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In 2006-2007 Dubai's economy was actively developing, driven largely by its real estate and construction industries. The government of Dubai had invested heavily in infrastructure projects, such as the Palm Jumeirah and the Burj Khalifa, the tallest building in the world. In addition, Dubai had become a hub for international business and tourism.
The Palm Islands consist of three artificial islands, Palm Jumeirah, Deira Island, and Palm Jebel Ali. They were commissioned by Sheikh Mohammed bin Rashid Al Maktoum as a way to increase Dubai's tourism. Each island was planned to have a large number of residential, leisure and entertainment centers and will add 520 km of beaches to the city.
The Palm Jumeirah is an archipelago of artificial islands on the Persian Gulf in Jumeirah, Dubai, United Arab Emirates. It is part of a larger series of developments called the Palm Islands , including Palm Jebel Ali and the Dubai Islands , which, when completed, will together increase Dubai's shoreline by a total of 520 kilometres (320 mi). [ 3 ]
Property prices in the Emirates had fallen 58% from their peak in the fourth quarter of 2008. [24] The world economic recovery from the Great Recession resulted in a rebound for the Dubai real estate market: it was reported that "residential prices [in Dubai] rose by 17.9% from August 2012 to 2013, while rents soared by 14.9% in the same period".
The Palm Islands consist of three artificial archipelagos: Palm Jumeirah, Dubai Islands (formerly known as Palm Deira or Deira Islands), and Palm Jebel Ali, [1] on the coast of Dubai, United Arab Emirates. The Palm Islands were constructed around the same time as The World Islands. Nakheel Properties is the Palm Islands real estate developer. [2]
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Real estate is a significant contributor to Dubai's economy, accounting for a substantial portion of the city's GDP. [1] Dubai's real estate market has experienced growth and transformation, driven by the city's rapid economic development, strategic location, and urban planning. Real estate is a driver of Dubai's economy. [1]
Royal Palm Way in Palm Beach has the third-highest average asking commercial-rental price among 55 major U.S. markets analyzed in a study released by JLL on April 11, 2024.
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