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Investor confidence has again been highlighted in Dubai with the sale of a plot on the Palm Jumeirah.
The plot was sold for DH400 million to a local investor indicating that the 305,704 sq ft plot was sold for DH1302 per sq ft.
In a statement a Nakheel spokesperson said: ?There are clear signs of renewed investor confidence in Dubai real estate and in particular for unique products such as those offered on Palm Jumeirah.
?We have seen a very healthy demand in the first half of 2012, and this looks set to continue for the year.?
Prices have climbed in some parts of the palm, some areas as much as 30 percent according to Nakheel who have sold more than 80 out of 105 plots to date. The statement notes that these sales equate to value in excess of DH657 million.
The spokesperson added: ?Land and properties on Palm Jumeirah are in big demand thanks to its unique design, location and ever-increasing range of amenities, including new hotels and resorts, public parks, our forthcoming Pointe recreation and retail development such as Palm Mall and more facilities to be announced soon.?