The construction cost on Palm Jumeirah Island is worth $12 billion, excluding dwellings and resorts. Palm Jumeirah is also home to a $1.5 billion resort Atlantis Hotel which boasts a waterpark, underwater aquarium and more.
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Palm Jumeirah is government property and its developer is state-owned Nakheel Properties.
Mukesh Ambani bought the Palm Jumeirah mansion last week for about $163 million from the family of Kuwaiti tycoon Mohammed Alshaya, said the people, asking not to be named as they're not authorized to speak publicly.
There are three islands in total that make up Dubai Palm Islands - Palm Jumeirah, Palm Jebel Ali and Palm Deira, however the only island open to visitors is Palm Jumeirah.
All in all, the UAE is an attractive destination for millionaires due to its strong economy, tax benefits, world-class infrastructure, security, and cultural diversity. The country offers a luxurious lifestyle, a stable political environment, and a welcoming atmosphere for people from all over the world.