Dubai - A Property Investor Guide
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Transcript of Dubai - A Property Investor Guide
Dubai - A property investor’s guide
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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
DubaiA property investor’s guide
Dubai - A property investor’s guide
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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
Buy, sell and invest
The largest exclusive portfolio of properties in Dubai
Call us on: +971 (0)4 3799904 • Email us at: [email protected] • Visit us at: www.carltonrealestate.ae
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Questions and answers with Carlton
Real Estate’s Managing Director,
Laura Adams.
What are the hot areas in Dubai that
foreigners are investing in for both
short & long term with a view of
buying to lease?
The most popular areas are the
established completed districts such
as Dubai Marina, The Palm and
Downtown as investors can be assured
of no void periods in rents as they
are all in high demand constantly by
tenants, figures show these areas have
averaged a 6.5% return on investment
for the past 2 years, compared with
London which average is between
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.
What areas represent high risk and
low risk investments?
Dubai is pretty much a low risk
investment as the market is led by
supply and demand and we are
fortunate enough to have a high
demand for properties.
Buildings in the majority of Dubai
are over 95% occupied (stats from
Reidin) for the past few years and
the simple fact is that there are not
enough properties handing over to
accommodate the rise in population.
For Example: The population in Dubai
grew by 100,472 people from 2011
to 2012 but there was only 11,061
properties handed over in the same
period (stats from Government of
Dubai, Statistics Centre).
Population since the beginning of 2013
to date has risen by an additional
80,000 new residents which is not in
line with the number of properties
available.
With the above in mind I would always
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
from completion as many experience
delays which in turn will delay any
return you will get.
Highlight the main reasons they are
drawn to these areas?
Mainly the appeal of appreciation
and rent return percentages of the
property prices which is due to
many factors as well as demand, the
amenities, views and accessibility of
the areas.
What types of investors would go for
these areas? What kind of budget
would they need?
For a one bedroom in Downtown
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.
An introduction to investing in Dubai
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What kind of financing is available
for investors?
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 –
350AED for Title Deed 1st year only
charge
• 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.
Appreciation for a unit like this in
the current market will see a rise of
anything between 15%-25% over 2-3
years.
Please note that the Landlord does
not pay the agency fees for the leasing
of the property in Dubai unless they
chose to get the property managed.
Globally, investors are looking
for strong yields. Would you say
emerging markets such as Dubai are
becoming increasingly popular due to
economic difficulties elsewhere in the
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
and get large percentage returns are
way gone and will never return as the
Investors that benefited from those
times also lost, heavily – Investing in
Dubai gives you a much better return
than your money sitting in any bank
and in the sustainable areas, if you
invest wisely, you will rarely lose any
percentage of what you have put in.
For more information contact
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Downtown Dubai is one of Dubai’s
newest addresses and can also
stake a claim for one of the city’s
most glamorous areas. High rise
apartments, many with views of the
Burj Khalifa and dancing fountains,
are surrounded by children’s play-
areas, attractive walkways and
coffee shops aimed at encouraging
residents to leave the confines of
their luxury pads.
This is the home of the iconic Burj
Khalifa, vast Dubai Mall, Emaar
Square and the Address hotel.
Shopping, dining and entertainment
options are therefore plentiful and
easily accessible. Community cafes,
pools, gyms and salons are also
situated within the Residences.
The area is located between Al Khail
Road and Sheikh Zayed Road so
reaching other parts of the city is
simple.
Who lives there?
Working professionals
Most expensive buildings:
Burj Khalifa, The Residences, Old
Town, The Address Lake Hotel
More affordable buildings:
The Lofts, 8 Bvld, Burj Views, Burj Al
Nujoom
To lease (prices in AED per year,
October 2013):
• Studio 60,000
• 1 Bedroom 85,000
• 2 Bedroom 120,000
• 3 Bedroom 185,000
• 4 Bedroom 380,000
To Sell (prices in AED per year,
October 2013):
• Studio 850,000
• 1 Bedroom 1,600,000
• 2 Bedroom 2,100,000
• 3 Bedroom 3,500,000
• 4 Bedroom 6,000,000
Downtown Burj Dubai
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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’s best known offshore
development offers apartments
and villas in one of the most highly
publicized locations on the planet.
Despite the drop in rents across the
city, properties on the Palm are still
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,
Ibn Battuta and Mall of the Emirates
are all easily accessible and the
spectacular Atlantis Hotel at the end
of the Palm has some high-end dining
options.
There are no schools on the Palm itself
but in nearby Al Soufah there’s the
Wellington International School and
the International School of Choueifat.
Pros:
Palm Jumeirah has to be one of
Dubai’s most exclusive addresses.
Many homes have private beach
access and there’s a good chance that
your view will be pretty impressive.
Cons:
Living on the Palm Jumeirah doesn’t
come cheap and apart from the
grocery stores, gyms and playgrounds
(and beaches, of course!) belonging to
each residential cluster there is very
little within walking distance.
Most expensive buildings:
Signature villas, high numbered villas,
Tiara Residence, Oceana
More affordable buildings:
Golden Mile Apartments, Canal Cove
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
• Signature 640,000
To Sell (prices in AED per year,
October 2013):
• One Bedrooms 1,300,000
• Two Bedrooms 1,800,000
• Three Bedrooms 2,500,000
• Penthouses 4,400,000
• Garden Home Villas 9,500,000
• Signature 15,000,000
The Palm Jumeirah
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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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MirdifMirdif is a popular choice for families
looking for affordable villas.
The location on the outer edge of the
city – beyond the airport - means a bit
of a commute into town but also that
accommodation is cheaper than some
more central areas.
Nearby:
Mirdif City Centre is the area’s main
shopping mall and there’s also Uptown
Mirdif – an outdoor precinct which is
home to a Spinneys, hairdressers and
various other useful outlets. Small
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.
Pros:
A peaceful, suburban respite from
the hectic city with good value
accommodation compared to some of
Dubai’s more central addresses.
Cons:
Mirdif is situated under Dubai
Airport’s flight path so aircraft noise
can be an issue.
Villas in Midiff can be brought only by
GCC’s.
JumeirahOnce the only, and traditionally
the most desirable and prestigious,
residential area in Dubai.
Jumeirah is the home of the legendary
‘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
the area. Social life revolves around
the beach, the cute local cafes and
the Souk Madinat & luxury Jumeirah
Beach hotels for licensed options.
Pros:
Peaceful streets provide safe areas
for children to play and much that the
area has to offer is accessible on foot,
and more importantly, situated on
roads that you’ll actually enjoy walking
down.
Cons:
Despite dropping rents, the area is
still relatively expensive. Many of the
villas are older, which gives them a
bit more character, but they can have
maintenance issues.
Villas in Jumeirah can be brought only
by GCC’s .
Emirates Living: The Springs, The Meadows & The LakesA development that incorporates
the gated villa communities of The
Springs, The Lakes and Meadows
with apartments available in The
Greens.
Popular with families, this is a massive
sprawling landscaped development
with good facilities, green open spaces,
children’s play areas, swimming pools
Dubai - A property investor’s guide
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and attractive tree-lined streets.
Nearby:
Each development has its own
community centre with supermarkets,
a gym, ATMs, beauty salons, laundry
services and a few basic dining
options. There are also shared pools
and recreation areas dotted around
each area. The communities are
situated between Al Khail Road and
Sheikh Zayed Road and are a short
drive from Mall of the Emirates.
Schools in the area are popular and
the waiting lists can be long. Options
include The Dubai British School,
Emirates International School and
Dubai American Academy.
Pros:
A slice of landscaped suburbia – the
gated communities provide a peaceful
escape from the busy, dusty city.
Children can play safely in the quiet
streets and parks and the general
quality of the accommodation is good.
Cons:
Dining and entertainment options with
the communities themselves are thin
on the ground and those who love a
bit of individuality may feel somewhat
subdued by the identikit nature of the
homes and streets.
Most expensive buildings:
The Meadows
Most affordable buildings:
The Springs
Prices vary between developments
contact [email protected]
if you wish for your property to be
valued or you want to buy in this
district
Dubai - A property investor’s guide
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Dubai Marina is the heart of ‘New
Dubai’ and the area of choice for
singletons, couples and those who
enjoy the high-life - literally.
This is a vibrant community populated
with modern, high-rise apartment
blocks and the Marina itself is a glitzy
man-made lagoon dotted with shops,
restaurants and cafes. Jumeirah
Beach Residence (known locally by
its acronym JBR) – is located on the
beach-side of the Marina.
Nearby:
Boutiques, restaurants, cafes, the
beach, Dubai Marina Mall – home
to a Waitrose – small hidden parks
and the stylish Yacht Club – the area
is now well-established and has
practically everything the young,
affluent population need right on
their doorsteps. One of the biggest
attractions (aside from the beach,
of course) is the ‘The Walk’ a lively
beachside pedestrian strip full of
independent shops, market stalls and
eateries.
There are no schools inside the Marina
apart from a few nurseries but the
Wellington International School and
the International School of Chouefait
are a short distance away by car or
school bus.
Pros:
Residents love the lively beach-side
lifestyle and the wide choice of leisure
and entertainment options. Easy
access to Sheikh Zayed Road makes it
simple to get to other parts of the city
and the area is a great choice for those
working in nearby Media City and
Internet City.
Cons:
Apartment quality varies greatly from
tower to tower so do your research
before committing to a property.
Roads leading to the Walk can be a
nightmare at weekends.
Most expensive buildings:
The original 6 buildings, The Address
Marina, La Rivera
More affordable buildings:
DEC Tower, Marina Diamonds, Dreams
To lease (prices in AED per year,
October 2013):
• Studios 60,000
• One Bedrooms 75,000
• Two Bedrooms 90,000
• Three Bedrooms 130,000
• Penthouses 250,000
To Sell (prices in AED per year,
October 2013):
• Studios 550,000
• One Bedrooms 700,000
• Two Bedrooms 1,100,000
• Three Bedrooms 1,350,000
• Penthouses 3,000,000
Dubai Marina
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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
Dubai - A property investor’s guide
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DeiraA popular area for those in search of
cheap rents, this is the heart of ‘old
Dubai’ and most buildings are several
decades old.
If you can look past the heavy traffic
and lack of parking, it’s a bustling,
atmospheric section of the city and
many a pleasant evening can be had
exploring the souks, heritage sites and
creek-side alleyways.
Nearby:
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-
owls will appreciate Deira’s lively café
culture. If you need your leisure-
time to be spent in more upscale
surroundings the Intercontinental,
Hilton and Sheraton Creek are all
close-by.
Pros:
Great for budget accommodation in an
area of the city which has retained a
feeling of ‘old Dubai’.
Cons:
The metro has definitely made Deira
more accessible but if you’re travelling
by car then don’t expect to get very
far during peak times. Parking is
also a challenge and women may feel
uncomfortable walking around some
areas at night.
Properties can only be purchased by
GCC.
Al BarshaAl Barsha is a safe and quiet area
filled with large, standalone villas
and some new apartment blocks
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
is becoming the preserve of families.
Nearby:
It’s just a quick hop to the mighty Mall
of the Emirates and many smaller,
independent outfits such as spas,
restaurants, salons & take-aways have
sprung up around the area. Residents
now have a green haven to escape to
with the opening of the long awaited
Al Barsha Pond Park.
Schools in the area include the Dubai
American Academy and Al Mawakeb.
Dubai College, Jumeirah English
Speaking School and Wellington
International School are also nearby.
Pros:
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
entertainment and for those with more
cultural leanings there’s the thriving
art community in Al Quoz.
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
construction activity dotted around
villas and compounds.
Properties can only be purchased by
GCC.
Dubai - A property investor’s guide
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Al Safa and Al Wasl are two quiet
residential areas close to Jumeirah
that are popular with families.
The area is populated with mostly
highly-priced villas (old and new) set
in established streets with traffic-
calming speed humps and ample
parking. There is traffic congestion at
peak times on Al Wasl road, but traffic
within the communities is rarely a
problem and kids can ride bikes and
play outside safely.
Nearby:
Al Safa and Al Wasl are very centrally
located; Jumeirah Beach Road with its
leafy sidewalk cafes and boutiques is
just down the road and Dubai Mall and
Mall of the Emirates are a short drive
away. The weekly shop can be catered
for at Spinneys Centre, Park & Shop or
Choithram which are all close by.
The areas have an abundance of great
nurseries and local schools include
Jumeirah English Speaking School,
The English College and Jumeirah
College.
Pros:
Peaceful, pretty and very well situated.
Easy access to Sheikh Zayed road
provides a quick route to Dubai’s hot
spots and key locations.
Cons:
Al Wasl Road can sometimes get
congested. Older villas may experience
a few maintenance issues.
Properties can only be purchased by
GCC.
Al Safa and Al Wasl
Dubai - A property investor’s guide
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Emirates Hills is a gated community
that has been named after Beverly
Hills.
Emirates Hills is largely home to
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
and open to anyone to purchase,
the majority of owners hail from the
Indian subcontinent, Iran and Western
Europe.
Although the developer, Emaar
Properties, pioneered the idea of
freehold property in Dubai, this is
Emaar’s only project where land was
sold per square foot to individuals to
build the house of their choice. Over
time, all the plots were sold. Some
of the residents included the late
Benazir Bhutto (although her family
still lives there), the manager of Géant
Middle East (Mohammad Shaikh),
and the owners of the Middle East
Broadcasting Center and Habib Bank.
Emirates Hills properties look out over
the fairways of the Montgomerie[1],
an 18-hole Championship Golf
Course created by architect Desmond
Muirhead and seven-time European
Order of Merit winner Colin
Montgomerie.
Nearby:
Mall of the Emirates, Dubai Marina,
Pros:
Peaceful, pretty and very well situated.
Easy access to Sheikh Zayed road
provides a quick route to Dubai’s hot
spots and key locations.
Cons:
The price.
Villas as made to the owners own
specification so all vary in size, design
and décor.
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
Emirates Hills
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Arabian RanchesArabian Ranches is an enclosed,
all-villa community with lush desert
landscaping and an equestrian theme
situated several miles out of town.
The luxury 2 to 6 bedroom villas &
townhouses are set among greenery,
lakes and the Arabian Ranches Golf
Course. Swimming pools, barbeque
areas and tennis courts are also dotted
around the community.
Nearby:
This is a self-contained development
with pretty much all you need right
there on your doorstep. You’ll have
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
Dubai Polo & Equestrian Club also give
residents a few other social options.
The Jumeirah English Speaking School
is the community’s only educational
establishment but the schools in Al
Barsha and Emirates Hills are not too
far away.
Pros:
Unlike many of Dubai’s more transient
areas, there are many owner-occupied
properties here so the community has
a well-established neighborhood feel.
If you’re at home in ‘suburbia’, you’ll
feel very settled here.
Cons:
Despite the easy access to Emirates
Road and E611, it’s still a bit of a trek
into town. Traffic on these roads can
be extremely heavy at peak times and
when concerts and events are held at
the Dubai Autodrome next door.
To lease (prices in AED per year,
October 2013):
• Two Bedroom Villa – 140,000
• Three Bedroom Villa – 160,000
• Four Bedroom – 225,000
To Sell (prices in AED per year,
October 2013):
• Two Bedroom Villa – 1,900,000
• Three Bedroom Villa – 2,200,000
• Four Bedroom Villa – 3,500,000
Bur DubaiDubai’s ‘concrete jungle’ and the
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
good facilities.
The area is old by Dubai standards
and has a real street scene which
is lacking in the city’s other
neighbourhoods.
Nearby:
Bur Dubai is well-served by
supermarkets with two Spinneys, a
Union Co-Op, a Choithram and a huge
Carrefour all within reach. There are
numerous budget options for eating
out and expat-favourite Waxy’s can be
found in the Ascot Hotel.
There are no schools in the immediate
vicinity but Bur Dubai is very central
and plenty of Dubai’s top schools are
within a short traveling distance.
Pros:
The area has a good ‘buzz’ at any
time of day and accommodation is
affordable for those on a budget.
Cons:
Bur Dubai suffers from heavy traffic,
limited parking and apparently never-
ending 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
17
Festival CityLow-rise apartment blocks and villas
in one of Dubai’s newest commercial,
retail and residential developments.
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:
The area really does cater for
everyone – the only thing missing is a
nearby beach. It’s a great location for
anyone who wants or needs to be close
to the airport.
Cons:
It can feel a little remote at times and
it’s definitely a bit of a trek from New
Dubai. Traffic in Garhoud can be a
problem at peak times.
The Green CommunityThe 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
children & parents can be found
making good use of the green spaces
and cycle paths in cooler months.
A family environment with good
shopping and leisure facilities but
situated some distance from Dubai.
Nearby:
Green Community is situated within
the Dubai Investment Park area
which is some 40km from old Dubai.
The community’s Marketplace
has a number of retail outlets, a
Choithram and there are a host of
pretty restaurants and cafes around
a lake. The nearest mall, Ibn Battuta
is a 15 minute drive and Dubai
Marina with its numerous leisure and
entertainment options is a similar
distance away.
The Greenfield Community School can
be found within the Dubai Investment
Park and there are also various
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:
The Emirates Road roundabout
outside the Dubai Investment
Park/Green Community area is an
ongoing source of pain for residents.
Nicknamed hE11 circle by those that
have to use it regularly, traffic can be
held up for considerable lengths of
time at peak hours.
To lease (prices in AED per year,
October 2013):
• Studios 50,000
• One Bedrooms 70,000
• Two Bedrooms 130,000
• Three Bedroom Villa – 220,000
• Four Bedroom Villas – 245,000
Dubai - A property investor’s guide
18
To Sell (prices in AED per year,
October 2013):
• Studios 500,000
• One Bedrooms 900,000
• Two Bedrooms 1,950,000
• Three Bedrooms 2,500,000
• Four Bedroom Villas – 3,700,000
International CityLocated at the intersection of the
Emirates road and Dubai-Hatta
road, International City is an out
of town low-rise apartment block
development that boasts some of the
cheapest rents in Dubai.
The neighbourhood is divided into
clusters named after different
countries and each cluster has its
own ‘theme’. It’s a bit soulless but
still remarkably good value for money
for those who don’t mind being some
distance from Downtown and New
Dubai.
Nearby:
The area has its own selection of
barbers, grocers, restaurants etc and
it’s adjacent to the massive Chinese
discount market, Dragonmart.
Pros:
Decent, one bedroom apartments and
studios are readily available here at
rents lower than almost any other part
of the city. If you’re a Dragonmart fan
and are on the look-out for a bargain
home then this is place for you.
Cons:
There is a waste dump nearby so
there can sometimes be a certain whiff
in the air if the wind is blowing the
wrong direction. Pavements and ATMs
are few and far between and the area
is definitely a little out of the way of
Dubai’s main action.
To lease (prices in AED per year,
October 2013):
• Studios 30,000
• One Bedrooms 38,000
• Two Bedrooms 45,000
To Sell (prices in AED per year,
October 2013):
• Studios 330,000
• One Bedrooms 420,000
• Two Bedrooms 650,000
Dubai - A property investor’s guide
19
Also known as JBR, Jumeierah Beach
Residence is a 1.7 kilometres (1.1
mi) long, 2 square kilometres (0.77
sq mi) gross floor area waterfront
community located against the
Persian Gulf.
It is the largest single phase residential
development in the world and contains
40 towers (36 are residential and 4 are
hotels). JBR can accommodate about
15,000 people, living in its apartments
and hotel rooms. The Project has
6,917 apartments, from 900 sq ft
studios to 5,500 sq ft penthouses.
The developer, Dubai Properties (a
subsidiary of Dubai Holding), launched
JBR in August 2002. This 6 billion
dirham project was completed in 2007.
“The Walk at JBR” restaurant and
shopping strip, which is adjacent to the
beach behind JBR, is a very popular
location for Al Fresco dining.
To lease (prices in AED per year,
October 2013):
• Studios 70,000
• One Bedrooms 85,000
• Two Bedrooms 105,000
• Three Bedrooms 145,000
• Four Bedrooms 240,000
• Penthouses 450,000
To Sell (prices in AED per year,
October 2013):
• Studios 950,000
• One Bedrooms 1,300,000
• Two Bedrooms 1,650,000
• Three Bedrooms 2,200,000
• Four Bedrooms 2,600,000
• Penthouses 4,500,000
Jumeirah Beach Residence (JBR)
Dubai - A property investor’s guide
20
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
Dubai - A property investor’s guide
21
Jumeirah Lake Towers is a huge
development which consists of a 79
towers being constructed along the
edges of four artificial lakes (Lake
Almas West, Lake Almas East, Lake
Elucio, and Lake Allure) as well as
the JLT Embankment of 8 tower
facing Jumeirah Islands.
The lakes (which are about 3 metres
(9.8 ft) deep) will be completely filled
by end of 2009.[1] The total area
covered by the lakes, waterways and
landscaping will be 730,000-square-
metre (7,900,000 sq ft). The towers
will range from having 35 floors to
having 45, except for the centerpiece,
which is 66 floors. The tallest tower
and the centerpiece of the entire
complex is Almas Tower which will
be situated on its own island between
Lake Almas West and Lake Almas
East. All residential towers will be
placed in clusters of three. This
therefore makes the areas easier to
navigate when mail is distributed.
The completion of Saba Tower in
December 2006 marked the first tower
to be completed in Jumeirah Lake
Towers. The final tower is expected to
be completed in 2011. The majority of
construction will take place in 2008.
By April 2011, over 80 per cent of the
towers in JLT had been completed.
While the entire development is
expected to be completed in 2014
To Sell (prices in AED per year,
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):
• Studios 50,000
• One Bedrooms 65,000
• Two Bedrooms 85,000
• Three Bedrooms 100,000
Jumeirah Lake Towers (JLT)
Dubai - A property investor’s guide
22
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 Community Centre 900.00 200,000
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The largest exclusive portfolio of properties in DubaiCall us on: +971 (0)4 3799904 • Email us at: [email protected] • Visit us at: www.carltonrealestate.ae
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