Kempinski Hotel & Residences
Palm Jumeirah are the first residences to open on the crescent of Palm Jumeirah in
Dubai
Dubai (, ; ar, دبي, translit=Dubayy, , ) is the most populous city in the United Arab Emirates (UAE) and the capital of the Emirate of Dubai, the most populated of the 7 emirates of the United Arab Emirates.The Government and Politics of ...
. The project was due to open in 2009, however has been delayed due to the economic down turn. The property began construction in 2006.
The operating company of the residences is
Kempinski Hotels
Kempinski Hotels S.A., commonly known as Kempinski, is a luxury hotel management company headquartered in Geneva, Switzerland. Founded in Berlin in 1897 as the ''Hotelbetriebs-Aktiengesellschaft'', the group currently operates 78 five-star ho ...
of Germany. It will be the third property of Kempinski in the
United Arab Emirates
The United Arab Emirates (UAE; ar, اَلْإِمَارَات الْعَرَبِيَة الْمُتَحِدَة ), or simply the Emirates ( ar, الِْإمَارَات ), is a country in Western Asia (The Middle East). It is located at th ...
. However, it will be the first property on the beach in
Dubai
Dubai (, ; ar, دبي, translit=Dubayy, , ) is the most populous city in the United Arab Emirates (UAE) and the capital of the Emirate of Dubai, the most populated of the 7 emirates of the United Arab Emirates.The Government and Politics of ...
.
''"The Residences have been one of the most successful projects in the UAE, with some of the highest prices achieved for property on Palm Jumeirah"''
In March 2010, it was claimed that Luxury Palm homes project saw 'zero defaults'
in their development, which was sold pre-crisis and continued development during the recession. More than 240 residential units were sold as part of the US$500 million (Dh1.83 billion) project at the peak of Dubai's property boom between 2007 and 2008, when a beach-front villa on Nakheel's Palm Jumeirah could fetch about Dh16m.
See also
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Nakheel
Nakheel Properties ( ar, نَـخٍـيْـل, nakhīl, palm tree) is a property developer based in Dubai, United Arab Emirates. The formal name of the company is Nakheel PJSC (private joint stock company) and it was a subsidiary of Dubai World a ...
*
List of development projects in Dubai
The government's decision to diversify from an oil-based economy, and to make Dubai the main hub of tourists in the world, has made and other developmental projects such as Dubailand, more valuable, resulting in the property boom from 2004 to 200 ...
Notes
References
Official WebsiteProperty DeveloperPalm Jumeirah's website by Nakheel
{{Developments in Dubai
Communities in Dubai
Kempinski Hotels