The Lakes and Meadows - The Journal local edition - Summer 2012

Summer 2012

Lakes Meadows gourmet grocer gives the foodies a boost

life just got easier with public transport links

fresh-air fitness without the need to join a gym

residents welcome new pedestrian bridge

Milk & Honey, the upmarket deli that opened on Palm Jumeirah in 2009, now has a branch in Meadows Town Centre – open 24/7. Its Provence Cheese Room is gourmet heaven.

With the expansion of the Dubai Metro feeder bus network through the community has transformed life for non-car owners such as domestic staff – not to mention independently-minded teenagers.

The decision to open The Meadows’ communal swimming pools until 10pm is welcome as summer approaches. The pools complement a network of well-lit paths for evening walks or runs.

A much-needed pedestrian crossing is about to open at the cusp of The Meadows and The Springs. With bicycle ramps as well as stairs, the safe crossing is sure to be heavily used.

Lakes & Meadows in numbers

2

The number of golf courses next to the Meadows and Lakes – The Montgomerie and Emirates Golf Club

4

The number of schools that the Lakes and Meadows share, making it one of the most family-focused areas in which to bring up children

9 18

The number of sectors in The Meadows

communal swimming pools in The Lakes and The Meadows combined

6,500

The number of square feet in the Hattan-style villas of the Lakes

250,000

The average yearly rental price for a 4-bedroom villa in The Meadows

30,000

The size in square feet of the community centre in The Lakes

25

million The price in dirhams for the most expensive villa in The Lakes currently listed in the Luxhabitat portfolio

Current Prices

Painting the Town Green Verdant spaces, tranquil waters and a family-friendly lifestyle set the The Lakes and Meadows apart from other Dubai communities

by Emilie Goldstein

Think of Dubai and the first images that spring to mind are the tallest tower, the only seven-star hotel, and the most expensive horse race in the world. But peel away the layers and you’ll find that, for all its superlatives, Dubai is also a city that knows how to slow down. Nowhere is this truer than in The Lakes and The Meadows, two havens of serenity nestled within the Emirates Living community. Here, time seems to have come to a halt – tree-lined streets, well-manicured private gardens and sparkling lakes define a bucolic sanctuary that feels far away from the chaos of city life.

The quiet streets, placid lakes and wide open green spaces make The Lakes and The Meadows one of the most prized neighbour-

hoods for families and professionals. In this Norman Rockwell painting of ideal suburban life, everything has been designed for comfort, down to the smallest of details. The pathways are wide enough to ride a bike, push the pram or jog; no effort is spared to keep the streets, waterways and parks impeccable; and the range of communal facilities, including paths around the lakes – which abound with turtles, ducks, fish and birds – gyms, pools, supermarkets, and play areas, is impressive to say the least. And the residents appear to make full use of it all, thus fostering a greater sense of community With such a good quality of life, The Lakes and The Meadows epitomise family living at its best – and, as a resident, you would be easily forgiven for never wanting to leave this little slice of paradise.

The Lakes and Meadows also impress with the expansive interiors of their villas – surface areas range from a comfortable 3,500 square feet to the very generous 6,500 sq.ft of the Hattan-style villas.

Both neighbourhoods are popular with a very wide range of nationalities; indeed the

Average listing prices in The Meadows and The Lakes, compared with other villa comunities

mix of residents reflectsDubai’s population as a whole, with Indians and Lebanese living alongside Europeans and Iranians.

Location, location, location! When the need does arise to step out of the scenic refuge, all of the modern conveniences are at your doorstep – one of the perks of being so well situated.

The communities boast three shopping centres – The Meadows Village, The Meadows Town Centre and Springs Town Centre – that offer numerous dining and shopping options.

The Lakes, too, has its own branch of Choithrams for everyday grocery shopping – and it’s located right next door to The Lakes Club, which offers a plethora of sporting amenities, from tennis courts (with a very active membership, and popular children’s lessons) to a great gym and pool. During the weekends some families virtually move in to the Club to take full advantage of what it offers.

As may be expected from an area that is so family-focused, there’s a great choice of schools and nurseries within and very close to the communities. The two adjoining neighbourhoods share four schools (including the

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continued on page 16

Average Price (AED/ sq ft) Palm Jumeirah

2,132

The Meadows

1,172

The Lakes

1,158

Jumeirah Islands Arabian Ranches

1,127 997

Source: Luxhabitat analysis, June 2012

To READ MARKET UPDATES FROM OTHER NEIGHBouRHOODs

www.thejournal.ae/neighbourhood

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Lakes Meadows did you know...

The twin neighbourhoods of The Lakes and The Meadows are about as close as it gets to being a fully selfcontained community, now that there are schools, shops, sports amenities, cafes and (at last) even a petrol station within its boundaries – not to mention the social hub of Lakes Club.

And if that’s not enough – say, golf lessons are needed, or a fine dining restaurant – residents need not even drive as ar as Sheikh Zayed Road; The Montgomerie is neatly sandwiched by the two developments.

And the sea is just five minutes away.

Expert View with Linda Kuhn Luxury Sales Specialist, Luxhabitat

E: lk@luxhabitat.ae | T: +971 50 228 3328

Demand for Lakes and Meadows Homes Keeps Prices Very Healthy

continued from page 15

highly regarded Emirates International School Meadows), three nurseries (including Jebel Ali Village Nursery) and three medical clinics, an added convenience for families with children.

In addition to a relatively new and conveniently located petrol station in The Meadows, the two communities are also just a stone’s throw away from Sheikh Zayed Road on one side and Al Khail Road on the other, making commutes to and from work very easy. The new Al Khail link road has made it even more pleasant.

For those who love to shop, Mall of the Emirates and Dubai Marina Mall are just up the road, as are the beaches of JBR and Al Sufouh. And if golf is your game, what are the odds of being sandwiched directly between two world-class golf courses, The Montgomerie and Emirates Golf Club, with their expanses of green space and rolling fairways?

But what really makes life as right as rain is the feeling that you’re part of a tightly-knit community – the spirit of which has been created by the residents themselves. Occasions abound when residents can meet up for a bit of socialising at a street party, a tennis game or a boogie baby class. Each month, the calendar is packed with happenings that include public holiday celebrations, barbecues, dinners and brunches, quiz nights and sports screenings – there’s nothing like a good game of rugby and homemade pie to bring residents together.

and selling it back for a substantial profit; now there is a definite increase in acquisition by owner-occupiers and not nearly as much movement as there used to be. That said, as the property market continues to recover, we should see the former type of investor return.

Most expats choose The Lakes or The Meadows for the fantastic lifestyle package, such as

established facilities, a strategic location, safety and privacy. Within the nine Meadows and The Lakes, residents can enjoy more than a dozen play areas and 18 pools, not to mention Lakes Club, which is always packed with families on weekends – in March, Fitness First took over the former Hayya operations there.

Supermarkets, such as two Spinneys and two Choithrams, and a recently opened (and much needed) petrol station, and a number of banks, make running errands especially easy.

For those who commute every day to work, or who are on school runs, the new multi-lane road that runs through The Springs, as well as the completion of the junction connecting Sheikh Zayed Road, JLT and The Lakes, have eased traffic considerably – although the lack of speed regulation is a growing concern in this quiet residential area.

There’s no price tag on security and privacy, especially for high-profile personalities and for families who’ve moved to Dubai since the Arab Spring. Security is taken very seriously and entrants are screened carefully at the gates. Moreover, the security guards are always alert. Recently there was a fire in The Meadows; security immediately alerted the fire department, thus averting panic and minimising disruption for the residents.

That said, both communities could be more eco-friendly. Despite growing awareness of the need conserve the Earth’s natural resources, recycling facilities – which used to exist – have disappeared. Reinstating them would make it easier for residents to support conservation efforts.

Linda Kuhn was talking to Emilie Goldstein

With The Meadows being one of Dubai’s more established communities it’s hard to imagine that when Nathalie moved here in 2006, only sectors 1, 2, 3 and 9 were fully built; many of the houses in The Meadows 5 weren’t finished. Nathalie explains: “Our home didn’t come with a pool like most villas in The Meadows do nowadays. Instead, our back yard was a huge sandpit.

I remember us drawing shapes in the sand with our feet, imagining what our pool would look like.” With a generous plot size of 13,000 sq feet, there was plenty of space for one, complete with lake view, which Nathalie enjoys in the months when the temperatures are kindest.

Down-to-earth and friendly, Nathalie gives a slightly surprising reason why living in the Meadows is so great. Instead of ‘the location’ or ‘the amenities’, she says that the number one benefit of living in this gated community is safety. “Coming from Russia, I can’t tell you how much I value the security of this place, especially as my husband travels a lot. In my home, I feel so safe and relaxed that I can sleep at night without even locking the door. It’s probably not a great habit but it goes to show how much I trust this community.”

That said, Nathalie appreciates the fantastic

lifestyle that The Meadows offers, including the amenities, which have come a long way since she settled here: “Before the Spinneys at Meadows Town Centre was completed end of 2006, I used to have to drive to Spinneys on Al Wasl or to the small Choithrams in The Lakes. Now, we’re spoiled for choice and there are new outlets popping up every day, like the new Milk & Honey delicatessen in Meadows Town Centre.”

When Nathalie isn’t working as an events organiser for her husband’s company, Andarakis Advisory and Consultancy, she likes to fit in a game of squash or private training session and browse around the boutiques at Mall of the Emirates. “With the house so close to the mall, I seem to be able to find a reason to go there every day,” she says with a coy smile.

The completion of the Sheikh Zayed-JLT -Lakes junction has also made life easier. “Getting to and from JLT when I had my office there was a nightmare. Some mornings it could take up to an hour! I would have to drive to Media City to make a U-turn before exiting in JLT, and as there was only one way to go, the traffic was horrendous at peak hours.”

Although Nathalie agrees the new roads are an improvement, at least traffic-wise, she adds

Sales prices in this neighbourhood rose by 20 per cent in 2011, while rental prices are also heading upwards

Despite the 2008 global crash, the more mature communities of The Lakes and The Meadows are still in high demand. In fact, after the 2009-2010 economic slump, which saw prices plummet by about 50 per cent for five-bedroom villas in The Meadows – hitting a low of AED 3.5 million, asking prices jumped by 10 to 20 per cent in 2011. There’s also an upward trend in rental prices – the average yearly rent for a four-bedroom villa in The Meadows increased by about 10 per cent, to AED 240,000, in the first quarter of this year.

People tend to settle in the neighbourhood for the long haul, making it difficult to respond to the high demand – currently there are fewer than a dozen villas for sale between The Lakes and The Meadows. We are no longer seeing investors buying a villa, renovating it

People tend to settle here for the long haul – currently there are fewer than a dozen good villas for sale

interview

The Living is Easy in The Meadows For long-time residents Nathalie and Alex Andarakis, safety and privacy are the greatest attractions of this peaceful neighbourhood

by Emilie Goldstein

When events organiser Nathalie Andarakis and her husband Alex moved from Jumeirah to The Meadows in 2006, they were looking for an investment. “At the time, the prices were more reasonable and it would have been a waste of money to stay anywhere as a tenant.” After visiting several homes in Emirates Hills, which Nathalie deemed too big for two people, the couple settled on an AED6 million, four-bedroom Hattan villa in Meadows 5.

Summer 2012

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the journal

star property

A Family Home with a Great Big Heart generous, to say the least.

The villa’s main entrance is highlighted with a multi-level, stone fountain that adds a sense of movement and vitality to the setting. A large entrance hall leads into a spacious openplan living area which, in turn, opens out to the garden and pool. The kitchen is separate, a traditional touch that some will appreciate. Of course, it’s large enough to become the informal heart of the home and for those who enjoy cooking, it almost certainly will. Also on the ground floor is a large, en-suite guest bedroom – which is currently used as a home office.

Maid’s quarters (with a private entrance) are, of course, standard, and the two-car garage has provision for a driver’s room if wished.

A sweeping, circular staircase leads upstairs, where five bedrooms (of which four are ensuite) are complemented by a central, openplan family sitting room. Three of the bedrooms, including the very generous master suite, have private balconies. The fifth bedroom could easily be transformed into a library, games room or even a yoga studio, if wished; the possibilities are many.

A great asset of this villa is its position: it has far-reaching views down the entire length of one of Emirates Golf Club’s fairways, which greatly enhances the property’s sense of space, while ensuring privacy. As a bonus, the huge roof terrace provides a grandstand view when major championships are played on the course.

With its generous spaces and well thought-out floor plan, this Hattan villa offers plenty of scope for new owners to make their mark

Step within the perimeter wall of this stunning villa and you could be forgiven for thinking that you’d arrived at a modern-day version of an Arabian fort. One that you’d very much like to live in, of course, and one where the only likely battles will be about whose turn it is to lie by that blue and inviting pool.

The mock-Arabian style has been very popular in newer developments and is certainly an Emaar favourite (just look at Old Town). Here

FASCINATING FACT...

Emirates International School, located in The Meadows, was the first in Dubai to offer the International Baccalaureate programme when it opened in 2005. Hugely popular among residents of The Lakes and The Meadows, as well as other nearby neihbourhoods, its current roll of approximately 1,200 pupils (up to Grade 11) includes 65 nationalities.

in the Hattan neighbourhood of The Lakes, the theme is just detectable in the squared-off lines, flat roof and the straight wooden rails on the numerous balconies.

The restrained embellishment and clean lines of the exterior give way to a relaxing ambience inside, where neutral finishes (acres of sleek marble flooring and pale walls) are a canvas on which new owners can make their own mark. At 7,400 square feet the space is

Sure and Steady is the Trend for Prices 1,000

As the well-planned neighbourhoods within Emirates Living have become stable and fully-fledged communities, demand will push up values at a measured and sustainable pace.

to read more see www.thejournal.ae/neighbourhood

800

Emirates Living Actual Average Transaction Price/ sq ft (AED)

956

755

741

718

688

by Samantha Armstrong

that she would have been very upset had she bought her home in Meadows 1, through which the road to JLT has been built.

The high level of privacy in the Hattans is also an aspect of living in The Meadows that Nathalie and her husband appreciate. “Sure, there’s the odd party but, on our street, people tend to keep to themselves more. It’s just so quiet here and there’s plenty of room between the houses.”

She adds: “Here everything around us is so green, calm and beautiful, and you’re very close to everything else. You just can’t get that anywhere else in Dubai, even in places like JBR and the Marina, where at least you have the sea.”

And so it came as no surprise that, when asked whether she would ever consider moving to a newer, up-and-coming neighbourhood, Nathalie’s answer was as serene as the community she lives in: “Move? And go where? There’s no better place.”

AED 14,000,000; Property Ref. 482 Contact Linda Kuhn: +971 50 228 3228; lk@luxhabitat.ae

Carved out of what was once a vast tract of sand and is now an area rich with trees, lakes and bird life, Emaar’s Emirates Living community comprises The Meadows and The Lakes areas, offering both villas and townhouses. Handed over in 2005, as one of Dubai’s first new residential communities, the development is now very well established, and its location beside Sheikh Zayed Road and close to the Marina adds to its appeal. As a result, the area remained one of Dubai’s most stable during the downturn.

Sales transaction data produced by Reidin shows that the average sales price per square foot increased from AED 741 in December 2007 to a peak of AED 956 per sq.ft in September 2008. Prices fell to AED 755 per sq.ft in March 2009 before hitting their lowest point at AED 600 per sq.ft in December 2010.

Prices tended to remain slightly higher throughout the 2007–2012 period here than in Emaar’s Arabian Ranches development, which is similar in both the quality and size range of properties that make up the community. Although Emirates Living had a lower original sales price, its proximity to Sheikh Zayed Road, lack of ongoing construction and access to four ‘town centre’ facilities (including those in the wider Springs community), have kept prices higher.

While the area did not suffer as sharp a fall as other developments in Dubai, the recovery

600

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Dec 07

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Mar 09

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Already established by the time the financial crisis hit, The Lakes and The Meadows saw values hit less than elsewhere Source: Luxhabitat analysis, June 2012

too has been slower, with a current average sales price of AED 718 per sq.ft.

According to information from LuxHabitat, the current price of three-bedroom villas is between AED 2,100,000 and AED 4,500,000, with four-bedroom homes valued in the AED 2,500,000–AED 11,000,000 range. The most popular and sought-after villas in the community fall into these two brackets.

Five- and six-bedroom villas can be found in various pockets of The Lakes and Meadows, ranging between AED 4,000,000 and AED 14,500,000-plus for the former and AED 8,500,000–AED 14,500,000-plus for the latter. For the much rarer seven-bedroom villas prices are about AED 14,500,000 upwards.

As one of Dubai’s most popular and wellestablished villa communities, Emirates Living attracts a high number of end-users, especially families looking to buy or rent. This does of course, slow down the turnover, and thus pushes prices up – especially now that early stage investor-buyers have long since sold out their interests.

These self-contained neighbourhoods have all of the facilities that residents need, just a short walk or, at the most, a five-minute car journey away, and their location provides easy access to other parts of the city. Prices here represent a good value, long-term investment and potential buyers can be confident that it will remain an attractive and stable area.

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featured propertIES

Property Gallery

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The tranquil setting of this Meadows villa is enhanced by the lake view and mature trees that surround its large garden. Indoors, the light and spacious interior has been upgraded to a high standard, with neutral materials, offering great scope for new owners to decorate in their own style. Arranged over 6,650 square feet, a beautiful family kitchen-diner is complemented by an informal living room, formal sitting and dining rooms and a guest suite, with three suites and two additional bedrooms upstairs. AED 9,450,000. Property Ref. 749

With a large terrace and swimming pool set beside a lake, this villa in The Meadows offers five bedroom suites and a generous 4,500 square feet of living space. Open-plan living areas extend into a large conservatory. AED 6,000,000. Property Ref. 682

Set in the heart of The Lakes, this Hattan villa overlooks the golf course. With a swimming pool, three reception rooms, six bedroom suites and an upstairs family sitting room, it is a spacious and beautiful family home. AED 12,500,000. Property Ref. 716

jumeirah islands

entertainment foyer

A four-bedroom villa of 5,000 square feet. AED 6,200,000. Property Ref. 941

masterview

A five-bedroom villa of 6,500 square feet. AED 7,999,500. Property Ref. 932

entertainment foyer

A four-bedroom villa of 5,250 square feet. AED 6,000,000. Property Ref. 953