wellness, leisure, and community connection. Designed by Nikken Sekkei, Japan's leading architectural firm and the third-largest globally, the community draws inspiration from the Japanese Ireko philosophy, blending serenity, simplicity, and the mindful use of space. In his comments, Omar Derbas, Executive Director, Development & Engineering at Palma Development, said: 'We are pleased with the appointment of APCC Piling & Marine Contracting, whose proven expertise and professionalism we experienced firsthand during the initial construction phase of Serenia Living at Palm Jumeirah. Their proven track record with us gives us complete confidence in their continued ability to deliver exceptional results. This project is set to become a benchmark in urban living, offering a unique lifestyle experience complemented by world-class amenities. At Palma Development, we remain committed to delivering our projects on schedule while contributing to Dubai's dynamic real estate landscape.' Ideally located in Jumeirah Islands, Serenia District offers the perfect balance between urban living and seclusion, just minutes from JLT, DMCC, Uptown, and Dubai Marina. The community is interwoven with 20 kilometres of walkways, encouraging an active, outdoors-oriented lifestyle. Architectural elegance is further enhanced by a dynamic starlight façade, inspired by natural elements and designed to evolve beautifully from day into night. About Palma Development Established in 2002, Palma Development is a leading real estate developer in Dubai, renowned for creating premium waterfront communities that deliver long-term value. With a strong track record of on-time delivery and design excellence, Palma is committed to protecting investor wealth while contributing to Dubai's economic and urban development. Its portfolio includes iconic projects such as Cayan Infinity Tower, Silverene Towers, and Serenia Residences The Palm.
