The Palm Tower — Palm Jumeirah’s Defining Landmark

For now, The Palm Tower is the only skyscraper on Palm Jumeirah. But it won't hold that title for long: the striking Como Residences, featuring a series of cascading vertical pools, is set to join the skyline. Until then, The Palm Tower remains the island's defining landmark, rising above Nakheel Mall.

Take a closer look at the exterior and you'll notice how the tower gradually widens toward the upper floors. That's intentional: the architects designed it to evoke the shape of a palm tree. The island looks like a palm, the tower looks like a palm, and both names contain the word «Palm.» The architectural recursion is complete.

At the top of the tower is an observation deck. At ground level, there's a large shopping mall and the Palm Jumeirah Museum. The lower floors are home to The St. Regis hotel, complete with restaurants, bars, swimming pools, and a spa. Apartments occupy floors 19 through 47 and come with their own residents' club facilities, while residents also have access to the hotel's amenities and services.

Launch prices in 2016:

• Studios — from $450,000
• One-bedroom residences — from $850,000

The development contains 430 residences, ranging from 50 sq m studios to 100 sq m one-bedroom apartments. Over eight years, property values have risen by 60%, equivalent to roughly 7.5% per year.

Several of Oleg Torbosov's acquaintances live in the tower and shared their impressions. They're particularly impressed by the panoramic views, the convenience of having Nakheel Mall downstairs, and the long landscaped park where they can take their children for a walk. The main drawbacks are the lack of balconies and increasingly frequent traffic congestion on Palm Jumeirah.