These newly crowned districts – and one long-time favourite – are the ones to watch for buyers.
From Downtown Dubai's bustling cityscape to Jumeirah Beach Residences' urban beachfront towers and The Greens' manicured streets, there's no shortage of premium real estate options in Dubai. We ask the experts at Dubai International Property Festival where investors can snap up an exciting new asset, and where end-users should be hunting for their dream home.
After viewing the detailed showcases at the International Property Show 2017, held in Dubai's World Trade Centre on April 2nd – 4th, the wealth of information had investors impressed by Dubai's wealth of successful regions and excited by the city's potential for further sustainable growth. But, how can buyers make a decision on what will be the next location to boom?
Karim Baroudi, Director of Sales and Marketing for Al Mazaya, one of the city's largest real estate developers, says that choosing a relatively new district on the cusp of exploding in popularity is always a sure bet. His pick for Dubai's next Marina or Business Bay is Dubailand and its newly developed sub-districts.
"Dubailand is one to watch – I call it the land of opportunity. Now that Sheikh Zayed Road is already supporting so many vertical structures, buyers are looking further back and to the backside of Downtown Dubai, as the city continues to spread,” he explains.
Lying to the south-east of Business Bay, adjacent to Arabian Ranches, the Dubailand precinct has been developed into a lush, wide avenue suburb, with projects including Al Mazaya's Queue Point residences and Q-Line apartments, and Diamond Developer's Substainable City.
“Here, in Dubailand, there is so much potential to create the properties that our buyers have been asking for – there's more of a community feel, well-appointed public parks and facilities, and most importantly, convenience,” says Baroudi, of the district's central location, with both of the city's airports reachable within 15 minutes and the CBD in just ten.
Farhad Azizi, CEO of Azizi Developments agrees that new developments close to the CBD, but still within easy reach of lifestyle facilities, will be winners for investors and end users alike. His pick for Dubai's next hot market is Healthcare City, which as the name suggests, has a focus on state-of-the-art hospitals and medical facilities. With less space than anticipated allocated to healthcare, developers have turned their hand to creating residential developments within a prime location lauded for its proximity to the luxury Wafi Mall, the new Dubai Canal, and Downtown Dubai, supported by the steady traffic flow of Sheikh Zayed Road. Azizi's futuristic Aliyah Serviced Apartments, named for Azizi's niece, have had strong interest from buyers looking for upmarket apartments set in palm-fringed parks.
But Azizi admits that even brand new developments can still find themselves in the shadow of the Palm Jumeirah, Dubai's iconic man-made islands. Fortunately, he says, developers have gradually been given access to more of the island, with the drip-feed method keeping the property market steady and stable. Azizi Developments is one of the developers meeting the demand for Palm portfolios, with its latest launch, The Royal Bay.
“The Palm will always be a hot spot for Dubai, given it's such a spectacular, one-of-a-kind location. We will always see buyers here,” he explains. “The Royal Bay meets a demand from our luxury clients, offering sea view hotel apartments, with concierge, laundry service, and restaurants. It sells the hotel experience, but long-term, for residents who want to have the staff know them by name and provide that personalised service."
With slightly left-of-central locations such as Dubailand and Healthcare City creating their own buzz, and with the still-constant demand for property on the Palm Jumeirah, the Dubai property market is showing no signs of slowly down. As the city continues to steadily expand and welcome a growing population, there couldn't there be a better time to invest in a Dubai property portfolio.