Lakes, Meadows & Jumeirah Islands Edition - THE JOURNAL - Autumn 2012

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Lakes Meadows Jumeirah Islands GOURMET DELIGHTS Café culture in Emirates Hills town centre

HEALTH AND FITNESS CLASSES REOPEN

TREAT YOURSELF TO A MASSAGE AND A MEAL

MEADOWS PROPERTIES UP BY 25 PER CENT

grows as Tim Horton’s and Milk & Honey ex-

The ever-popular Circuit Factory restarts its

The Angsana Spa at the Montgomerie Club is of-

Homes in this popular neighbourhood have

pand, to include outside dining areas. The

Emirates International School classes in The

fering a 90-minute treatment (choice of three) plus

soared by a whopping 25 per cent according

latter will serve light meals created from the

Meadows in September after moving location in

either lunch or dinner, all for Dhs659. Why not

to Emirates 24/7, with a shortage of 4 to 5 bed

ingredients available in the gourmet store.

DAA for the summer.

treat yourself and a friend?

villas pushing prices to Dhs4-6 million.

Neighbourhood in Numbers

10

million dirhams.

Amount by which selling prices of villas in The

Mansions, Jumeirah Islands, have dropped since their peak. Typical property prices now are around Dhs16m.

4.3

million dirhams: the asking price of a four-bedroom

family villa in The Meadows.

70

The percentage of villas nearing completion in the

Jumeirah Park development.

6.5

million, the asking price in dirhams for a six-bedroom

villa currently for sale in the Hattan section of The Meadows.

2

The number of golf courses within easy reach of the Lakes and Meadows. Both the

Montgomerie and Emirates Golf Course are accesible by car in minutes.

7

This is the highest number of

The Grass is Greener Here The grass proved greener in Jumeirah Islands for one investor, who turned his back on Europe to buy property in Dubai instead

by Samantha Armstrong

Watching the Bahrain F1 from his London home in 2004 George Tannous had already been thinking about investing in property abroad and the Middle East seemed like an attractive option. After a four-page Sunday Times Property article on Dubai caught his eye, he was hooked. “I was planning on investing in Europe, but this made me think twice. From the beginning the only place I really fell in love with was Jumeirah Islands.’’ At that time, George was buying as an investment, but he felt that the family-focused community, dominated by green areas and

waterways would be a dream home for anyone who could afford it. And others agreed; the development was proving so popular that prices were climbing at a rapid rate.

“I travelled once a month to buy, but each time the cost rose and I couldn’t catch up with the increment.’’ As an interim measure, George bought a villa in The Meadows. As the financial situation changed, the gap between the two properties narrowed and he bought in Jumeirah Islands in 2008. What he originally rented out to tenants has now become a family home he shares with his wife and twin sons. ‘’The European architecture is a plus and what makes these villas so unique is the double height ceiling which gives them a real wow factor.’’ Having moved to Dubai as VP Design for the Atlantis Hotel and subsequently occupied several high-level client side roles for developers he understands the qualities as well as the pitfalls buyers can face. ‘’Jumeirah Islands got things right at the fundamental

level. The roads are good and villa clusters are not interrupted by through traffic. The flip side is that communal areas require a lot of maintaining and that hasn’t always been done as well as it could. We worry that some of the green areas may be redeveloped into other things as time goes by, which happened with the original lake plan in Arabian Ranches.’’

The Lebanese-born entrepreneur has made investments in residential, retail and commercial units. And while his latest project is a departure from the property sector he still finds himself relying on many of the project management skills he has acquired over the years. Special Gourmet International is a multi-pronged food service business, which provides solutions for those opening a gelato business, coffee shop, restaurant or bakery.

With a young family and growing business, Dubai will be a long-term home for the family and George is adamant that Jumeirah Islands is the dream place to settle.

WWW.LUXHABITAT. AE

bedrooms available in a villa in The Meadows. Villas start from

3 bedrooms and all are two-storey.

24

hour security offered in the Meadows and Lakes; security guards and

gated entranceways add to the safety of this popular family area.

9

The length in feet of the ceiling height of living rooms in the Meadows, offering residents an

airy and spacious environment.

5

The number of communities in the Lakes: Deema, Forat, Maeen, Zulal

and Ghadeer.

TO READ MARKET UPDATES FROM OTHER NEIGHBOURHOODS

www.thejournal.ae/neighbourhood

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Autumn 2012

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Lakes Meadows Jumeirah Islands

Expert View with LINDA KUHN Luxury Sales Specialist, Luxhabitat E: lk@luxhabitat.ae | T: +971 50 228 3328

Desired addresses Expansive areas of carefully tended green space are a benefit of living in the established neighbourhoods of The Lakes and Meadows, while the communal spaces at the newer Jumeirah Islands are looking increasingly promising

Easy access to two of Dubai’s most prestigious golf clubs is just one of the lifestyle benefits of living in the Lakes or Meadows

The Lakes, Meadows and nearby Jumeirah Islands market has remained fairly static over the last six to eight months. Previously there were a lot of sales as prices continued to drop, but confidence has returned and owners are edging up sales prices, determined not to sell unless they can fetch a premium.

Among the three, Jumeirah Islands is the most sought after and people are seduced by what they perceive as a more upmarket address. The privacy of cluster living as opposed to the ‘compound’ feel in The Meadows is another positive. That said, those looking for value for money are still opting for The Meadows, where you can purchase a four bedroom property for around Dhs4.3million and rental prices for a four or five bedroom villa are between Dhs250,000-260,000.

There is a good number of properties for sale in Jumeirah Islands and there are still bargains to be found. However, rentals move quickly here and are therefore harder to find.

Occupancy levels in the recently handed-over Mansions area are low and there is a sense that these villas, which are significantly larger and more expensive than other Jumeirah Islands properties, have pitched themselves above what people are prepared to pay in a community development. Initially priced as high as Dhs26m, we are now seeing them down to Dhs16m. Put this in the context of the affluent enclave Emirates Hills, where properties can also be found for Dhs16m, and the Mansions are struggling with the comparison.

Those looking for a villa in Emirates Hills may consider Hattan in The Lakes, where the average villa is Dhs10m-14m.

As any community matures, safety and security needs maintaining. Additional speed humps have been added in Jumeirah Islands to moderate vehicle speeds, which became a problem partly due to the number of cars driving through the development as a short-cut to

Even when communities are as well established as The Lakes and Meadows, developers can still add value by providing services for residents’ benefit reach other areas. The Meadows reviewed its security measures recently when Emaar clamped down on unregulated garden companies entering the community; residents have since been issued with a list of approved suppliers that are allowed entry. Even when communities are as well established as The Lakes and Meadows, developers can still add value by providing services for residents’ benefit. For example, recycling facilities, which would be considered a basic provision in most European cities, do not exist here.

The Fitness First brand has taken over the old Hayya clubs in the Lakes, Meadows and Springs and facilities are being renovated.

This had had an impact on membership at Jumeirah Islands Clubhouse as some people are opting to use the nearby Fitness First gyms and swimming pools for a cheaper price. The Lakes Club no longer has a pool bar area and Emaar Hospitality is managing the F&B. This venue has a real opportunity to attract a local audience. In The Lakes there is a six-bed Hattan property for sale at Dhs25m, notable for the area but unlikely to sell for that amount.

There continues to be a shortage of stock for sale and rent in The Meadows as it is a popular area with prices within people’s budget. Jumeirah Park is close to completion and likely to benefit properties in Jumeirah Islands tht were struggling to sell. We do expect prices to pick up here, but not to a dramatic extent, over the next six months.

JUMEIRAH PARK VILLAS HANDED OVER Located beside Jumeirah Islands, Nakheel’s new Jumeirah Park community is in the process of being handed over, with around 70 per cent of the villas completed.

Jumeirah Park occupies 350 hectares with 2,000 villas ranging from 3-5 bedrooms. Nakheel recently announced that there would be Dhs27.8m invested in the parks and community areas. The developments will please Jumeirah Islands residents some of whom have been affected by the sights and sounds of construction so close to their ‘back yard’.

Autumn 2012

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THE JOURNAL

CELEBRITY MAKE-UP ARTIST IN RESIDENCE Socialites in the area have added a new go-to guru to their speed dial. Jumeirah Islands resident and professional makeup artist Sophie Hendra was called on to do Mischa Barton’s make up for her exclusive l’Officiel shoot during her visit to Dubai this summer. Having trained in the UK in 2001, Sophie is a favourite amongst the UAE’s photographers, fashion deThis four-bedroom villa enjoys an elevated position on the Jumeirah Islands Clusters. The elegantly proportioned property comprises a spacious lounge, separate

signers, editors and stylists and is one of

dining room, movie room and fully fitted kitchen with breakfast area. The landscaped garden features a pool and water feature. AED 6,500,000. Property ref. 892

the very few locally to offer airbrush make-up. She is sponsored by MAC and has attracted a wide local and expat clientele with wedding make-up her speciality. She is also a regular contributor on beauty blog beyondbeauty.ae. Get your diaries out and book ahead!

Sophie Hendra; 050 600 9349

This lake-facing five bedroom Mansions villaDhs boosts four reception rooms, kitchen and breakfast room; the dining room has a water feature and a staircase to a first floor reception room. AED 14,000,000. Property ref. 1008

Milk & Honey Launches Gluten-Free Section When Milk & Honey opened in Emirates Hills Town Centre development earlier this year the gourmet grocer became a hit with the surrounding dinner party circuit looking for ways to impress their guests. Dubai’s second Milk & Honey is larger than its Palm Jumeirah predecessor and boasts a decadent cheese room another string to its bow with a glutenfree section that offers more than 250 gluten-free products, sourced from wellknown international brands such as Australia’s Loving Earth, Brook Farm, Lentilicious and Whisk & Pin – music to the ears of the food-intolerant who While the beautiful interior of this villa certainly adds to its breathtaking charm, the real pièce de resistance of this Hattan villa in The Lakes is its stunning, mature tropical garden. AED 11,300,000. Property ref. 931

supermarkets. The gluten-free foods in-

clude sauces, chocolate, muesli and breads, as well as the popular brazil nut butter. The retailer is also the only place to offer super manuka anti-bacterial honey, with its healing properties.

If you are looking for a great gift, Milk & Honey prepares hampers to order, to suit your wishes. And for those who want to go that extra mile why not throw in bottle of 18-carat gold lemonade or 100year aged De Vinzi balsamic vinegar at Dhs1,599 per bottle. While we were told that the sales tactic of keeping price tags concealed was designed to promote customer education about the product, as opposed to its RRP, we think there may be another reason at play...

Milk & Honey; 04 435 6363

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Autumn 2012

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FEATURED PROPERTIES

Property Gallery

Scan the QR code with your smartphone to www.luxhabitat.ae

This striking villa in Hattan Three boasts upgrades throughout. A water feature and Mayan-style doorway lead to the rear of the villa, while past the front door one is greeted by a floor-to-ceiling window that leads the eye out to the private swimming pool and verdant garden, connecting the outside and inside of the property in a wonderfully free-flowing way. The internal space of 6,125 sq.ft (569 sq.m) includes five ensuite bedrooms and two additional bathrooms. AED 11,300,000. Property ref. 931

Located on one of the most favoured clusters in the stunning Jumeirah Islands, this property of five bedrooms boasts

Decorated with flair and attention to detail, with the use of very high-quality materials, this five-bedroom villa in Jumeirah

impressive landscaped gardens that are perfect for entertaining friends and family. AED 7,999,500. Property ref. 932

Islands boasts an open-plan ground floor with a large Majlis area. Price on application. Property ref. 1012