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Palm Jumeirah closes several major deals

DUBAI - Sales of luxury properties on the exclusive Palm-Jumeirah, Dubai have taken off in India where developer, IFA Hotels & Resorts, is exhibiting in the UAE In India Exhibition.

Within hours of the show opening in Mumbai, IFA Hotels & Resorts, a subsidiary of International Financial Advisors Kuwait, concluded a number of sales, including that of a three-bedroomed waterfront apartment on Palm-Jumeirah.

It also received dozens of enquiries for other properties.

"The apartment has been bought by an international businessman now resident in the USA," said Omar Al Rashid, sales manager Kuwait, International Financial Advisors Hotels & Resorts.

"Demand is coming particularly from within the Non Resident Indian community. To ensure that the market demand is met, we will shortly be appointing agents within India to represent us there."

IFA Hotels & Resorts is behind a luxury US$500 million Dubai Palm-Jumeirah residential and resort development in which its first Palm Residence tower, Al Nabat, is 98 per cent sold.

Prices for Palm Residence apartments range from US$250,000 to US$1.5 million for penthouses.

"We are now launching Al Hasser, the second Palm Residence apartment block and expect sales to be equally as brisk," said Al Rashid.

The Palm Residence will have stunning marina and ocean views, iconic architecture, luxurious interior design and its own private beach club.