1st March 2014

 

The Jumeirah Park land auction held at Nakheel's sales centre on Weds 26th February 2014 proved to be an overwhelming success according to reports from the Jumeirah Park developer. A total of 8 prime Jumeirah Park plots were sold for around AED 4.3 million each which netted Nakheel just over AED 34 million. More than 50 investors attended the auction with each one paying AED 1000 to register for the opportunity. We expected this auction to sell out and all eight of the 8820 sq ft plots were sold for almost AED 500 per sq ft each.

 

Due to the success of this event, Nakheel have announced that another Jumeirah Park plot auction will take place on Tuesday 4th March 2014 at their sales centre. This time the plots will be in the range of 7750 to 8700 sq ft in size. Again, we expect there to be strong demand for these plots in Jumeirah Park as both investors and future end-users will be keen to acquire this prime location land.

 

Nakheel first held Jumeirah Park auctions in June 2013, when they sold 3 Bed Legacy Large plots and villas to the general public.

 

A typical Jumeirah Park 4 Bed villas in Package 2 and 2A are currently selling in the range of AED 6.5 - 6.9m, with the exception of those backing onto the high tension wires which sell for slightly below average price. The prime location A Sector 4 Bedroom villas facing the Jumeirah Islands lakes and JLT skyline command the highest prices with some selling for figures around AED 8m. These plots could prove to be decent investments if they are built to the same standard or better than the current 4 Bed villas in Jumeirah Park and the Dubai market continues to remain strong.

 

Property Boutique work with buyers and sellers to conclude transactions in Jumeirah Park on a frequent basis. Please call our Jumeirah Park specialist for help with your requirements. We have a number of Jumeirah Park 3 Bed and 4 Bed villas available for sale.