First Residents Move Into the Palm Jumeirah in Dubai
The first residents of the Palm Jumeirah, the massive palm-shaped island off the coast of Dubai, have moved in and as the AP reports
they seem quite content so far. The AP profiles Andrew Dukes who was
the first to move into his island mansion. Dukes, formerly an executive
with a London-based Internet company, paid around $1.36 million for his
house over a year ago and it is now worth nearly double. The new land
which was made from sand dredged up from the sea and rock from nearby
mountains, will also be home to hotels, including one by Donald Trump,
a monorail, and a water theme park. Buyers of the development include
citizens of the United Arab Emirates and neighboring countries and
speculators and residents from around the world. Part of the Palm
Jumeirah also serves as a labor camp for the thousands of construction
workers working on the project. The other projects by Nakheel including
the ambitious “World” project are still under development.
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