Balqis Residence, part of the Kingdom of Sheba resort, is on the west crescent of the man-made island, with phase one of the development launched six years ago. The project now has four villas, one penthouse, three apartments and 12 suites in the market for sale. These will be handed over to the buyers in 14 to 18 months, according to the developer IFA Hotels and Resorts.
Beachfront living at this project comes at a price with one five-bedroom villa on sale for Dh32 million. For that rate you receive 9,026 square feet of luxury villa split across four floors with a pool overlooking the waters. Naturally, to make it easy to access those floors, there is a private lift.
The ground floor features a sitting and separate dining room with direct views over the pool to the sea as well as a fitted kitchen and en suite fifth guest bedroom. On the first floor, there are a further four bedrooms including the master suite with a dressing area and on the second floor, there is a second sitting room and a shower room, which could be converted into a sixth bedroom. The lower ground floor holds the triple garage alongside a large play area/cinema.
While the Dh32m price tag is on the high side, Palm Jumeirah is one of the most expensive neighbourhoods in town with rates anywhere between Dh2,200 and Dh4,000 per sq ft, according to the property brokers Asteco. At Sobha Group’s Hartland project near Business Bay, villas start at Dh2,006 per sq ft, while at Emirates Hills villas it’s Dh1,700 per sq ft.
The five-bedroom villas offered by the Balqis project range from Dh25m and Dh32m, while the three-bedroom penthouse is on offer for Dh11.5m. The three-bedroom apartments start at Dh4.9m, and the suites range from a studio to a three-bedroom has a starting price of Dh1.75m.
The suites will be part of a rental management programme for short-term letting.
Palm Jumeirah Dubai - Apartment or Villa for Sale and Rent