Dubai e id u g ’s or t es v in y t er p ro p A
Dubai - A property investor’s guide
A detailed guide to Dubai’s investment hot spots, including: • the areas to invest, and their pros and cons • expected returns on investments • commercial and residential property options • average rent and sale prices • useful tips and advice for the first-time investor
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Dubai - A property investor’s guide
Buy, sell and invest At Carlton Real Estate we aim to create and deliver real value. In a complex market that is constantly changing we have extensive experience in buying, selling, leasing and investing in commercial and residential properties, within both small and large developments. We currently have a portfolio of over 18,000 properties with average occupancy rates of 95% and over 180 exclusive buildings across Dubai. Additionally, our agents and management have experience in property markets across the Middle East, UAE, UK, India and the US, and each are specialized in specific areas to ensure you get the best possible service and advice. So, if you’re looking to buy, sell or invest in property, contact Carlton Real Estate
The largest exclusive portfolio of properties in Dubai 2 us on: +971 (0)4 3799904 • Email us at: info@carltonrealestate.ae • Visit us at: www.carltonrealestate.ae Call
Dubai - A property investor’s guide
An introduction to investing in Dubai Questions and answers with Carlton
are over 95% occupied (stats from
many factors as well as demand, the
Real Estate’s Managing Director,
Reidin) for the past few years and
amenities, views and accessibility of
Laura Adams.
the simple fact is that there are not
the areas.
What are the hot areas in Dubai that
enough properties handing over to
What types of investors would go for
foreigners are investing in for both
accommodate the rise in population.
short & long term with a view of
For Example: The population in Dubai
would they need?
buying to lease?
grew by 100,472 people from 2011
For a one bedroom in Downtown
The most popular areas are the
to 2012 but there was only 11,061
established completed districts such as Dubai Marina, The Palm and
properties handed over in the same period (stats from Government of
Downtown as investors can be assured
Dubai, Statistics Centre).
of no void periods in rents as they
Population since the beginning of 2013
are all in high demand constantly by
to date has risen by an additional
tenants, figures show these areas have
80,000 new residents which is not in
averaged a 6.5% return on investment
line with the number of properties
for the past 2 years, compared with
available.
London which average is between
With the above in mind I would always
2-3%. Short term leasing is actually illegal in Dubai outside of hotel apartments or hotels so investors do not have that choice, although some still do.
advise any investor to stay clear of any off plan developments that are not being built by any of the major developers, Emaar or Nakheel for example, that are not within 6 months
What areas represent high risk and
from completion as many experience
low risk investments?
delays which in turn will delay any
Dubai is pretty much a low risk
return you will get.
investment as the market is led by
Highlight the main reasons they are
supply and demand and we are
drawn to these areas?
fortunate enough to have a high
Mainly the appeal of appreciation
demand for properties. Buildings in the majority of Dubai
these areas? What kind of budget
in the Lofts with Burj Khalifa and Fountain Views, 800 sq ft you can buy for 1,600,000AED and it will lease for 100,000AED per year. In JBR, Jumeirah Beach Residence for a one bedroom with marina view, 1200 sq ft you can buy for 1,450,000AED and lease for 95,000AED per year. For a one bedroom on the Palm Jumeirah you can buy a one bedroom on the beach in the Shoreline apartments, 1180 sq ft, for 2,000,000AED and it will lease for 130,000AED per year with full sea views and private beach access. Service charges on all of the above average across the board at around 18-20AED per sq ft which includes all building maintenance, security, pool/ gym maintenance, cleaning etc.
and rent return percentages of the property prices which is due to
3
Dubai - A property investor’s guide
What kind of financing is available
350AED for Title Deed 1st year only
becoming increasingly popular due to
for investors?
charge
economic difficulties elsewhere in the
99% of banks are only financing residents at the moment since the downtown in 2008 but most investors will try and get finance from their home countries if they are not resident in Dubai. Most of the transactions in Dubai in the past couple of years have been cash. What kind of return on investment can they expect now after paying registration costs and other initial fees? How will their ROI evolve over time? Please provide specific examples for each area, per square ft if possible? If you were to buy for investment purposes your costs will be as follows: For a 1 bedroom in Dubai Marina, 1,200,000AED – 800 sq ft Bay Central the Investor will need to pay: • Agency fees, 2% of the purchase price – 24,000AED – 1st year only charge • Dubai Land Department transfer fee 1% (the charge is 2% but this is shared with the Seller) 12,000AED – 1st year only charge • Admin fee Lands Department – 4
• NOC from Developer – up to – 5000AED dependent on developer • The service charge for the year up front, with this example this will be 18AED psf, 14,400AED A one bedroom in the above leases for 85,000AED per year. So the 1st year the Investor will have Potential Costs – (taking into account they pay 5000AED for NOC) 55,750AED – rent received – 85,000AED = 29,250AED = net ROI – 2.4% for the 1st year The 2nd year they should be looking to receive a net ROI of 5.8%. The 3rd year they can raise the rent amount as per RERA law in Dubai, this will enable them to get a larger return.
world? This has definitely become apparent especially looking at how other markets have struggled to recover throughout the world since the downturn of 2008. Dubai was quick to recover as most of the money is not from banks or from the West. We have allot of investment from other parts of the middle east, Arabs being the number 1 investors in the Emirate followed by Indians. What are the risks and pitfalls to be aware of when investing in these areas? How can you mitigate these? The trick is do not expect too much and do not get greedy, the time in Dubai when you can transfer paper
Appreciation for a unit like this in
and get large percentage returns are
the current market will see a rise of
way gone and will never return as the
anything between 15%-25% over 2-3
Investors that benefited from those
years.
times also lost, heavily – Investing in
Please note that the Landlord does
Dubai gives you a much better return
not pay the agency fees for the leasing
than your money sitting in any bank
of the property in Dubai unless they
and in the sustainable areas, if you
chose to get the property managed.
invest wisely, you will rarely lose any
Globally, investors are looking
percentage of what you have put in.
for strong yields. Would you say
For more information contact
emerging markets such as Dubai are
laura@carltonrealestate.ae
Dubai - A property investor’s guide
Downtown Burj Dubai Downtown Dubai is one of Dubai’s
easily accessible. Community cafes,
To lease (prices in AED per year,
newest addresses and can also
pools, gyms and salons are also
October 2013):
stake a claim for one of the city’s
situated within the Residences.
most glamorous areas. High rise
• Studio 60,000
The area is located between Al Khail
• 1 Bedroom 85,000
Road and Sheikh Zayed Road so
• 2 Bedroom 120,000
reaching other parts of the city is
• 3 Bedroom 185,000
simple.
• 4 Bedroom 380,000
Who lives there?
To Sell (prices in AED per year,
residents to leave the confines of
Working professionals
October 2013):
their luxury pads.
Most expensive buildings:
• Studio 850,000
This is the home of the iconic Burj
Burj Khalifa, The Residences, Old
Khalifa, vast Dubai Mall, Emaar
Town, The Address Lake Hotel
apartments, many with views of the Burj Khalifa and dancing fountains, are surrounded by children’s playareas, attractive walkways and coffee shops aimed at encouraging
Square and the Address hotel. Shopping, dining and entertainment options are therefore plentiful and
More affordable buildings:
• 1 Bedroom 1,600,000 • 2 Bedroom 2,100,000 • 3 Bedroom 3,500,000 • 4 Bedroom 6,000,000
The Lofts, 8 Bvld, Burj Views, Burj Al Nujoom 5
Dubai - A property investor’s guide
A selection of properties for sale in Downtown Burj Dubai from Carlton Real Estate.
Property
Unit Type
Model
View
Builtup Area
Selling Price
Beds
Burj Khalifa
Apartment
Two Bedroom Plus Maids
Sea
2056.00
6,168,000
2
29 Boulevard
Apartment
Unfurnished
Fountain
1181.00
3,200,000
2
Zaafaran 2
Apartment
Furnished
Pool
921.00
1,650,000
1
Boulevard Central 1
Apartment
Unfurnished
Neighborhood
871.00
1,900,000
1
Burj Khalifa
Apartment
Unfurnished, Type B, plus maid’s
DIFC Gate
2323.00
7,500,000
3
29 Boulevard
Apartment
Unfurnished, Podium level
Community
413.00
1,200,000
Studio
Standpoint Towers 1
Apartment
Unfurnished
Boulevard
1233.00
2,550,000
2
Zaafaran 4
Apartment
Fitted kitchen
Burj Khalifa
896.00
2,000,000
1
29 Boulevard
Apartment
Unfurnished
Burj Khalifa
834.00
2,100,000
1
Yansoon 7
Apartment
Fully Furnished
Community
733.00
1,500,000
1
Lofts East
Apartment
Unfurnished
Sea
1282.00
2,900,000
2
Burj Khalifa
Apartment
Unfurnished
Burj Al Arab
1133.00
3,682,000
1
Burj Dubai The Residences
Apartment
Fully Furnished
Burj Khalifa
2949.00
12,338,000
3
The Residences 9
Apartment
Lake Partial View
1600.00
3,650,000
2
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Dubai - A property investor’s guide
The Palm Jumeirah Dubai’s best known offshore
There are no schools on the Palm itself
More affordable buildings:
development offers apartments
but in nearby Al Soufah there’s the
and villas in one of the most highly
Wellington International School and
Golden Mile Apartments, Canal Cove
publicized locations on the planet.
the International School of Choueifat.
Despite the drop in rents across the
Pros:
city, properties on the Palm are still
Palm Jumeirah has to be one of
relatively expensive and those at the upper end of the scale remain out of reach of all but the city’s most affluent residents. Formed of villas and apartments, dubbed the 8th Wonder of the world. Nearby: All that Jumeirah has to offer – boutiques, supermarkets, malls, parks and luxury hotels are a short drive away and of course, residents are surrounded by beaches. Marina Mall,
Dubai’s most exclusive addresses. Many homes have private beach access and there’s a good chance that your view will be pretty impressive.
villas, Marina Residence To lease (prices in AED per year, October 2013): • One Bedrooms 105,000 • Two Bedrooms 135,000 • Three Bedrooms 170,000 • Penthouses 270,000 • Garden Home Villas 420,000
Cons:
• Signature 640,000
Living on the Palm Jumeirah doesn’t
To Sell (prices in AED per year,
come cheap and apart from the
October 2013):
grocery stores, gyms and playgrounds
• One Bedrooms 1,300,000
(and beaches, of course!) belonging to each residential cluster there is very little within walking distance.
• Two Bedrooms 1,800,000 • Three Bedrooms 2,500,000 • Penthouses 4,400,000
Most expensive buildings:
• Garden Home Villas 9,500,000
are all easily accessible and the
Signature villas, high numbered villas,
• Signature 15,000,000
spectacular Atlantis Hotel at the end
Tiara Residence, Oceana
Ibn Battuta and Mall of the Emirates
of the Palm has some high-end dining options. 7
Dubai - A property investor’s guide
A selection of properties currently for Sale on the Palm Jumeirah with Carlton Real Estate.
Property
Unit Type
Model
View
Builtup Area
Selling Price
Beds
Al Sultana (B5)
Apartment
Fully Furnished, Type B
Sea
1170.00
1,999,999
1
Al Hamri (B4)
Apartment
Left side
Sea
1184.00
1,500,000
1
Signature Villa
Villa
Grand Rotunda
Sea
7000.00
20,000,000
5
Marina Residence 4
Apartment
plus maid’s
Palm Island
1981.00
2,900,000
3
Marina Residence 6
Apartment
Unfurnished
Sea
1980.00
2,900,000
2
Marina Residence 5
Apartment
+ maid’s
Marina
1800.00
3,100,000
2
Marina Residence 3
Apartment
Unfurnished
Atlantis
1800.00
2,900,000
2
Fairmont Residence South
Villa
Unfurnished
Pool
5006.00
8,900,000
3
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Dubai - A property investor’s guide
Mirdif
accommodation compared to some of
Pros:
Dubai’s more central addresses.
Peaceful streets provide safe areas
Mirdif is a popular choice for families
Cons:
for children to play and much that the
Mirdif is situated under Dubai
area has to offer is accessible on foot,
looking for affordable villas. The location on the outer edge of the
Airport’s flight path so aircraft noise
city – beyond the airport - means a bit
can be an issue.
of a commute into town but also that accommodation is cheaper than some more central areas.
Villas in Midiff can be brought only by GCC’s.
and more importantly, situated on roads that you’ll actually enjoy walking down. Cons: Despite dropping rents, the area is
Jumeirah
still relatively expensive. Many of the
shopping mall and there’s also Uptown
Once the only, and traditionally
bit more character, but they can have
Mirdif – an outdoor precinct which is
the most desirable and prestigious,
maintenance issues.
home to a Spinneys, hairdressers and
residential area in Dubai.
Villas in Jumeirah can be brought only
various other useful outlets. Small
Jumeirah is the home of the legendary
by GCC’s .
Nearby: Mirdif City Centre is the area’s main
shopping areas with grocery stores and the odd café can also be found throughout the area. Fans of the great outdoors will love the nearby Mushrif Park with its swimming pools, playgrounds and wide-open spaces. Festival City with its array of shopping and dining options is a short drive away. The area is popular with families so it’s well-served by schools. Options include Royal Dubai School, American Academy for Girls and Star International Academy.
‘Jumeirah Jane’ – an (increasingly rare) breed of expat corporate housewife. The area remains popular with families on the hunt for villas in quiet residential streets and possibly, if they are lucky, an established garden. Nearby: Unlike many of Dubai’s neighbourhoods, Jumeirah has a good stock of independent fashion and art boutiques housed in small, almost quaint shopping centres. Two Spinneys & two Choithrams serve
villas are older, which gives them a
Emirates Living: The Springs, The Meadows & The Lakes A development that incorporates the gated villa communities of The Springs, The Lakes and Meadows with apartments available in The Greens.
the area. Social life revolves around
Popular with families, this is a massive
Pros:
the beach, the cute local cafes and
sprawling landscaped development
A peaceful, suburban respite from
the Souk Madinat & luxury Jumeirah
with good facilities, green open spaces,
Beach hotels for licensed options.
children’s play areas, swimming pools
the hectic city with good value
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Dubai - A property investor’s guide
and attractive tree-lined streets.
include The Dubai British School,
on the ground and those who love a
Nearby:
Emirates International School and
bit of individuality may feel somewhat
Dubai American Academy.
subdued by the identikit nature of the
community centre with supermarkets,
Pros:
homes and streets.
a gym, ATMs, beauty salons, laundry
A slice of landscaped suburbia – the
Most expensive buildings:
services and a few basic dining
gated communities provide a peaceful
The Meadows
options. There are also shared pools
escape from the busy, dusty city.
and recreation areas dotted around
Children can play safely in the quiet
Most affordable buildings:
each area. The communities are
streets and parks and the general
situated between Al Khail Road and
quality of the accommodation is good.
Sheikh Zayed Road and are a short
Cons:
Each development has its own
drive from Mall of the Emirates. Schools in the area are popular and the waiting lists can be long. Options
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Dining and entertainment options with the communities themselves are thin
The Springs Prices vary between developments contact info@carltonrealestate.ae if you wish for your property to be valued or you want to buy in this district
Dubai - A property investor’s guide
Dubai Marina Dubai Marina is the heart of ‘New
beachside pedestrian strip full of
Roads leading to the Walk can be a
Dubai’ and the area of choice for
independent shops, market stalls and
nightmare at weekends.
singletons, couples and those who
eateries.
enjoy the high-life - literally.
Most expensive buildings:
There are no schools inside the Marina
This is a vibrant community populated
apart from a few nurseries but the
The original 6 buildings, The Address
with modern, high-rise apartment
Wellington International School and
blocks and the Marina itself is a glitzy
the International School of Chouefait
man-made lagoon dotted with shops,
are a short distance away by car or
DEC Tower, Marina Diamonds, Dreams
restaurants and cafes. Jumeirah
school bus.
To lease (prices in AED per year,
Beach Residence (known locally by
Pros:
October 2013):
Residents love the lively beach-side
• Studios 60,000
lifestyle and the wide choice of leisure
• One Bedrooms 75,000
and entertainment options. Easy
• Two Bedrooms 90,000
Boutiques, restaurants, cafes, the
access to Sheikh Zayed Road makes it
• Three Bedrooms 130,000
beach, Dubai Marina Mall – home
simple to get to other parts of the city
• Penthouses 250,000
to a Waitrose – small hidden parks
and the area is a great choice for those
To Sell (prices in AED per year,
and the stylish Yacht Club – the area
working in nearby Media City and
October 2013):
is now well-established and has
Internet City.
practically everything the young,
Cons:
• One Bedrooms 700,000
Apartment quality varies greatly from
• Two Bedrooms 1,100,000
tower to tower so do your research
• Three Bedrooms 1,350,000
before committing to a property.
• Penthouses 3,000,000
its acronym JBR) – is located on the beach-side of the Marina. Nearby:
affluent population need right on their doorsteps. One of the biggest attractions (aside from the beach, of course) is the ‘The Walk’ a lively
Marina, La Rivera More affordable buildings:
• Studios 550,000
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Dubai - A property investor’s guide
Properties currently for sale in Dubai Marina with Carlton Real Estate.
Property
Unit Type
Model
View
Builtup Area
Selling Price
Beds
Horizon Tower
Apartment
Fully Furnished, maid’s
Garden
2400.00
2,400,000
4
Marina Terrace
Apartment
Fully Furnished
Marina Full View
1710.00
2,550,000
3
Quay East
Apartment
Unfurnished
Community
2672.00
3,600,000
3
Sanibel
Apartment
Fully Furnished
Marina Full View
1000.00
1,950,000
1
Quay West
Apartment
Unfurnished
Marina Full View
1867.00
3,000,000
2
Beauport
Apartment
Sea Partial View
958.00
1,900,000
1
Aurora
Apartment
Unfurnished
Marina Full View
1404.00
2,900,000
2
Marina Crown
Apartment
plus study
Sea Partial View
1500.00
1,950,000
2
Damac Waves
Apartment
plus maid’s
Marina Full View
4500.00
4,300,000
3
Bay Central West
Apartment
Fully Furnished
Sea Partial View
771.00
1,500,000
1
Yacht Bay
Apartment
Unfurnished
Community
1500.00
1,800,000
2
Azure
Apartment
Fitted Kitchen
Marina Full View
1175.00
1,000,000
1
Majara 1
Apartment
Unfurnished
Road
842.00
1,500,000
1
Marina Sail
Apartment
Fully Furnished + Balcony
Community
900.00
1,400,000
1
Sulafa Tower
Apartment
+ maid’s, Type F
Sea
1919.00
2,200,000
3
MAG 218
Apartment
Fully Furnished
Sea Partial View
950.00
1,400,000
1
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Dubai - A property investor’s guide
Deira
more accessible but if you’re travelling
Dubai College, Jumeirah English
by car then don’t expect to get very
Speaking School and Wellington
A popular area for those in search of
far during peak times. Parking is
International School are also nearby.
cheap rents, this is the heart of ‘old
also a challenge and women may feel
Pros:
Dubai’ and most buildings are several
uncomfortable walking around some
decades old.
areas at night.
If you can look past the heavy traffic
Properties can only be purchased by
and lack of parking, it’s a bustling,
GCC.
atmospheric section of the city and many a pleasant evening can be had exploring the souks, heritage sites and
Al Barsha
If villa size is important, you’ll get more for your money than say, somewhere like Jumeirah. The area is pretty central too with easy access to Al Khail Road and Sheikh Zayed Road. Mallrats will love the proximity to Mall of the Emirates and all its associated
creek-side alleyways.
Al Barsha is a safe and quiet area
entertainment and for those with more
Nearby:
filled with large, standalone villas
cultural leanings there’s the thriving
and some new apartment blocks
art community in Al Quoz.
Deira City Centre & Ghurair City cover off the malls for this area and you’ll also find more than enough small groceries, dry cleaners and the like within walking distance. The beautiful and popular Al Mazmar Beach Park is a short taxi ride away and night-
which are popular with Media City & Internet City workers. Al Barsha was once popular with groups of young professionals, who wished to share the cost of a property, but they have moved on and the area
Cons: Like many Dubai communities, Al Barsha is still a work in progress so much of the area does resemble a building site. Traffic diversions and dust are the obvious bedfellows to the
owls will appreciate Deira’s lively café
is becoming the preserve of families.
culture. If you need your leisure-
Nearby:
villas and compounds.
time to be spent in more upscale
It’s just a quick hop to the mighty Mall
Properties can only be purchased by
of the Emirates and many smaller,
GCC.
surroundings the Intercontinental, Hilton and Sheraton Creek are all close-by.
independent outfits such as spas, restaurants, salons & take-aways have
Pros:
sprung up around the area. Residents
Great for budget accommodation in an
now have a green haven to escape to
area of the city which has retained a
with the opening of the long awaited
feeling of ‘old Dubai’.
Al Barsha Pond Park.
Cons:
Schools in the area include the Dubai
The metro has definitely made Deira
construction activity dotted around
American Academy and Al Mawakeb. 13
Dubai - A property investor’s guide
Al Safa and Al Wasl Al Safa and Al Wasl are two quiet
Nearby:
Pros:
residential areas close to Jumeirah
Al Safa and Al Wasl are very centrally
Peaceful, pretty and very well situated.
located; Jumeirah Beach Road with its
Easy access to Sheikh Zayed road
The area is populated with mostly
leafy sidewalk cafes and boutiques is
provides a quick route to Dubai’s hot
highly-priced villas (old and new) set
just down the road and Dubai Mall and
spots and key locations.
in established streets with traffic-
Mall of the Emirates are a short drive
calming speed humps and ample
away. The weekly shop can be catered
Cons:
parking. There is traffic congestion at
for at Spinneys Centre, Park & Shop or
peak times on Al Wasl road, but traffic
Choithram which are all close by.
within the communities is rarely a
The areas have an abundance of great
that are popular with families.
problem and kids can ride bikes and play outside safely.
nurseries and local schools include Jumeirah English Speaking School, The English College and Jumeirah College.
14
Al Wasl Road can sometimes get congested. Older villas may experience a few maintenance issues. Properties can only be purchased by GCC.
Dubai - A property investor’s guide
Emirates Hills Emirates Hills is a gated community
sold per square foot to individuals to
Nearby:
that has been named after Beverly
build the house of their choice. Over
Hills.
time, all the plots were sold. Some
Mall of the Emirates, Dubai Marina,
Emirates Hills is largely home to
of the residents included the late
Pros:
Benazir Bhutto (although her family
Peaceful, pretty and very well situated.
still lives there), the manager of Géant
Easy access to Sheikh Zayed road
Middle East (Mohammad Shaikh),
provides a quick route to Dubai’s hot
and the owners of the Middle East
spots and key locations.
and open to anyone to purchase,
Broadcasting Center and Habib Bank.
Cons:
the majority of owners hail from the
Emirates Hills properties look out over
The price.
Indian subcontinent, Iran and Western
the fairways of the Montgomerie[1],
Europe.
an 18-hole Championship Golf
Although the developer, Emaar
Course created by architect Desmond
the expatriate community of Dubai, as it consists of the first freehold properties to be sold in the city. While the project was classified as freehold
Muirhead and seven-time European
Properties, pioneered the idea of
Villas as made to the owners own specification so all vary in size, design and décor.
Order of Merit winner Colin
freehold property in Dubai, this is Emaar’s only project where land was
Montgomerie.
Below are some properties that Carlton Real Estate currently have for sale in Emirates Hills.
Property
Unit Type
Model
View
Builtup Area
Selling Price
Beds
Sector H Villa
Villa
Unfurnished
Community
13500.00
25,000,000
6
Sector E Villa
Villa
Freyland Signature Vila
Garden
7800.00
24,000,000
5
Sector E Villa
Villa
Unfurnished
Pool
15000.00
29,000,000
6
Custom Villa
Villa
Custom Villa
Garden
12500.00
28,000,000
5
15
Dubai - A property investor’s guide
Arabian Ranches
properties here so the community has
is lacking in the city’s other
a well-established neighborhood feel.
neighbourhoods.
Arabian Ranches is an enclosed,
If you’re at home in ‘suburbia’, you’ll feel very settled here.
Nearby:
all-villa community with lush desert landscaping and an equestrian theme
Cons:
situated several miles out of town.
Bur Dubai is well-served by supermarkets with two Spinneys, a
Despite the easy access to Emirates
Union Co-Op, a Choithram and a huge
The luxury 2 to 6 bedroom villas &
Road and E611, it’s still a bit of a trek
Carrefour all within reach. There are
townhouses are set among greenery,
into town. Traffic on these roads can
numerous budget options for eating
lakes and the Arabian Ranches Golf
be extremely heavy at peak times and
out and expat-favourite Waxy’s can be
Course. Swimming pools, barbeque
when concerts and events are held at
found in the Ascot Hotel.
areas and tennis courts are also dotted
the Dubai Autodrome next door.
There are no schools in the immediate
To lease (prices in AED per year,
vicinity but Bur Dubai is very central
Nearby:
October 2013):
and plenty of Dubai’s top schools are
This is a self-contained development
• Two Bedroom Villa – 140,000
within a short traveling distance.
with pretty much all you need right
• Three Bedroom Villa – 160,000
Pros:
there on your doorstep. You’ll have
• Four Bedroom – 225,000
The area has a good ‘buzz’ at any
To Sell (prices in AED per year,
time of day and accommodation is
October 2013):
affordable for those on a budget.
• Two Bedroom Villa – 1,900,000
Cons:
• Three Bedroom Villa – 2,200,000
Bur Dubai suffers from heavy traffic,
around the community.
to drive 15-20 minutes to Dubai’s major malls and the beach but if it’s easy access you’re after, the Village Community Centre has a supermarket, chemist, liquor store and several cafes and restaurants. The Autodrome and
• Four Bedroom Villa – 3,500,000
Dubai Polo & Equestrian Club also give residents a few other social options.
Bur Dubai
The Jumeirah English Speaking School
Dubai’s ‘concrete jungle’ and the
is the community’s only educational establishment but the schools in Al Barsha and Emirates Hills are not too far away.
original heart of the city lacks any green space but boasts numerous new and old apartment blocks in an area that is centrally located with
Pros:
good facilities.
Unlike many of Dubai’s more transient
The area is old by Dubai standards
areas, there are many owner-occupied
and has a real street scene which
16
limited parking and apparently neverending construction. You’ll hanker after some green space after a while too. Properties can only be brought by GCC.
Dubai - A property investor’s guide
Festival City
Cons:
Marina with its numerous leisure and
It can feel a little remote at times and
entertainment options is a similar
Low-rise apartment blocks and villas
it’s definitely a bit of a trek from New
distance away.
in one of Dubai’s newest commercial,
Dubai. Traffic in Garhoud can be a
The Greenfield Community School can
retail and residential developments.
problem at peak times.
be found within the Dubai Investment
The area has a feeling of space and greenery with homes situated around a golf course. Adjacent to a massive shopping mall and well served by new roads in what is a fairly central position. Nearby: The area is well catered for with schools, golf courses & big retail brands such as IKEA and Marks & Spencer all within easy reach. Festival Centre on the banks of the Creek is home to over 400 shops and the adjacent Canal Walk offers an array of al fresco restaurants and cafes. And we mustn’t forget to mention the much loved Irish Village in nearby Garhoud. Festival City’s nearest schools are the Universal American School and Deira International School. Pros:
Park and there are also various
The Green Community The Green Community is an enclosed, out-of-town community providing villas, townhouses and apartments in attractive landscaped surroundings. Several swimming pools, play areas, basketball and tennis courts can be found across the community and
primary and secondary school options in Emirates Hills and Jebel Ali. Pros: Green Community fans love the wide open spaces and its family-orientated, community environment. The standard of finishing in the properties is high and the living & outdoor space allocated to each home is ample. Cons:
children & parents can be found
The Emirates Road roundabout
making good use of the green spaces
outside the Dubai Investment
and cycle paths in cooler months.
Park/Green Community area is an
A family environment with good
ongoing source of pain for residents.
shopping and leisure facilities but
Nicknamed hE11 circle by those that
situated some distance from Dubai.
have to use it regularly, traffic can be
Nearby: Green Community is situated within the Dubai Investment Park area which is some 40km from old Dubai.
held up for considerable lengths of time at peak hours. To lease (prices in AED per year, October 2013):
The area really does cater for
The community’s Marketplace
• Studios 50,000
everyone – the only thing missing is a
has a number of retail outlets, a
• One Bedrooms 70,000
nearby beach. It’s a great location for
Choithram and there are a host of
• Two Bedrooms 130,000
anyone who wants or needs to be close
pretty restaurants and cafes around
• Three Bedroom Villa – 220,000
to the airport.
a lake. The nearest mall, Ibn Battuta
• Four Bedroom Villas – 245,000
is a 15 minute drive and Dubai 17
Dubai - A property investor’s guide
To Sell (prices in AED per year,
still remarkably good value for money
there can sometimes be a certain whiff
October 2013):
for those who don’t mind being some
in the air if the wind is blowing the
• Studios 500,000
distance from Downtown and New
wrong direction. Pavements and ATMs
• One Bedrooms 900,000
Dubai.
are few and far between and the area
• Two Bedrooms 1,950,000
Nearby:
is definitely a little out of the way of
• Three Bedrooms 2,500,000
The area has its own selection of
• Four Bedroom Villas – 3,700,000
barbers, grocers, restaurants etc and
Dubai’s main action. To lease (prices in AED per year,
International City
it’s adjacent to the massive Chinese
October 2013):
discount market, Dragonmart.
• Studios 30,000
Located at the intersection of the
Pros:
• One Bedrooms 38,000
Emirates road and Dubai-Hatta
Decent, one bedroom apartments and
road, International City is an out
studios are readily available here at
of town low-rise apartment block
rents lower than almost any other part
October 2013):
development that boasts some of the
of the city. If you’re a Dragonmart fan
• Studios 330,000
cheapest rents in Dubai.
and are on the look-out for a bargain
• One Bedrooms 420,000
The neighbourhood is divided into
home then this is place for you.
• Two Bedrooms 650,000
clusters named after different
Cons:
countries and each cluster has its
There is a waste dump nearby so
own ‘theme’. It’s a bit soulless but
18
• Two Bedrooms 45,000 To Sell (prices in AED per year,
Dubai - A property investor’s guide
Jumeirah Beach Residence (JBR) Also known as JBR, Jumeierah Beach
studios to 5,500 sq ft penthouses.
• One Bedrooms 85,000
Residence is a 1.7 kilometres (1.1
The developer, Dubai Properties (a
• Two Bedrooms 105,000
mi) long, 2 square kilometres (0.77
subsidiary of Dubai Holding), launched
• Three Bedrooms 145,000
sq mi) gross floor area waterfront
JBR in August 2002. This 6 billion
• Four Bedrooms 240,000
community located against the
dirham project was completed in 2007.
• Penthouses 450,000
Persian Gulf.
“The Walk at JBR” restaurant and
To Sell (prices in AED per year,
It is the largest single phase residential
shopping strip, which is adjacent to the
October 2013):
development in the world and contains
beach behind JBR, is a very popular
40 towers (36 are residential and 4 are
location for Al Fresco dining.
• Studios 950,000
hotels). JBR can accommodate about
To lease (prices in AED per year,
• Two Bedrooms 1,650,000
October 2013):
• Three Bedrooms 2,200,000
• Studios 70,000
• Four Bedrooms 2,600,000
15,000 people, living in its apartments and hotel rooms. The Project has 6,917 apartments, from 900 sq ft
• One Bedrooms 1,300,000
• Penthouses 4,500,000 19
Dubai - A property investor’s guide
Below are some properties that Carlton Real Estate currently have for sale in JBR.
Property
Unit Type
Model
View
Builtup Area
Selling Price
Beds
Murjan 1
Apartment
plus maid’s
Marina
1900.00
2,800,000
3
Al Bateen Residence
Apartment
A3A
Sea Full View
2307.00
3,800,000
3
Shams 2
Apartment
Fully Furnished
Sea Full View
1290.00
2,100,000
2
Al Bateen Residence
Apartment
Type A2D
Sea Full View
1717.00
3,150,000
2
Al Bateen Residence
Apartment
Type A2D
Sea Full View
1092.00
2,400,000
1
20
Dubai - A property investor’s guide
Jumeirah Lake Towers (JLT) Jumeirah Lake Towers is a huge
which is 66 floors. The tallest tower
towers in JLT had been completed.
development which consists of a 79
and the centerpiece of the entire
While the entire development is
towers being constructed along the
complex is Almas Tower which will
expected to be completed in 2014
edges of four artificial lakes (Lake
be situated on its own island between
Almas West, Lake Almas East, Lake
Lake Almas West and Lake Almas
To Sell (prices in AED per year,
Elucio, and Lake Allure) as well as
East. All residential towers will be
the JLT Embankment of 8 tower
placed in clusters of three. This
facing Jumeirah Islands.
therefore makes the areas easier to
The lakes (which are about 3 metres
navigate when mail is distributed.
(9.8 ft) deep) will be completely filled
The completion of Saba Tower in
by end of 2009.[1] The total area
December 2006 marked the first tower
covered by the lakes, waterways and
to be completed in Jumeirah Lake
landscaping will be 730,000-square-
Towers. The final tower is expected to
• Studios 50,000
metre (7,900,000 sq ft). The towers
be completed in 2011. The majority of
• One Bedrooms 65,000
will range from having 35 floors to
construction will take place in 2008.
• Two Bedrooms 85,000
having 45, except for the centerpiece,
By April 2011, over 80 per cent of the
• Three Bedrooms 100,000
October 2013): • Studios 460,000 • One Bedrooms 650,000 • Two Bedrooms 880,000 • Three Bedrooms 1,350,000 To lease (prices in AED per year, October 2013):
21
Dubai - A property investor’s guide
Below are some examples of commercial properties that Carlton Real Estate currently have for sale and lease in JLT. Community
Property
Unit Type
View
Built up Area
Selling Price (AED)
Jumeirah Lake Towers
Jumeirah Bay Tower (X2)
Office
Lake
8398.00
9,000,000
Jumeirah Lake Towers
Fortune Tower
Office
Sheikh Zayed Road
1835.00
1,376,250
Community
Property
Model
View
Built up Area
Rent Year (AED)
Jumeirah Lake Towers
The Icon Tower
Shell and core
Sheikh Zayed Road
2147.00
300,000
Jumeirah Lake Towers
Saba Tower
Fully Furnished
Marina
2297.00
275,640
Jumeirah Lake Towers
Jumeirah Bay Tower (X3)
Fitted Out
Lake
1125.27
76,518
Jumeirah Lake Towers
Jumeirah Bay Tower (X3)
Fitted Out
1138.82
83,134
Jumeirah Lake Towers
Jumeirah Bay Tower (X3)
Under fits out
Lake
1138.51
81,973
Jumeirah Lake Towers
Jumeirah Bay Tower (X3)
Under Fits Out
Golf Course
1302.70
104,216
Jumeirah Lake Towers
Jumeirah Bay Tower (X2)
Lake
1238.16
92,862
Jumeirah Lake Towers
Jumeirah Bay Tower (X2)
Lake
1238.18
92,864
Jumeirah Lake Towers
Indigo Icon
Fully Fitted
1642.84
213,569
Jumeirah Lake Towers
Goldcrest Executive
Fully Fitted
900.00
200,000
22
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Dubai - A property investor’s guide
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