Alef Residences Palm Jumeirah Dubai

Alef Residences Palm Jumeirah Dubai

Alef Residences Palm Jumeirah Dubai

Alef Residences on Dubai’s Palm Jumeirah (see bottom of article) is a 104 unit Dh2 billion upmarket hotel and serviced apartment development being promoted by a Saudi-Qatari joint venture.

It is estimated by the developers that the Alef Residences will take up 505,000 sq. ft. of a 1 million sq. ft. plot on Palm Jumeirah’s ‘West Crescent’, with the remainder of the project housing the new ‘W Hotel’ owned by the same joint venture. It will sit in the plot next to the Kempinski Hotel & Residences.

The Alef Residences on Palm Jumeirah, Dubai will contain eight clusters in two buildings. It is planned that each cluster will have just two large luxury apartments per floor, and there are to be five penthouse apartments housed at the top of the buildings.

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Luxury apartments at Alef Residences will range in size from 4,800 sq. ft. to 15,000 sq. ft., and are, at time of writing, to be priced from Dh12 million right up to to Dh50m (approx. £2.15m to £9m at time of writing). As you would expect with an ultra-high end residence in Dubai, residents will have access to luxuries such as a private members’ club with a food & beverage unit, lounges, a high-end gym, spa treatment rooms and an in-house cinema.

This development has been a long time in the gestation. Al Sharq Investment first announced it was to build a ‘W Hotel’ at Palm Jumeirah way back in 2006, almost a decade ago, but plans for this particular version of the project started back in 2011.

The project is fully funded and now under construction, with both the ‘W Hotel’ and the ‘Alef Residences’ are due to complete by the end of the second quarter of 2017.

It is considered a brave move by many commentators. Demand for apartments at the luxury end of the Dubai market has been declining. In 2015 alone prices on Dubai’s Palm Jumeirah dropped by 13 per cent year-on-year.

The developers argue that Alef Residences will not be governed by the same dynamics as the rest of the market as it “is filling a niche that doesn’t currently exist in Dubai”. The spokesman continued; “If we look at supply and demand, there is no supply of this style of high-end luxury living in an integrated lifestyle development like the Alef and The W. But the demand is absolutely there.”

What is Palm Jumeirah?Palm Jumeirah Dubai, Aerial View

The Palm Jumeirah is an artificial archipelago connected to the coast of Dubai in the United Arab Emirates. The development was created using land reclamation techniques by Nakheel, a building company owned by the Dubai government. The Palm Jumeirah is one of three planned islands called the Palm Islands (Palm Jumeirah, Palm Jebel Ali and Palm Deira) which extend into the Persian Gulf, increasing Dubai’s shoreline by a total of 520 kilometres (320 mi). The Palm Jumeirah is the smallest of the three, and the original of the Palm Islands. It is located on the Jumeirah coastal area and contains a range of apartments, villas and hotels.

Hotels you will find on Palm Jumeirah prior to the opening of the ‘W Hotel’ include the Kempinski Hotel & Residences; Rixos The Palm Dubai; Atlantis, The Palm; Sofitel the Palm Dubai; Royal Club, Dubai; Oceana, The Palm Jumeirah; Jumeirah Zabeel Saray; Oceana Residence, Palm Jumeirah; Tiara Residence; One & Only The Palm; Palm Jumeirah Residences; Beach; Apartments, Palm Jumeirah; The Residences, Palm Jumeirah; Waldorf Astoria, Palm Jumeriah; Kingdom Of Sheba, Palm Jumeirah; Th8 Hotel Resort & Residence, Palm Jumeirah.

Alef Residences Palm Jumeirah Dubai

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