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


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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

mailto:[email protected]

http://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

[email protected]


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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.


Signature villas, high numbered villas,

Tiara Residence, Oceana


Golden Mile Apartments, Canal Cove

villas, Marina Residence


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


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.


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


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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.


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


11

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.


The original 6 buildings, The Address

Marina, La Rivera


DEC Tower, Marina Diamonds, Dreams


October 2013):

• Studios 60,000






October 2013):

• Studios 550,000





Dubai Marina


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Properties currently for sale in Dubai Marina with Carlton Real Estate.


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


13

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.


GCC.


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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.


GCC.

Al Safa and Al Wasl


15

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.


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.


October 2013):

• Two Bedroom Villa – 140,000

• Three Bedroom Villa – 160,000

• Four Bedroom – 225,000


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.


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.


October 2013):

• Studios 50,000



• Three Bedroom Villa – 220,000

• Four Bedroom Villas – 245,000


18


October 2013):

• Studios 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.


October 2013):

• Studios 30,000




October 2013):

• Studios 330,000




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.


October 2013):

• Studios 70,000




• Four Bedrooms 240,000



October 2013):

• Studios 950,000

• One Bedrooms 1,300,000



• Four Bedrooms 2,600,000


Jumeirah Beach Residence (JBR)


20

Below are some properties that Carlton Real Estate currently have for sale in JBR.


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


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


October 2013):

• Studios 460,000





October 2013):

• Studios 50,000




Jumeirah Lake Towers (JLT)


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

23

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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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