User:Zimbabalooba/Kempinski Residences Palm Jumeirah

The Kempinski Residences, Palm Jumeirah are the first residences to open on the crescent of Palm Jumeirah in Dubai. The project was originally due to open in 2009, however has been delayed due to the economic down turn. The property originally began construction in 2006 and since then has rumoured to have sold at the highest prices in Dubai

The operating company of the Residences is Kempinski Hotels of Germany. It will be the 3rd property of Kempinski in the United Arab Emirates, however it will be the first property on the beach in Dubai.

The 202 properties sold to date included 190 residences sold at an average price of $2.3 million, with penthouse apartments selling for an average of $6 million and the royal villas reaching an average of $10 million

"The Residences have been one of the most successful projects in the UAE, with the some of the highest prices achieved for property on Palm Jumeirah"