Dubai - A Property Investor Guide

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.

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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

9

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

10

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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