Dubai’s Nakheel has unveiled a new master development next to Palm Jebel Ali as property developers continue to launch housing projects despite Iran war-driven uncertainty.
Palm Springs, a 3.8 million-square-metre residential masterplan, will have a mix of villas, townhouses and apartments, Nakheel said on Tuesday. It will also have education, health care, sport and leisure facilities across 15 neighbourhoods in southern Dubai, with two schools, a hospital and six mosques.
Leisure facilities include a dedicated Country Club and Sports Club, alongside recreational, fitness and sports facilities.
Nakheel, part of Dubai Holding Real Estate, did not reveal the total value of the development or its time frame.
The new development is being planned for about 50,000 residents.
“Palm Springs reflects our long-term confidence in southern Dubai and its role in the city’s future,” said Khalid Al Malik, chief executive of Dubai Holding Real Estate. “With Palm Jebel Ali nearby, our focus is on creating a community that brings homes and supporting infrastructure together from the outset.”
The masterplan also includes about 593,000 sq m of open space, including a central park and landscaped areas, Nakheel said. More than 35 kilometres of cycling, running and walking routes are planned to link the neighbourhoods with parks, retail and leisure destinations.
Property developers are continuing to launch projects in Dubai despite concerns about the slowing of the market as the Iran war continues.
Abu Dhabi’s Aldar said last month it plans to launch a major development of villas and townhouses in Dubai by the end of this year as part of the company’s expansion across the UAE.
Work is also progressing on Nakheel's other flagship development, Palm Jebel Ali, after the developer awarded contracts in April worth more than Dh3.5 billion ($950 million) for the construction of 544 villas.
Ginco General Contracting is set to build 354 villas across Fronds A to D, while United Engineering Construction will construct 190 on Fronds E and F.
Nakheel has also started handing over 892 villas and townhouses at the redeveloped Jebel Ali Village near Ibn Battuta Mall, more than four years after the community’s original 290 homes were demolished.
