A residential lifestyle in Dubai that dreams and Dh18m are made of

Waterfront living on Palm Jumeirah with views of the Dubai Marina skyline and the Burj Al Arab are always a draw for property investors in Dubai.

That is why the Dream Palm Residence has all the classic selling points with a price to match. To afford an unfurnished, five-bedroom townhouse here, you will need to shell out Dh18.71 million.

The 8,506 square feet luxury pad comes with five and a half bathrooms, four car park spaces, and is ready for a buyer to move in.

The townhouse is among a handful of apartments and townhouses in the development that have recently come into the market ranging between 7,039 and 11,597 square feet in size. All the residences have direct access to the beach, a swimming pool, gym and children’s pool.

The apartments have between two and five bedrooms and the townhouses four and five bedrooms.

The development has 112 units in all, including eight townhouses and eight penthouses. The rest are two- and three-bedroom apartments.

The units first came onto the market about two and half years ago but were not sold, according to the realtor Hamptons International.

“All come with stunning views from the floor to ceiling panoramic windows and the large balconies or terraces,” says a Hamptons spokeswoman. “Enjoy waking up to views of either the Dubai Marina skyline, Burj Al Arab, Burj Khalifa, Atlantis Hotel and The Palm Jumeirah.”

Residents can also take advantage of exclusive offers at the neighbouring Rixos The Palm resort with a 20 per cent discount at its nine food and beverage outlets and at the spa, as well as beach and pool access. The Roads and Transport Authority water taxi that leaves from near Waldorf Astoria Hotel links the Palm with Dubai Marina.

The Atlantis Hotel with its Aquaventure Waterpark and the Palm Monorail is also a few minutes’ drive away.

The apartments are fitted with Miele kitchen appliances, marble in the bathrooms, wood flooring and smart auto-lighting. The units can also come furnished.

Q&A

How expensive are the other town houses at the Dream Palm Residence?

The town house sizes range from 7,000 to 11,500 square feet. Prices range from Dh15.5 million to Dh21m. Dh21m will buy you a 11,000 sq ft five-bedroom furnished town house.

The units have never been lived in before, yet they came to the market two-and-a-half years ago. Why didn’t they sell?

“The Dream Palm Residence is a luxurious project, catering to a particular type of buyer,” according to a spokeswoman from Hamptons International, a wholly owned subsidiary of Emaar Properties. “Most of the penthouses were sold and here we are referring to the available units on sale.”

What are the security arrangements in the complex?

There is 24-hour security with guards as well as security cameras.

How much are other units in the complex?

A 2,343 sq ft two-bedroom apartment costs around Dh5.15m whereas a 2,756 sq ft three bedroom apartment costs Dh6.06m. A four-bedroom penthouse of around 5,678 sq ft costs Dh12.49m.

What is the forecast for home sale prices in Dubai?

An Emirates NBD and Markit report released on July 9 said that among 70 real estate agents, about 52 per cent expect a fall in property values, and 30 per cent foresee an increase during the next year. During the second quarter, about half of the polled property agents reported a drop in the average sale prices.

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