02.04.2024 12.04.2024 257 0 0
In terms of profitability of investments, Dubai real estate has long been one of the most profitable in the world. At the same time, experts have no doubt that the local market will continue to develop – and even reach record levels by the end of the year.
But where exactly to invest the money? Which sections of the city are better suited? We have studied the opinions of many real estate experts and compiled a list of areas that are recognized as profitable by all experts. We also collected information about average real estate prices and promising off-plan projects in each of them.
Downtown Dubai: Huge demand
Dubai’s business center is one of the most popular places for both moving and investing. When wealthy foreigners come to the metropolis, most often they choose to live here. In addition to everything necessary, there are several unique facilities in the local infrastructure: the world’s tallest skyscraper Burj Khalifa, the Dubai Opera, the huge Dubai Mall.
As a result, Downtown Dubai is one of the most prestigious areas with a large selection of expensive real estate. It has some of the highest housing prices and one of the most impressive rental yields in the UAE.
| Type of property | Minimum area | Starting price, AED |
|---|---|---|
| Apartments | 42 m2 | 675 000 (183 000 $) |
| Penthouses | 180 m2 | 4 000 000 (1 090 000 $) |
| Villas | 240 m2 | 5 000 000 (1 360 000 $) |
As of June 2023, Downtown Dubai has several thousand apartments to choose from, about a hundred penthouses and very few villas. This is a characteristic feature of the area – the demand for luxury real estate here always outstrips the supply. But those who manage to buy a detached house will definitely be able to resell it for more in the future. And the view from the window of one of the local attractions will significantly increase the amount of rent if you plan to rent out the property.
Notable projects include The Oasis, an expensive residential complex with coastal villas and mansions. You can choose from layouts of houses with 4 or 5 bedrooms priced from 8 million AED ($2.18 million). The community will occupy approximately 1.5 million m2 and will boast rich landscaping, water channels, jogging and walking paths.
Business Bay: the fastest growing
Almost everything that can be said about Downtown Dubai applies to Business Bay. This is also a popular area with a developed infrastructure among the wealthy public. What are the differences?
Experts agree that Business Bay is the fastest growing area of Dubai by the end of 2022. It is possible that he will retain his leadership in 2023. This is facilitated by the fact that several of the most high-profile and expensive construction projects are being built here.
The headquarters of many large companies are located in Business Bay. Therefore, the demand for rent is very high here: foreign workers want to live near the office.
| Type of property | Minimum area | Starting price, AED |
|---|---|---|
| Apartments | 30 m2 | 520 000 (142 000 $) |
| Penthouses | 149 m2 | 3 900 000 (1 060 000 $) |
| Villas | 180 m2 | 2 000 000 (540 000 $) |
The choice of real estate in Business Bay is much more diverse than in Downtown Dubai. On the secondary market, you can find both small cheap apartments and the most expensive penthouses in the emirate.
The most notable project for today is the Bugatti Residences branded skyscraper, which is also called Sky Mansions. Here you can find the most expensive property in the UAE today: a penthouse worth 750 million AED ($204 million). The project should be completed by the fourth quarter of 2025.
Other notable projects:
- Burj Binghatti Jacob & Co Residences is an elite residential complex, the tallest residential skyscraper in the world (104 floors), which will be completed by the second quarter of 2026;
- Al Habtoor Tower is a skyscraper (the first of three) in the new residential area of Al Habtoor City, which is promised to be completed by the third quarter of 2026.
Dubai Marina: expensive accommodation by the water
The area is located on the banks of an artificial canal with a 3.5 km long embankment. Another feature of Dubai Marina is its many restaurants, bars and a wide variety of entertainment, including yacht clubs. At the same time, the location of the community allows you to quickly get to any part of the city.
Despite the high demand, there are few new construction projects here – hence the rise in housing prices and the ever-increasing cost of rent. And given the new trend for houses and apartments in the coastal area, demand in Dubai Marina will continue to grow for a long time.
| Type of property | Minimum area | Starting price, AED |
|---|---|---|
| Flat | 30 m2 | 540 000 (147 000 $) |
| The Penthouse | 95 m2 | 3 350 000 (910 000 $) |
| The Villa | 232 m2 | 3 400 000 (930 000 $) |
Among the notable projects, there are at least 3 elite residential complexes. First of all, this is the Cavalli Tower, a branded residential complex of the Italian brand Roberto Cavalli. The price of the property starts from 1.7 million AED ($460,000), and construction should be completed by the fourth quarter of 2025.
Two other large residential complexes:
- LIV LUX is a project with prices starting from 1.8 million AED ($504,000), which will be completed by the fourth quarter of 2026;
- Marina Shores is a project with real estate prices starting from 1.5 million AED ($410,000), it is also planned to be completed by the fourth quarter of 2026.
Palm Jumeirah: an elite island
Palm Jumeirah is one of the most unique places in Dubai. This is a man-made island in the shape of a palm tree crown (hence the name), which has long been one of the most popular locations among wealthy migrants.
The luxury real estate sector in Palm Jumeirah is the most active. The above–mentioned trend for houses by the water has increased demand and spurred supply – nowhere in Dubai is there such a large number of coastal mansions and villas. All this is complemented by a well-developed infrastructure with a lot of shops, services and entertainment.
| Type of property | Minimum area | Starting price, AED |
|---|---|---|
| Apartments | 29 m2 | 950 000 (259 000 $) |
| Penthouses | 155 m2 | 6 000 000 (1 630 000$) |
| Villas | 169 m2 | 7 600 000 (2 070 000 $) |
Among the most notable off-plan projects are Como Residences, which is planned to be completed by the third quarter of 2027. In a 71-storey skyscraper, you can find apartments with the number of bedrooms from 2 to 7. The area will also be diverse: from 415 m2 to an incredible 2,039 m2. The developer also promises a unique internal infrastructure – for example, an exclusive beach for residents only.
Jumeirah Lake Towers: affordable housing in high-rise buildings
The name of the district reveals its layout: these are several skyscrapers located on the shores of artificial lakes. Despite the proximity of Downtown Dubai and Dubai Marina, the prices at Jumeirah Lake Towers can pleasantly surprise: there are not only expensive housing, but also very affordable options. The wide range of costs has made JLT popular and led to an increase in rents – it increased by 27% in 2022.
Convenient transport accessibility can be noted: there are 2 metro stations nearby. At the same time, many popular attractions can be easily reached on foot.
| Type of property | Minimum area | Starting price, AED |
|---|---|---|
| Apartments | 30 m2 | 400 000 (109 000 $) |
| Penthouses | 160 m2 | 2 250 000 (610 000 $) |
Of the off-plan projects, Sobha Verde can be singled out, which should be completed in the first quarter of 2026. This skyscraper will have 58 floors and a large selection of one-, two- and three-bedroom apartments.
Real estate in any of the above areas can be a profitable investment – prices here will definitely continue to rise, and high rents will ensure a good return on investment. Most experts advise paying attention to the off-plan project market, which is able to ensure maximum profit.
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