A new Dhs1 billion residence to launch on Dubai's Palm Jumeirah

A new Dhs1 billion residence to launch on Dubai's Palm Jumeirah

Inspired by the glamorous Miami lifestyle

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A new development on the Palm Jumeirah inspired by the jet-set lifestyle of Miami Beach is aiming to bring the American city's beach atmosphere to Dubai

Kuwait's IFA Hotels & Resorts recently announced the launch of a Dhs1 billion mixed-use development on Dubai's famous man-made peninsula.

The IFA will add 300 units to the Palm Jumeirah's west crescent, the new project known as 'The 8', will consist of apartments, townhouses and hotel penthouses across its eight storeys. Prices for a two-bedroom living space start from Dhs3 million; some units will even be furnished with luxurious Kenzo Maison furniture.

IFA chairman and CEO Talal Al Bahar said: "The Palm Jumeirah continues to be a market leader in property value retention and rental yield."

The residential resort will have water sport rental facilities, a gym, tennis courts, a beachfront restaurant, a large family pool and a children's area.

"When owners walk into The 8, we want it to feel as much like a modern art gallery as it does an apartment," said Khaled Esbaitah, chief executive of IFA Hotels and Resorts, further adding, "We are building a destination."

The project is planned for completion in 2016 with pre-launch registration already starting in Dubai and Kuwait.

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