Property in Downtown Dubai
If you are planning to get a high-end residential or commercial property in Dubai, Downtown would be the perfect location. The heart of the city, Downtown Dubai is a unique mix of planned commercial zones and residential towers, and the area is flourishing every day. Being a tourist hub, this section of the city also has several world-class hotels including Emaar’s flagship Vida, Address, and Manzil hotels as well as the first Armani Hotel in the world.
Nicknamed as the “The Centre of Now” in one of the world’s most luxurious cities, Downtown Dubai is popular among young professionals, foreign investors, and businesspeople who are looking for excellent opportunities in their respective fields, great commute links to the other important parts of the city, and a vibrant and exciting lifestyle.
At the center of Downtown Dubai, you will find the world’s tallest building, Burj Khalifa, the world’s largest shopping mall and entertainment destination, The Dubai Mall, and the world’s tallest performing fountain, The Dubai Fountain. The majestic Dubai Opera, a 2,000-seat multi-format events venue, is the prime highlight of the Opera District. Several new luxury hotels and residences have been added to this elegant mix.
New development projects such as the Opera District and innovative systems such as the Dubai Trolley keep Downtown Dubai exciting. That is why investors from around the world come here for life changing opportunities.
Why should you consider Downtown Dubai for property investment?
Downtown Dubai may be all about glitz and glamour, but it is also dotted with little pockets of green that give it an urban community vibe. Here, you will find some of Dubai’s most prominent structures, beautifully landscaped promenades, and pedestrian-friendly walkways. The community also comprises of several commercial properties and numerous residential properties. That means investors have a lot to choose from. If you need more reasons to choose Downtown as the location for your investment, here are a few that should compel you:
If you buy or rent a home in Downtown Dubai, you will get to wake up to unbelievable views of Burj Khalifa or The Dubai Fountain. On the other hand, having a commercial property in one of the prime locations in the area such as The Dubai Mall would mean being part of the great view. If you want your surroundings to look and feel lavish, this is the ideal spot for you.
You have not experienced luxury in its truest sense until you have stayed in Downtown Dubai. Here, you will find large and spacious apartments that are intelligently designed, keeping the comfort and luxury of the residents in mind. Most of these apartments come with airy rooms, built-in kitchens, and balconies that offer breathtaking views of the city. The size and features of these apartments vary from one building to another. So, some apartments even come with en suite bathrooms, separate guest rooms, and storage rooms. Residents also have access to gym, luxury pool, kids play area, barbeque spot, and conference room.
Whether you rent or buy a commercial or residential property in Downtown Dubai, you get to experience the city’s scintillating nightlife and fine dining options. There are countless bars, clubs, and fancy restaurants to choose from. Whether you want to spend a casual evening or a special occasion, you will be spoilt for choices here in Downtown Dubai.
Excellent transportation network:
Getting around in Dubai is fairly easy and convenient thanks to the great transportation network. Downtown is connected to all the major parts of the city. There is the Burj Khalifa/ Dubai Mall Metro Station that makes it super easy to go from point A to Point B. The Emirates Towers Metro Station is nearby, and you can also find trams or Dubai Trolley at Sheikh Mohammed Bin Rashid Boulevard.
Prominent real estate projects in Downtown Dubai
From what we have discussed so far, you can already guess that Downtown Dubai is an investor’s paradise. Renowned developers from around the UAE and the world have chosen Downtown Dubai for their projects. With many new and exciting development projects being launched, this area is going to receive a lot more attention in the coming years. Here are a few prominent real estate projects in Downtown Dubai.
The Dubai Mall:
If you are looking for commercial real estate at a prime location to open a retail store, there is no better place than The Dubai Mall. Some of the most renowned brands in the world have opened retail outlets at The Dubai Mall. Having a store among these famous domestic and international brands could mean a huge boost for your brand. With the help of the right real estate company, you should be able to acquire a commercial real estate at the world’s largest mall.
Emaar Grande Signature Residences:
Currently in development, Emaar Grande Signature Residences is going to have 2 BHK, 3 BHK, and 4 BHK units. According to the development plan, the units are going to be anywhere from 1,137 square feet to 2,688 square feet. The property is going to have a range of facilities and amenities including 24×7 security, children’s play area, lifts, and Earthquake Resistant Structure. Possession of the units will be given from February of 2023. If you want to grab one before all the units are sold out, contact a reliable real estate agent and get a quote.
Emaar Vida Dubai Mall:
Another exciting project by the Emaar Properties, Vida Dubai Mall is going to offer 1 BHK, 2 BHK, and 3 BHK apartments. This residential project is currently under development, and you may be able to get an off-plan unit for an attractive price if you try now. The units are going to vary in size, and they may be anywhere from 678 squre feet to 1,971 square feet. The gated community will have lifts and gyms among many other contemporary amenities. Possession of the units will be given from January of 2023.
Elite City Downtown:
Elite City Downtown, a residential project taking place in Downtown Dubai, is going to be available for possession from December of 2021. It is going to offer 1 BHK, 2 BHK, and 3 BHK units which may be anywhere from 990 square feet to 1,600 square feet. Residents of Elite City Downtown will have access to high-end amenities such as steam room, sauna, power backup, gyms, and much more.
What you must consider when investing in Downtown Dubai
As an investor, your status is bound to increase if you get a property in Downtown Dubai. However, when it comes to your investment portfolio, you need to think about a lot more than status. Whether you are planning to buy or rent a residential or commercial property in Downtown, make sure you consider the following aspects.
Downtown Dubai is always growing, which means there are new construction projects taking place at every corner of it. It is true that new and exciting developments attract more investors, and in turn, increase your property value. However, if you are not thinking about resale value at the moment, you may want to think about the other ways new developments may affect you. For example, a new building next to your property may block the view. So, before making the final decision, find out how the empty lot next to your property is going to be used.
Getting the right price:
Whether you rent or buy a property, just remember that real estate in Downtown Dubai is expensive. However, that does not mean you should get ready to be ripped off. With the help of an experienced investment advisor and real estate agency, you should be able to get good rates. The professionals will help you find out if the time is right. If the market is hot right now, property prices are sure to skyrocket. Investing during a market downturn will get you attractive rates.
Choosing the right building:
When you have decided to get a property in Downtown Dubai, make sure you do your due diligence in finding the best building. When choosing the ideal building for your property, you should look at the reputation of the developer, age of the building, design and specification, and facilities offered. Considering how posh Downtown is, you are likely to find high-profile buildings only. It still make sense to do your research and comparison.
Return on investment:
If you are planning to get a real estate property in Downtown Dubai strictly as an investment vehicle, you cannot ignore a crucial factor, and that is ROI or return on investment. If you buy a property and put it on rent, you may be able to generate a significant cash flow. However, if you are planning to sell the property for a profit, it may not go as you planned. Dubai’s real estate market offers an average yield of 7 percent. However, when it comes to Downtown, the return on investment tends to be significantly lower than other areas of the city such as Jumeirah Lake Towers, Dubai Marina, and Jumeirah Village Circle.
Investing in real estate of Downtown Dubai can be a great idea. However, make sure you consider all the aspects and choose a property carefully.