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FinancialNews


  • 04-07-13

    Property prices escalate on Palm Jumeirah

    (MENAFN) Estates prices have escalated on Palm Jumeirah Dubai since March, hitting 11% increase according to new figures unveiled by recently published statistics, Arabian business reported. Figures showed a swift rise in property prices on the Palm reaching value of USD 1 million for a three bed room apartment and approximately USD 5.5 million for five bed room villas while one-bed and two bed apartments stood at a rise percentage ranged between and 4 and 8%. On the other hand, rentals for small apartments held steady rising slightly for three- and five-bedroom properties. Dubizzle spokesperson Ann Boothello said the price increases were foreseeable since investor confidence soared by the announcements of new invstments. "Established communities like JBR & Dubai Marina attracted attention from investors with the announcement of the Bluewaters Island by Meraas Holding in February ... driving values up for properties in nearby communities," Boothello said.

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