From a strategic geographical location, a rich maritime history and diverse culture to an international financial hub known for its infrastructure, new business and employment opportunities, world’s famous tourist attractions, contemporary lifestyle facilities and premium real estate investment opportunities, Palm Flower brings all. After a smooth sail from the COVID-19 induced global pandemic, Dubai is set to thrive in the years to come; a strategy further strengthened by the mounting interest of foreign property buyers, increased amount of Foreign Direct Investment and rising numbers of luxury real estate projects.
In short, it is not just one of the world’s top and most exciting investment destinations but a place to be for all the right reasons. And what better way can be than investing in Dubai real estate? Moreover, Dubai property prices are expected to continue rising in 2023, so the best time to buy properties in Dubai is now. To cater to the growing interest of foreign investors in Dubai’s luxury properties sector, several developers have come forward with their ultra-high-end projects.
Palm Flower – An ultra-high-end development
One such luxury development is just announced by Alpago Properties named Palm Flower – on the world-famous Palm Jumeirah. Let’s review this development in the following post.
Project Plan
Palm Flower is an ultra-luxury residential project announced on Dubai’s most iconic waterfront development – Palm Jumeirah. The project will feature 10 high-end residential units spread over 11 floors, with each residence occupying an entire floor. One mega ultra-luxury penthouse is planned on two floors.
At the beginning of October, Dubai’s most expensive waterfront villa worth $82.2 million was sold. The signature villa is also developed by Alpago properties and it is located on Billionaires’ Row in Palm Jumeirah.
After the ground-breaking ceremony, Alpago Properties is expected to announce the proposed prices of properties in the coming weeks.
Location
Developed by Alpago Properties, Palm Flower is located on the West Beach of Palm Jumeirah.
Facilities & Amenities
Being located on Palm Jumeirah, Palm Flower has an edge over several other luxury developments in the emirate in terms of views, facilities and amenities. Each residential unit in Palm Flower will have floor-to-ceiling glass windows offering unobstructed views of the Arabian Gulf and the ever-changing Dubai skyline. Other premium facilities and amenities include a private cinema, a fully-equipped gymnasium, and a spacious private terrace that boasts a private sea-facing swimming pool on one side and a garden terrace on the other side, giving the best of both worlds to the residents.
The exquisitely designed lobby will link the extensive basement with a personalized parking area, which can be accessed through private elevators that open directly into the penthouses.
Architect & Design
Alpago Properties has collaborated with the British architect and designer Norman Foster’s company Foster & Partners to design the magnificent Palm Flower project. Foster & Partners, the design and architecture firm is known for its notable contribution to the design of Phase 3 of Battersea Power Station and structures such as The Gherkin in London, Apple Tower Theatre in Los Angeles, Alif – The Mobility Pavilion at Expo 2020 Dubai and the Hong Kong International Airport.
The demand for luxury properties in Dubai continues to grow
After the COVID-19 induced global pandemic, Dubai emerged victorious in terms of containing the virus and administering the vaccination jabs to the public. Resultantly, we have observed a high influx of foreign investors and high-net-worth individuals flocking to the emirate to enjoy a luxurious and safe lifestyle, and one of the best quality of life. Therefore, high demand for luxury and ultra-luxury properties for sale in Dubai was recorded right after the COVID-19 global pandemic, which is expected to grow in the years to come.
However, along with demand the prices of luxury and ultra-luxury properties in Dubai tend to continue rising across prime areas. On comparative grounds, if the prices for reasonable properties for sale in Dubai have increased by 10 per cent on average, the surge in the price of premium and ultra-premium properties was over 20 per cent.
According to CBRE, a real estate group, the prime realty market exhibited stellar performance in the second quarter of 2022 – with the value of transactions reached AED 21.5 billion, up by 28.7 per cent on a year-over-year basis, according to the data released by the Dubai Land Department. A few areas that are in the highest demand are Palm Jumeirah, Al Barsha, Downtown Dubai, Arabian Ranches and Dubai Hills Estate.
“Through to the end of 2025, just eight new villas are expected to be built in Dubai’s prime residential areas, hinting strongly at continued outperformance of villas at the very top of the market as there is nothing to suggest an easing of the luxury home drought any time soon,” stated Faisal Durrani, partner and head of Middle East research at Knight Frank.
About Alpago Properties
Alpago Properties is now headquartered in Dubai but the company started its journey in Istanbul and London and delivered some iconic and high-end residential, commercial and hospitality projects. The company is dedicated to building architectural marvels, offering distinguished lifestyles and experiences with every new project.
Register your interest today!
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If you are in search of luxury and ultra-luxury properties for sale in Dubai, you must contact the team HFRE at +971 4876 2473 or send us your query at info@hfre.ae. And we can help you shortlist the most premium investment options in the emirate. Moreover, our sales experts can also devise a bespoke investment plan for you to buy a dream property.
