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Investing in a rental property

Investing in a rental property means obtaining a house or a commercial space for the purpose of generating revenue in the form of rent. Without a doubt, rental property investment is a great way to generate monthly cash flow for beginners. But, on the flip side, many investors find it very challenging to maintain due to miscellaneous expenses like renovation works and taxes, property market gaps, and property management. In contradiction of how books and conventional wisdom try to tell, investing in real estate for a passive income is not easy, in fact, it is one of the most time-consuming forms of real estate investments.

Is rental property a good investment

Should it be a good investment to buy a rental property? Mostly yes. Real estate is a capital making machine that has been there for centuries. The rather common method of the same kind of investment is “buy and hold” or more known as buying and renting out to pay down the mortgage every month. Basically, buy and hold investors build wealth with some cash for the initial installment of any type of property then recompense monthly payments from their rental incomes. One of the advantages is that during the time, principal balance of the mortgage payment is decreasing and it’s increasing the equity. It generates income while it offers tax benefits and growing a capital from price appreciation for years.

Buying rental property is one of very few practical investment in a sense you can live in or opt for renting to produce passive income. You can also sell the property at higher price than your investment to make a larger income, if you make a correct decision and analysis. To get the optimal result, one needs to get priorities checked and decide how much time to devote to the endeavor and decide whether he can solve the problems on own. One must know all the risks associated to rental property and know other ways on how to monetize the rental property. There is a lot more than just mortgage expenses to take into an account. It is important to know the two types of appreciation- rental and property value, and how it affects the rental property investment.

Turnkey rental properties

Turnkey rental properties is an approach to buy a fully setup property that is ready to live in or rent out. This is a highly appealing method perfect for investors who prefer hands off property management and to enjoy the investment returns without obligations to a various sort of work. A third party property management company, like Texture Properties will be wholly responsible for the property management that the owner no need to be involved in anything from renovations to market research. The Property Management company will be resolving the tenants’ issue, maintenance job and even collecting the rentals on time. This approach could pose many advantages besides getting the business done smoothly for the first time investors who might not be able to see the profitability of their property.

Investing in real estate rentals is not a get rich quick arrangement, it requires time and knowledge of certain deals. As we analyze the deals carefully, and ensure to perfect it, the real estate becomes a solid long-lasting business. Good education in the field and good source of information up to date would save from making a critical mistake. Bear in mind, it is hard to operate solo, therefore building a network or finding a partner is a great way to jump start. Learning from the experienced ones or finding a mentor is one of the vital steps you can take in gathering information. Get engaged into community portals or groups of buying rental property in Dubai to gain more elaborated information.

First step to take upon purchasing a property for rental purpose is to simplify the process of generate a second income, which otherwise can eat up a lot of time for doing things that’s not worthwhile to devote. Rental property company will do all the heavy lifting in such to avoid spending further expenses or precious times. The property management company will guide you from buying a rental house to renovate and manage and lastly how to deal with tenants and contracts properly by certain strategies.

Next step is to do plenty of market research to find out the suitable area or community to invest in- that is the best within budget and best yield of return assured. However, most of good property management companies already know the best spots of the market with their extensive research and expertise. These companies should advice when and where to invest in which market for more sustainable investments. It immediately saves client’s plentifully money as well as energy from finding properties that are well located and physically sound in a market where development is heading.

Property management companies purchase properties in bulk including REOs (a property belongs to a bank when it fails to be repaid or a sale) with good prices. They close deals quickly with cash and usually better at pricing. Also they have their own renovation team perhaps do the maintenance costs less than regular costs.

Lastly, to manage multiple properties in a proper way, one need to hire professionals such as brokers, contractors, accountants, loan officers, attorneys, etc. to name a few, which is then difficult for an investor to do on his own. Instead it, a property management providers have on-going associations with these professionals, which ensures that property is ran in the most sufficient way. Besides, all the advantageous assistance property companies could provide to a client, one last important note is that they can help the client with financing as well, exploiting good relations with financial institutes as well as Banks.

Final Word

Being realistic in the expectations is important. A rental property isn’t going to harvest a high yield and monthly paychecks right away, especially if it’s the wrong property in a less appealing community could be a catastrophic mistake. Therefore, it’s best to always consult a professional if you are a first-time investor in the area. If you are interested in rental income, Texture Properties is happy to consult you in any manner with expertise.

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Is it better to rent or buy a house as an expat in Dubai

A prevailing hot subject for many people whether they are relocating or not relocating is that if it’s the time to buy or keep renting. Especially, if you are an expatriate, according to a recent study 30% of your salary goes to be spent on renting accommodation. Most expatriates in their first year of assignment, due to uncertainty, opt for renting right away. Particularly, when ex-pats come to a new country they must settle in somewhere before jumping to a grand calculation of buying a home, or at least they need six months of residing before they can apply for a mortgage in most of the countries around the globe.

There are several factors to consider to make a such decision, some of the factors include market volatility, financial options, and of course the length of the stay in the foreign country. Perhaps the biggest factor to date for evaluating buying vs renting a home is the number of years to commit in the place and the job stability. Committing to paying a mortgage for an extensive period of time with some uncertainty is extremely inconvenient. On the other hand, a low level of effort and flexibility are the main advantages of renting a home instead of purchasing for ownership. Owing to these somewhat obstacles of buying a property, rental demand goes notably higher amongst ex-pats and consequently equation produced as if what is used for the total installment of buying to own a house in Dubai becomes almost as same as renting it for a few years.

In case, where one decides to become an owner of a property, first, down payment which is usually 15%- 25% of the total price has to be cash borne for the buyer not to even include other fees such as commissions and administrative fees. If this cost is easily funded by the buyer, in a long term, good thing is that not only will the buyer become a proud owner but also able to rent it out as soon as the contract is issued- therefore able to generate return of investment immediately.

Now this may sound like a YES to buying a property. Many property experts say “If you can afford it, buy it”, unfortunately, this assertion is quite misleading and doesn’t have to be true all the time especially market is not mature yet. Real estate is a great investment when the market goes up steadily every year or every 5 years – equilibrium line to coup up the costs, provided that other aspects are little. Unfortunately, the market doesn’t continually grow and losses happen if the owner has to sell the house during the down time. It is far greater loss than gaining any profit from the money from just saving in the bank.

Another factor is the flexibility matter when assessing buying vs renting an apartment or a villa. A rental contract is usually for one year what has it been witnessed through past years in Dubai is which there is no sign of contract on most of the leases if someone sublease an apartment. This gives a tenant likelihood of flexibility to change the apartment anytime with any reason to move somewhere else, while, the owner would not find it straight forward to change the locality or the place if they don’t like it.

To calculate and discuss about property payment and what’s underlying with it one must have the first installment 20% percent of the desired house value in cash, plus additional 8% for various fees of handling charges. There is a service charge for the property every year as well for some of properties. When we want to break down the actual payment analysis, we assume the period of Return of Investment as 5 years. With the mortgage of 25 years (as average) and mortgage interest rate is 2.7%. (on average). Let’s say yearly rent is AED 96,000 and total cost of the property is AED 1,100,000 and down payment is 20%= AED 220,000 and tenancy plan of 5 years. While calculated the buying fees, note there is an agent fee (AED23,100), land department fee (AED 44,580), registration trustee fee (AED4,200), mortgage valuation fee (AED3,150), mortgage processing fee (AED4,620), mortgage registration fee (AED 2,200) and knowledge fee (AED 290) all included in the total buying cost. To calculate the cost of renting, we add one-time agent fee and Ejari fee on top of the rental fees. When we do the calculation, total buying cost over 5 years is AED 324,420 and total rental cost equals to AED 486,015, which implies it’s 33% cheaper to buy the property than renting when the tenancy is over 5 years or more.

Financial Considerations

If one wants to buy his own property, he might have to apply for a mortgage unless he wants to pay the whole amount in cash. When it comes to the down payment of purchasing a property the maximum LTV (loan to value ratio) for expats is 75% as per UAE Central Bank Guidelines, if property’s value is under AED 5Mil. and it’s their first mortgage. If the value is higher than AED 5 Mil. LTV could go down to 65%. Then, expats need to pay an interest on the loan amount, also, there is some service charge paid to the management of the building. Not to mention that, there is still small costs for maintaining the property to fix damages if there is any.

In Conclusion,

There could be a number of other reasons affecting the decision to buy over renting, or vice versa, based on nature and circumstances only the buyer will decide what is better to do. In the Dubai context, the rules and regulations are almost changing every day, Dubai residency policy is shifting to the favor of expats. Many are on the fence while comparing buying vs renting in Dubai, home prices hit the low in 2021, which implies now is very much the time. Nevertheless, uncertainty and lack of information could arise a drawback, therefore, always consult this through with licensed professionals in the field.

If you are looking for a home in Dubai, regardless of where you land on the rent vs buy decision, TEXTURE is happy to give you a professional consultation. Call us at Toll-Free 800-TEXTURE or drop a WhatsApp message at:  +971-50-8091186.

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Luxury apartments in Dubai

The luxury properties market, in other words, the prime properties market by definition is the first-class real estate market that usually includes the top 5 percent of the entire market within any major city or in the world. Dubai has the second largest number of prime properties (42,356) worldwide, following London, the winner by 68,189 in the number of properties, and followed by Sydney, Hong Kong, and Singapore.

Dubai’s apartments are known as luxury archetype. The emirate is reputable for its various top-notch properties and deliberately named as a luxury real estate destination.

Dubai’s luxury residential market had a tough year during Covid-19 breakout, thus slowly recovering from the initial slope. In fact, costs of apartments and villas on Palm Jumeirah, for example, has started showing an increase by 3 per cent since then. The total number of transactions of prime properties market have shrunk based on data form the Dubai Land Department since 2019 to date. The great World Expo was projected to fuel the city’s economy by drawing millions of investors and visitors to the city. However, the event is planned to be hosted between Oct 1 2021 and March 31 2022, awaited to deliver much-needed foreign investment to the property market. 

During the same period, luxury villas markets such as Emirates Hills and Downtown Dubai are also exposing some signs of improvement in market performance. Although, the pandemic and expo’s postponement halted the high end developments while led the prime market into a slump, several projects are successfully finishing in preparation to the highly anticipated Expo.  

6 top luxury projects in Dubai

Madinat Jumeirah Living

The stunning Madinat Jumeirah Living is the first freehold luxury apartments revolved around modern architecture, well-accessible roads and unique infrastructure for the comfort. The vibrant community contains contemporary apartments with generous layouts, mighty amenities, and designer made lobbies which never fails to complement the branding it brings amidst the Burj Al Arab. The environmentally friendly residentials, nestled with lush greenery within a Dubai’s hotspot, aimed to provide utmost luxury proposes 1- 4 bedrooms selections. The visual delightful neighborhood offers safety, serene spaces and fast access to the Dubai’s other landmarks. It’s truthfully an all-inclusive living experience in Dubai. The prices of one bedroom in Madinat Jumeirah Living starts from AED 1.4Mil spanning 876 sq ft. space.

City Walk

Meraas’s City Walk is where the city’s creativity filled culture takes its root. The project composes urban and posh infill easily connected to the Downtown district and the iconic Burj Khalifa. Low-rise residentials of City Walk developed by Meraas have featured 1 to 4-bedroom apartments that are designed for high end buyers. Selling prices of 1-bedroom apartments minimum start from AED 1.2M to spacious 4-bed luxurious apartment which cost up to AED 11M. Projects are mostly on the rentals currently though represents most iconic luxury apartments for rent in Dubai.

Bluewaters Residences

Situated just off the coast, Bluewaters is a luxury lover’s dream destination featuring extravagant living style on a man-made island that is converting dreams to reality. Since its opening in 2018, it has been set to become one of the largest attractions for including the largest observation wheel, Ain Dubai, also is set to host the most beautiful island of numerous architecture fantasies in Dubai. Bluewaters Residence introduces unique luxury apartments built with impressive interior designs. Apart from that, perks of being a resident in the Bluewaters apartments may include enjoying Dubai’s popular landmarks as well as spectacular views of Arabian Gulf. Apartments in Bluewaters Residences, selections of 1 bedroom to 4 bedrooms, have full ceiling length glass windows for unobstructed marvelous view of the sea and the observatory wheel. And 5 bedroom apartments penthouses provide 360 view of the whole area- island and the sea. The prices of apartments in Bluewaters start from AED 1.06 Mil.

Palm Jumeirah

The world’s largest man-made island, Palm Jumeirah is home to some of the world’s iconic residential properties resonating a key leverage of Dubai’s luxury property market. The land comprises of a two kilometer long truck with spacious apartments and villas providing home for nearly 80,000 people with beautiful views and fantastic amenities, set by sophisticated restaurants and beach clubs. The island offers ultimate luxury lifestyle with most sought after apartments and places to live. Most apartments offer idyllic living combined with contemporary style elements on the beach front where residents can adore picturesque views of the sea. The cost of luxury apartment for sale in Palm Jumeirah is starting at AED 1 Mil. For smaller 1 bedroom.

Emaar Beachfront

Grand Bleu Tower 1 and Grand Bleu Tower 2 are sister projects of Emaar Beachfront with luxurious residentials with more than 500 high end apartment units. The whole Emaar Beachfront project is a 10 million square feet development situated in one of the most exclusive neighborhood in Dubai- Dubai Harbour. The towers offer 1- 3 bedroom lavish apartments and a few 4 bedroom penthouse units overlooking the fabulous Palm Jumeirah island. Emaar emphasizes the tower is the first Elie Saab effusively designed building in the world. The Lebanese designer made a new standard of luxury apartment in Dubai with his savoir-faire and signature designs. The style resembles 1930’s Art Deco District in Miami for its graphic contours, also features Miami style pool deck and infinity pool throughout its high end amenities. The marvelous development will then feature its other amenities like, restaurants and retail outlets on the ground level. The price starts from AED 2.06 Mil.

Al Habtoor

Amna Tower at Al Habtoor City, Sheikh Zayed Road is the last but not the least on this list of top 5 luxurious developments in Dubai. Set on the bank of Dubai Water Canal, the Amna Tower is a 73 storey ultra-luxurious development. One of the tallest residential towers in Dubai, Amna Tower provides undisturbed view of Dubai’s skyline to almost all of its levels. Apartments range from 1 bedroom up to 7 bedroom feature balconies, floor-to-ceiling windows, fully equipped kitchens and other premium finishes. The project also includes resort style deck comprises of an infinity pool and an open amphitheater with barbeque areas dedicated to its residences and visitors.  Apartment costs start from AED 1.3 Mil.

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Rent/Buy an Apartment in Dubai

Dubai is coveted for offering an all-year sunny climate, luxury lifestyle, and an abundance of opportunities in businesses. Welcoming expats from all over the world, as well as Gulf regional influencers, Dubai’s life is often portrayed as boundless and living with limitless possibilities. Anyone who is relocating to Dubai for a temporary work stay, a short visit or several years contract, all get to look forward to all of UAE has to offer such as skyline residences, waterside havens, world-class shopping, sandy stretches, etc.

Good news for buyers, it is estimated that rents and sales price of apartments in Dubai have dropped up to 10 percent year on year since 2019, while villas have shown a little lower shrinkage which is just 7 percent. The demand for houses (villas and townhouses) in popular areas such as Arabian Ranches, Dubai Hills, and JVC have stayed on the same number resulting in steady rentals, whereas there is a noticeable decline for the rental apartments in non-popular areas. It is merely because tenants are well informed about the real estate market fluctuations and impact of Covid-19 has had, recognize their opportunity cost, and are effectively applying lower rents to renegotiate rents.

Finding an apartment to buy or rent in Dubai can be a daunting task when one doesn’t have much prior knowledge about the market. Nevertheless, one can start by looking for it online, in prior to consulting agencies, through rent an apartment websites to get a basic understanding of the current market in specific location. Explore apartment listings in websites such as Dubizzle, Propertyfinder.ae, bayut, Justproperty.com and other Facebook groups and pages. In these platforms, it’s possible to filter the listings based on the needs such as number of rooms, the area, furnished or non-furnished, rent amount and other factors such as move in date.

Apartments for rent

Once pick and arrange a viewing of the apartment it is necessary to check the access to and from public transport (metro stations and bus stops), security of the building (If there is a watchman put in charge, and check how often visitors are coming in and out ), also understand the a/c system inside the apartment (central or separate), all shared facility in the building and noise in the area to get to know more details of the apartment. Most of the modern apartments for rent in Dubai are fully secured and incessantly check-ups for visitors and residents with their ID verifications.

Upon deciding which apartment to stay, one should keep in mind that prices are negotiable in most cases in UAE, if not, alternative way is that bargain on the number of cheques. Sometimes landlord agrees on reducing the rent price when you pay with lesser number of cheques. Once everything is set, tenant can pay some refundable deposit amount which is usually 5% of the total amount to secure Once the Tenancy contract is issued with all the information regarding the rent (including any conditions agreed by both parties. The contract should comply with the tenancy rules and regulations in Dubai. After that, tenant has to open a DEWA account for electricity payment while submitting documents to Dubai Electricity & Water Authority and pay setup charges fee. When setting up DEWA is completed, its compulsory to register with Ejari and submit the DEWA receipt. The documents for Ejari include: Original tenancy contract, Title Deed (in case of freehold property or SPA if it has been bought from a reputable developer), original receipt of DEWA connection in the tenant’s name and a copy of Emirates ID.  

Some things to note while renting an apartment in Dubai:

1. Make sure your agent is Rera registered. You can find it out with the broker’s number.

2. When writing cheques, only write it to landlord directly. In order to do that , refer to their passport’s copy and title deed if possible.

3. Make sure there is no outstanding bills for DEWA or chiller fee.

4. Any maintenance issue has to be sorted out before moving in.

Finally, one can always check the rental increase calculator by Dubai Lands Department in order to avoid any discrepancy against uninformed rental increase during the stay.

Apartments for sale

Buying a property as an expat is easier than ever before, with Dubai Land Department involved, along with other legislation parties in charge, it’s quite smooth and fast nowadays. The easiest way to buy a property in Dubai to buy an off-plan project. All they have to do is to submit an application to the developer and once it’s approved, the buyer goes to the sales center and pay the initial deposit and start the payment schemes, immediately. However buying from the secondary market takes as quick as obtaining the off-plan project but it requires more expenses especially when the seller has a mortgage needs to be discharged. In any case, an offer letter has to be issued from the buyer to the seller, while the buyer needs to use a RERA-registered broker, need to get the offer letter accepted first. Then the buyer pays 10 per cent deposit in the name of the seller. Second step is for the buyer’s bank if the buyer is paying with a mortgage, their job is to evaluate the property to ensure it is secure enough. Third step is for the seller to apply for No Objection Certificate once the buyer gets the final approval. When all processes have been registered, the buyer must pay 2% and AED 315 to Dubai Land Department, outstanding payment to the seller and the commission (5%) to the agent. Eventually, the buyer will receive the key to the property and Title Deed which is in his name.

When buying an apartment for sale in Dubai, one should keep in mind that a list price means the asking price that is negotiable, a sale price is the price an owner settled at and an appraised value is the value of the market price.

Texture

Moving to Dubai should start with spotting the ideal place to stay. Texture Properties is the perfect partner to resolve this utmost important matter by offering everything from sales to rentals of studio homes to four-bedroom apartments in Dubai’s best towers and villas- all easily accessible with our all-in-one service. From flexible short stay to long-term rentals in Downtown Dubai, simply approach one of our client managers to proceed to more results.

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DUBAI REAL ESTATE PROJECTION

Need of the Industry

UAE consisted of 7 emirates where law and legislations are heavily influenced by its religion, adopted Islamic beliefs- consequently as tax-exemptions through Islamic Banks policy. That is the main attraction for investors for UAE in comparison to other countries, where high tax implemented on foreign investments.  

Previously UAE had enjoyed many years of wealth and free distributions since 1971- that is one year after oil explorations. The country then came to realize that gears didn’t often stay on the peak too long, the country faced the largest struggles in 1998 when oil price drastically declined. Then, UAE has been pushed to develop in other facets and execute certain reforms- such as opening other industries domestically mainly the construction field and bring it to global trade and diversifications.

Real Estate Stability in Dubai

Since the reforms and private sector improvements, UAE market has started attracting massive foreign direct investments focusing on many areas including Real Estate business due to the tax-exempt rules and positive swing of the economy hence the promising land of opportunities. For many years Dubai has been heavily producing both residential and commercial buildings as well as other bigger developments and effectively matured its real estate industry within a short period of time. Successfully it keeps the country at the status of one of the wealthiest economies on the earth.     

Dubai is a fresh young and yet maturing and progressively transparent market where you can invest with confidence with your choice. The property market in Dubai is continuing to develop and get established; we can no longer discuss solely the property market alone, instead, we need to evaluate different segments of it.

COVID-19 impact

Sidharth Mehta, (Head of Building, Construction, and Real Estate, KPMG) states “Perhaps the Covid-19 pandemic has threatened our societies and healthcare systems; the consequences for the local economies are unprecedented but slowly recovering.” (sourced)

Nevertheless, the emirate’s construction production continues to grow, despite the soft weakening of market value. Although, pandemic significantly disrupted transactions, attractive prices and terms, however, still intimidate investors and residents to explore more investment opportunities.

The Central Bank of the United Arab Emirates has been implementing a 5% increase in the favorable loan-to-value ratio for first-time purchasers and a 50-basis discounted point in the benchmark interest rate. It is hoped that these measures will spur market activity and will help it recover sooner. Major developers are also running higher promotional offers and striking payment plans for properties sold off-plan, enabling buyers to start their payments at lower during construction.  

2020 market performance in Real Estate

Dubai’s mortgage market performed well in the first quarter of 2020, as the number registered increased by an impressive 104% compared with the first quarter in 2019. This was followed by a 60% drop between March and April 2020 – mainly as a result of Covid-19.

On the rental verge, some tenants may look for better quality assets at reduced rates and might, therefore, choose to relocate. On the other hand, tenants who are affected by salary reductions and job cuts are likely to be looking to downsize and move to more inexpensive options. This will present vacancies in some properties and additional downward pressure on market rents.

High sales transactions in 2019 carried over into 2020, as Dubai-based developers offered attractive payment plans with the aim of turning tenants into owner-occupiers, and banks offered competitive interest rates. As a result, there was a 10.4% increase in the number of sale transactions registered in Q1 2020 compared with the same period last year.

While the rental and sales costs declined by 1.5%-2.4%, the volume of transactions drastically increased in 2020. The trend of softening prices – which took place over the last few years – is projected to continue through Covid-19. Therefore, we expect Dubai to remain a buyers’ and renters’ market.

Source: https://assets.kpmg/content/dam/kpmg/ae/pdf-2020/07/real-estate-and-hospitality.pdf

Region Specific Real Estate Projection through the end of 2021

Many parts of the world, including South East Asia and Australia, suffered a massive property crash in 2020 as a result of the COVID-19 pandemic, while surprisingly the U.S. real estate market experienced significant growth during this time. The main reason to set it apart from other countries was the U.S. federal government’s verdict to keep low-interest rates that in turn stemmed in lower mortgage rates. U.S. citizens were able to secure inexpensive loans while other countries were experiencing property crashes. This fueled the demand for property and expects to cause further growth in the U.S. real estate market in 2021. 

Alternatively, Israel’s real estate market has currently festered since the property crash in 2020 since the renters delayed to pay their rent causing homeowners are unable to pay the mortgage installments- showing no improvements in the sector. However in Australia, while the property market is in a little growth after the 2020 crash, one could say many projects are on hold. Australia’s city-dwellers have been relocating to regional towns and cities and major cities are no longer the engines of the economy and global activities anymore.  

In the Asia-Pacific region, a renaissance of investments through cross borders and favorable deal-makings within the region is projected in 2021.

Change in the Horizon

The new trend of working from home has drastically shifted the investment potential of the major property types. The demand for industrial, warehouse, and distribution facilities is said to increase significantly in 2021 as people continue to do most of their errands online and virtual meetings are in places everywhere. The demand for commercial properties has shrunk due to the new situation but also because companies no longer need physical offices to run businesses as its encouraged to do business transactions remotely. In a nutshell, this pandemic has made a big change in real estate worldwide and wrought the demand of distribution facilities and manufacturing estates.

Changes to patterns of regime and comportment will absolutely determine pre- and post-Covid-19 eras. Thanks to UAE government initiatives undertaken at the time, the sector has matured and been more resilient since 2020.

We all comprehend that in order to move forward, we all must accept the new reality and evolve accordingly.

As Dubai gradually reopens, the emirate’s world-class infrastructure definitely assures more investors in the nearest future. Dubai is still in a fairly strong position with investors and consumers and has been up to strengthen business confidence. Dubai’s real estate and hospitality sectors will overcome the current crisis and continue to play a critical part in the nation’s economic growth. This is a new beginning – a time for us to redefine ‘normal’ and lead the change.

Optimistic Future

Experts agree that they are clearly positive about the near future of real estate industry in Dubai as the recovery process is firm. Perhaps now is the best time to buy any sort of real estate in Dubai. Estimation of 10% discount for purchasing a new development at this point, says Mr. Hussain Sajwani, Damac chairman told CNBC’s. Delivered the right time to invest in the property market while tenants should also be ready to pay more towards the end of the year after the recession mitigated.  

ValuStrat mentioned as cause of the experience of Covid crisis being resolved, the economy must to recover in 2021 and with the help of 50th anniversary of the UAE and the long awaited expo, property market should be able to pick up again and head towards improvement throughout this year.

Dubai will remain at the top of property investment options as the property price decreased and the impact of oversupply of developments.

For more in-depth analysis of the market projection through our free consultation please visit contact us at : 800 TEXTURE

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Dubai South

Dubai South, previously named Dubai Word Central, is a trade free zone currently under remodeling construction planning to become a self-contained economic zone to support all kinds of commercial activities as well as planting residential communities. Al Maktoum International Airport, the main part of Dubai South, is an airport that will eventually become the world’s largest airport with a capacity of 160 million passengers and 12 million ton of cargo. Upon the completion of Dubai South, the area will have a variety of residential, commercial, aviation and logistics properties. Dubai South is the brainchild of His Highness Sheikh Mohammed bin Rashid Al Maktoum.

Dubai South is set to host highly anticipated World Expo and it hosts Dubai Airshow events at the Al Maktoum Airport. The community is well designed and well equipped with modernity in every amenity. Commercial space and residential area is built in integration that allows residences could deploy balanced lifestyle. There are eight districts within this community, Business Park, Aviation District, Exhibition District, Golf District, Commercial District, Logistic District, Humanitarian District and Residential District. Also several different developers are building residential projects as the area is split into diverse districts. Government of Dubai is constructing Exhibition site and Emaar is building Emaar South residences while the apartments on Mag 5 Boulevard are being developed by Mag Property.

Dubai South features The Business Park Free Zone offering flexible and tax free operations for SMEs and larger corporations in many fields.

Residentials

Residential District situated next to the World Expo site consisting of two main areas. The Villages is one community that is composed of apartments, townhouses, villas and other residential amenities. Another one is The Pulse that is a self-contained community with residentials boulevard with a shopping mall. The Dubai South project is aimed to make a luxurious living with affordability in an economy of scale deliberately includes capacity of 1 million people.
In respect to World Expo, there are quite a number of project lined up for commercials and residences both sales and rental purposes. For commercial purposes, the area involves 795 hectares stretched land which split into eight zones dedicated to various commercial activities. The area attracts loads of investment due to countless benefits enterprises would get including import and export taxes exemptions the trade free zone. Thereby many MNCs already set up their headquarters within the free zone, to be precise, between Jebel Ali Port and Al Maktoum International Airport in account of ideal location to expand business. For startups, Business Park offers flexible conditions of the office setups.

Formerly off-line apartment projects have gradually completed one after another range from studio to 4 bedroom units, prices ranging from AED 330k for a studio to AED 1.5M for 4 bedrooms. Those looking to purchase a 1-bedroom apartment in Dubai South can expect to pay an average of AED 588k. For bigger options, one can go for a 2-bedroom flat. The price of 2-bedroom apartments for sale lies between AED 720k to AED 1.3M. Offering a minimum living space of 1,400 sq. ft. the 3-bedroom units are popular among families and their sale price starts from AED 1M and goes up to AED 1.7M.

For villas, Dubai South has more versatile options of new villas, where the prices of 3 bedroom villa fluctuates between AED 948k to AED 2.3M where 4 bedroom is somewhere around AED 1.2M to AED 3.3M for sale. The brand new villas are built in modern standard adhered to perfect combination of outdoor and indoor activities. Modern amenities include a storage room, laundry space, private landscaped garden and a maid’s room with distinct entrance. The houses are like any other luxurious villas in Dubai, facilitated with CCTV, intercom, maintenance staff, medium swimming pool, and a 2 cars garage.

Commercial properties are also highly anticipated while offering many benefits and conveniences to the businesses. Smaller businesses could expect to spend around AED 32k per year for occupying an office that covers 290 sq ft space while larger and full-fledged offices catered to MNCs could cost AED 600k a year.

For rental of apartments, one should expect to pay AED 27k for a studio and AED 30k for a 1 bedroom flat respectively. The most popular development is MAG 5 Boulevard, a massive mid-rise residentials project offering 1-3 bedroom options, and its followed by Emaar South being next most popular project featuring mix of villas and apartments and a championship golf course.

Transportation

As mentioned before every villas have two vehicles parking spaces and the area of villas itself has a plenty of street parking. By driving, one can access to Dubai South via Sheikh Mohammed Bin Zayed Road or Emirates Road or Sheikh Zayed Road. Currently a bus route F55 serves the area and planning on constructing more public conveyance routes. The community has its own metro station dotted on the Red line, Dubai South, which is an extension of Dubai Metro especially for World Expo.

Amenities

Dubai South has a lot of upcoming projects of amenities including Hypermarkets giants and small grocery stores in each and every corners, though, it has already operational few convenience stores. For schools, as per 2021, there are several schools in the vicinity near Dubai Investment Park, such as Dove Green Private School, Greenfield Community School and Bright Riders ( Indian Curriculum). Besides, there will be many more nurseries and schools upon completion of the whole project.
Nearest shopping malls are Ibn Battuta Mall which is 25 minutes away and Dubai Marina Mall which can be reached within a 40 minute drive too. Riverland Dubai which is part of Dubai Parks and Resorts has a wide range of restaurants which are 20 minutes away. Popular casual dining restaurants in Riverland Dubai include Super Chix, Olive Garden, TGI Fridays and The Coffee Club.

Leisure Activities

Dubai South is fairly close to Dubai Parks and Resorts, which is a collection of different theme parks. Four theme parks have already been gradually launched first phases and still under construction. Dubai South is expected to host many international events as a part of World Expo.

Considerations

Dubai South is self-sustaining area featuring brand new facilities of all kinds of basic and luxury. Currently, on the last phases of constructions handing over for the long awaited World Expo. There are many projects are planned along the way including service facilities and public transportations, yet, not completed at the moment.

Also Read: Four reasons to invest in real estate today

If you would like to get more information on leasing and buying apartments as well as market prices in this area- Kindly contact us for a free consultation at 800-TEXTURE or Whatsapp at +971-50-8091186.

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Springs Dubai

The Springs is a villa community that offers a safe and serene living environment most ideally for young couples and families within its self-contained, gated neighborhood. The beautiful community has all the conveniences for daily lives whilst featuring ecru-colored uniquely modern semi-detached villas in close proximity to all the necessary amenities. Springs residents can get to enjoy the landscaped greenery and scenic lake as well as luxurious amenities with full ownership of the properties.

The master-planned gated community is in a great location for a lot of families- having well placed just off Sheikh Zayed Road, close to Internet City and Dubai Marina. Also the area is a golfers paradise with the famous Montgomerie Golf Course and the Emirates Golf Club close by. With over 4,800 townhouses and luxurious lifestyle amenities available to its residents, properties in The Springs Dubai are often in high demand with a higher return of investment and for those end-users looking at living in a peaceful community in Dubai.

As one of the first few developments to offer property ownership to ex-pats in the UAE, Springs Dubai garners a considerable amount of interest from those looking to own their own property.

Residentials

While solely consisted of terraced townhouses it provides a refreshing community feel compared to the city’s busy center with skyscrapers. There are 15 clusters of communities inside the Springs, each has shared facilities of a swimming pool, BBQ pits, and playground as well as Tennis courts. Apart from being a quiet and safe neighborhood, it is popular among young couples and families of various nationalities background.

2-4 bedroom villas are commonly rented at reasonable prices also come with top-notch fitting and terraces on their owns. Some of them have spectacular views of the lake and configurations are perfectly designed for mid-range citizens. To rent, 2-bedroom villa costs between AED 70k and AED 135k. 3-bedroom villas for rent range between AED 90k yearly and AED 195k yearly. For those looking for a larger residence can opt for the 4-bedroom villas in The Springs Dubai at a rental price of AED 145k annually. Likewise one can rent a townhouse of 2-bedroom configuration at AED 78k per year. Rental price for 3-bedroom townhouses start from AED 110k annually and goes up to AED 145k annually. 4-bedroom townhouse can be rented for AED 145k annually.

For investors and end users, buying a villa in The Springs can cost as low as AED 1.0M for a 2 bedroom- which might be one of the most affordable options in Dubai. Generally, the price of owning a 2-bedroom villa would range somewhere between AED 1M and AED 2M. Also, larger 3-bedroom villas can be bought at a cost of AED 1.49M depending on the location and configuration. Springs Dubai offers also townhouse options of 2-3 bedrooms where 2-beds for sale cost between AED 1.1M and AED 1.65M and 3-bedroom is at AED 2.5M.

Springs 4 has been ranked highest in popularity amongst buyers and renters. It is the best sub-community for renting villas due to its whereabouts in The Springs community. This sub-community provides a variation of 2- 4-bed townhouses and villas at the most affordable prices.

Transportation

Residents of the community get up to two covered parking spaces to park their vehicles while there are a plenty of parking spaces in the vicinity. By lanes on the streets generally suffice for those visiting the area. Safety measures are strictly followed as being gated community for the residents’ secure and sound living. Security guards are placed every point of sub communities and ask for checking visitors.
Springs Dubai area would be slightly challenging for those relying on public transport. DMCC Metro Station is the nearest option at an 8-minute drive away from the community. Further up, other nearby metro stations include DAMAC Properties Metro Station and Nakheel Metro Stations are accessible within 11 to 13-minute driving distance. Besides metro, there is a feeder bus, F31 servicing the neighborhood, with frequent stops along the main road and outside the community center.

Amenities

Springs is home to notable schools dedicated to all the stages of educations from nurseries to senior secondary schools. The Dubai British School is in the center of the area educating all ages of children and fully accredited and providing the international program. Also Emirates International School is conveniently located beside the local Meadows Town Centre and provides quality international education for more than 1655 students from KG 1 to Grade 13 (3 to 18 yrs). Students at EIS originate from over 80 different countries worldwide and reflect the demographics of the families living in the community.
The Springs include Medicare Clinic located in The Meadows. The Springs Souk also has a pharmacy with several others located in adjacent communities. American Hospital is located about 30 minutes away, while the relatively closer Al Zahra Hospital is about a 20-minute drive away.

The Springs Souk caters to the residents’ basic necessities. It houses many different stores from a hypermarket to Reel Cinemas to even an indoor children’s playground facility named Dig It. There are also many retails, beauty salons, services stores, and restaurants in The Springs Souk.

Some casual and popular eateries include the Arabian eatery Royal Bakery and Shakespeare & Co. The Community Center houses few fast food chains at the convenience of visitors while few more coffee shops are also available.

Leisure Activities

There is a wide selection of entertainment and leisure choices for those looking to relax, unwind and have a quality time. Watersports and children’s activities at the beach are popular ways to spend a weekend. Roxy Cinema at The Beach mall is where movie-lovers catch the latest flicks. The cinema is relatively new and has quickly gained popularity among Dubai residents. Closer to the area, Reform Social & Grill holds weekly cinema nights where guests can enjoy outdoor cinema. The Springs Dubai community offers a wholesome lifestyle to its residents. There are several community events that take place during the year to mark special occasions such as Ramadan charity drives and month-long Iftars at the community’s mosque. Every other month during the rest of the year, recurring events such as community market days and Krafty Kids’ fun days bringing the whole family together for leisurely events.

Considerations

While the gated villa community provides a safe and comfortable lifestyle for its residents, it can also be slightly inconvenient for those who don’t rely on public conveyance. To reach the nearest eatery or convenience store will be a bit of a challenge if not driving.

Also Read: Four reasons to invest in real estate today

If you would like to get more information on leasing and buying apartments as well as market prices in this area- Kindly contact us for a free consultation at 800-TEXTURE or Whatsapp at +971-50-8091186.

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Jebel Ali

Mina Jebel Ali is a large commercial port, often referred to as a satellite district, is a steady growth area that plays important role in Dubai’s Industrials. It is located on the outskirt of town, right at the massive marine port that hosts the world’s largest artificial harbor. The Jebel Ali port is considered to be one of the busiest in the world and its Jafza ( Jebel Ali Free Zone) houses over 7,000 trade and logistics companies serving in multiple ranges of manufacturing, industrial, and service sectors. The area is continuously growing, progressively developing, and building beautiful resorts and projects.

Palm Jebel Ali, one of the three man-made islands, also belongs to Jebel Ali amidst world-class golf courses and diving centers. The exceptional Dubai Parks & Resorts is just next to Jebel Ali and there are quite a number of new development projects are on the way. Also, there are several residential regions such as Jebel Ali Village and nearby Discovery Gardens though the area is heavily industrialized. Furthermore, there is Veneto Community by Nakheel features luxurious villas and townhouses, and a highly anticipated Downtown Jebel Ali is to build numerous apartments, retails, and offices within the area.

Residentials

The industrial hub as its name suggests its mostly filled with labor camps and warehouses, however, there are 3-5 bedroom villas and good collections of apartments for renting and buying purposes. Rentals of 4 bedroom villas are available for AED 135k per annum and 5 bedroom is for AED 160k annually.

One can find residential plots for housing while studios in Jebel Ali can cost AED 360k and 1 bedroom apartments can be purchased at AED 565k respectively. The popular residential buildings are namely Rove at the park, Jebel Ali Hills, Jebel Ali Industrial Area and Garden View Villas. Jebel Ali Hills is one of the Dubai’s popular off-plan projects and Rove At The Park is the most popular providing luxurious units suitable for families nearby location of Dubai Parks and Resorts and Motiongate Dubai. Also there are quite a few residential plots available on sale for building villas customizing to one’s needs and requirements.

Jebel Ali Industrial Area is very popular for renting offices and warehouses amongst small and medium enterprises. A small studio starts from AED 19k per year in this area where Jebel Ali Free Zone which closely situated to Garden View Villas is the alternative for renting offices for less cost.

Hotels

The area is home to a few world renowned hotel chains as the area is quite popular amongst business travelers. There is JA Palm Tree Court, a 5 star hotel with award winning hospitality and services along the shores including plenty of outdoor activities such as water sports and swimming bars. In close proximity to the JA Palm Tree Court, there is a shooting club Jebel Ali serves international safety standard of professional and amateur shooting practices.

Another notable hotel in the vicinity is The Manor By JA which located quite near to Expo site features all the amenities for expo visitors and business guests while situated fairly close to JAFZA business district and Al Maktoum airport.

Transportation

As residentials and developments are quite scarcely situated, finding parking or driving here wouldn’t be a hurdle. Apart from private conveyance, there are public transportation well linked to the mainland. Bus routes connecting to Gold Souk Bus Station and Downtown areas are departing from Jebel Ali station. Also the area has metro stations which are towards the end of the Dubai Metro Red Line. Metro stations within Jebel Ali borderline are Jebel Ali Metro Station, Ibn Battuta Metro Station, Energy Metro Station, and UAE Exchange Metro Station. Moreover, Bus lines 8, 85, F43, F42, DPR1 and E101 are servicing the commuters. Another public transport is water transport at Jebel Ali that approximately takes 22 min to reach Marina Promenade Waterbus Station, and around 20 mins to Dubai Marina Mall. Lastly, Dubai Tram is also linked from Jumeirah Beach Residences.

Amenities

There are a number of supermarkets for casual groceries in Jebel Ali such as Nesto, Meena Centre FZE, and many more while the Jebel Ali trade free zone is home to various options to choose from. To just name a few, Zabeel Oasis, New Parco, Salam Al Madeena, and Malabar are the popular options.
There are some nurseries and primary schools as well as a ballet school named Harmony Ballet & Music Center operating in Dubai Investment Park and Jebel Ali Village for the residents and families. The primary schools follow different curriculums available. Jebel Ali School (UK curriculum), Delhi Private School (Indian curriculum)and The Winchester School (UK curriculum) are quite popular schools, there is also the Greenfield Community School (IB system) in Dubai Investment Park. For photo enthusiasts, there is the Nikon School Dubai that provides a series of courses aiming to enhance the technical and creative skills of photographers. Higher education-seeking students can attend the universities in the Knowledge Village complex, which is only 20-minute drive from Jebel Ali.

Leisure Activities

For dining options, there is an abundance of restaurants and eateries in Jebel Ali with several cuisines and an array of fast-food joints. To name a few, there is Pepper House Restaurant and Aziz Afghan Restaurant and Pret to Go. The Jebel Ali Beach Hotel is a 5-star beachfront resort overlooking the Gulf shores. There is also the fantastic JA Jebel Ali Golf Resort featuring a standard 9-hole par 36 course with exciting challenges and beautiful scenery. Another one of the notable landmarks is the second of the wondrous man-made islands by Nakheel, Palm Jebel Ali, which has been on hold in its construction.

Although there aren’t any conventional parks in Jebel Ali, some of the largest theme parks are just a stone away. Sandbox Jebel Ali is a popular attraction amongst travelers and locals. Residents also can head to the recently renovated leisure destination Jebel Ali Recreational Club for outdoor activities as well as dine-in cinema and restaurants.

Considerations

The area currently accommodates very less number of residents and residential areas which might not be self-sufficient to stay in, also, quite far from the main part of the city.

Also Read: Four reasons to invest in real estate today

If you would like to get more information on leasing and buying apartments as well as market prices in this area- Kindly contact us for a free consultation at 800-TEXTURE or Whatsapp at +971-50-8091186.

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Akoya Oxygen

As the name suggests Akoya O2 by DAMAC Properties is an eco-friendly community- the first green residential place in Dubai that is built for families and sustains the environment. Akoya Oxygen is a completely self-contained community highlighting a tranquil lifestyle and green living, away from the busy city but with easy access to the city’s major business and leisure hubs. The community is progressively developing yet most of the phases have been completed and some properties have already been handed over. 

The area has a huge community center offering a hypermarket, retail, and dining, along with a gymnasium and clinic. Golf Verde will soon open schools and family parks along with its selection of apartments that are set with resort-style amenities. The plan also includes nurseries, mosques and hospitals to be developed within the vicinity. The community is built amidst landscaped gardens, parks, water fountains, and a leafy boulevard featuring a golf course. Launched back in 2014,  considered one of the top off-plan projects in Dubai, Akoya Oxygen is directly competing with EMAAR’s project Dubailand.

The developer is striving to create a place where the utmost importance is given to the public realm and facilities – from lifestyle and entertainment to education and healthcare. Located along Umm Suqeim Road, It’s just a short drive from the city center, but residents would feel as if it’s a world away.

Mission

Properties in Akoya O2 are in various configurations and settings surrounding the championship golf course. There are communal facilities and playground area for promoting a healthy lifestyle of the residents. The development will also feature more restaurants and larger retail shops that are environmental friendly. The building materials such as the wood is FSC certified, windows are Energy Star qualified and biodegradable tableware are just few examples of the project proposals. Furthermore, residential units are also made of energy efficient materials, environmental friendly lightning and air conditioning systems, as well as low emission paints and solar system heaters. All of the wastes from the neighborhood will be recycled.

Residentials

Renting studios in Silicon Oasis is cost somewhere AED 25k on average per annum in a brand new condominium. 1 bedroom apartment would cost AED 37k and goes up to AED 58k for a 2 bedroom and 3 bedroom is AED 79k annually. Likewise, 3 bedroom villas in the gated clusters will come at AED 130k and 4 bedroom is somewhere at AED 148k per annum. For offices, there are a number of buildings and purposes available, for instance, a small office for a simple setup may cost as low as AED 16k and larger units spanning about 1000 sq ft to choose from SIT Tower or Cambridge Business Center will cost only AED 40k annually.

Here, one can find luxury residential apartments, villas, and townhouses. Larger units and plots are customizable for the buyer’s interest. Generally, all residential properties are surrounded by green spaces and expansive parklands, while most villas have own private lawns. Apart from the private properties, there are also serviced hotel apartments available for sale in Akoya Oxygen.

Initially, China State Construction Engineering Corporation was appointed as the main contractor to execute the master plan which includes more than 10,000 independent villas and townhouses, around 1,200 apartments, over 2,000 hotel rooms and 650 serviced villas, each offering panoramic views of the golf course.

Aurum Akoya O2

One can choose from 3-bed to 6-bed villas, 3-bed to 5-bed townhouses and studios and 1-bed to 3-bed apartments in the community. For apartments, one can buy a ready-to-move-in studio apartment that spans 425 sq ft for about AED 325k. 1 to 2 bedroom apartments on average costs AED 450k to AED 750k in this neighborhood.

The villas community is ranked one of the most affordable to buy in Dubai as per in consideration of close proximity to Expo site. Here, one can buy 3 bedroom villas for around AED 1.3M for a standard size of 1,900 sq ft. And Just Cavalli Villas designed by Roberto Cavalli are the popular option among villas. For townhouses, one can get 3 bedroom townhouse spanning around 1600 sq ft for a price of AED 750k.

The area is divided into few clusters namely; Aster, Zinnia, Claret, Sycamore, Coursetia, Primrose, Juniper, Paloverde and Odora. The largest cluster is Zinnia (181,869 sg m) and it’s followed by Primrose and Aster in terms of their covered space sizes. In Claret and Juniper one can rent 3 bedroom villas for as low as AED 55k per year whilst prices are slightly differ in other areas such as Aknan Villas where it costs AED 60k to AED 65k per annum.

Hotels

The community is planned to feature 2000 rooms 5-start hotel offering world-class hospitality as well as promoting environmentally-friendly stays.

Transportation

It needs to be emphasized that the area is designed to reduce carbon emission whereas there are a plenty of dedicated roads and parking spaces for bicycles and other hybrid vehicles. The residents will be connected to the main highways easily by private conveyance though public transport routes are not yet completed. However, visitors can temporarily connect from neighboring Mira bus stations. Moreover, there is a monorail available for residents and visitors surrounding the Akoya Oxygen.

Amenities

Residents can swing by Carrefour in the vicinity or can head to another supermarket Spinneys which is about 14 minute drive away on Al Qudra Road. There will be a few options of schools and preschools set in Akoya Oxygen, still there are some notable schools located nearby the area. For instance, Jebel Ali School which is one of the top rated; and South View School is one that offers British program, also, Academic city is not very far from here.

For medical service, nearest is Mediclinic Parkview Hospital can be found at 20 minute drive away on Umm Suqeim Road and Aster Clinic is in Arabian Ranches community. Akoya Oxygen is bordering with no immediate neighbors thus Reem by EMAAR is nearby which precisely 22 minute drive far. Other nearby places are Barsha Heights and Mall of Emirates its easily connected even though Akoya O2 is distant from mainland.

Beaches

The area is in quite midst of a landlocked area while planning to maintain a green atmosphere with fountains and sprinklers. Still the nearest beach to enjoy the sea waves is Jumeirah beach which is approx. 30 minutes of drive away.

Upcoming

DAMAC Properties is building the first and the largest rainforest of the region in Akoya Oxygen. It will be an educational hub allows guests and visitors to explore the man made tropical jungle and natural reserves. Moreover, there is a zip-line attraction for fun activities and a recreational rainforest spa for steam baths and hydrothermal treatments.

Considerations

Akoya Oxygen is completely tucked away from the mainland as it suggests families to expect slower phase of lifestyle and reliance on private conveyance.

Also Read: Four reasons to invest in real estate today

If you would like to get more information on leasing and buying apartments as well as market prices in this area- Kindly contact us for a free consultation at 800-TEXTURE or Whatsapp at +971-50-8091186.

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Dubai Silicon Oasis

Dubai Silicon Oasis is a multicultural vast community comprised of three parts, residential, villas, and a commercial technology park that is within a free trade zone. The technology park is the home to many innovative tech start-ups while attracting a lot of young professionals to set up their new businesses to work and conveniently live in Silicon Oasis. Also, the community has a wide network of roads and a range of residential options offering a quite reasonable neighborhood to live in.

Dubai Silicon Oasis has become a popular suburban place because of its affordability on the rentals and has ripened for a self-sufficient community where many companies have moved their offices to the area since its opening in 2002. With the aim of becoming a global hub of technology innovations and R&D, the area has now grown to a buzzing residential place. Students and their families may always be found living in Silicon Oasis because of its close proximity to Academic City- which is only 5 minutes of drive away. Various selections of properties are quite fulfilling to many types of buyers and tenants on the account of a rather good location.

Residentials

The community offers an array of properties that might be worth to look at because rentals are chiller-free and include affordable yet luxury apartments. More common buildings are Silicon Gates, Palacio Towers and Binghatti Stars residents amongst tenants. Bigger families can consider in the villas community Semmer Villas and The Cedre for 3-5 bedroom townhouse and villas.

Renting studios in Silicon Oasis is cost somewhere AED 25k on average per annum in a brand new condominium. 1 bedroom apartment would cost AED 37k and goes up to AED 58k for a 2 bedroom and 3 bedroom is AED 79k annually. Likewise, 3 bedroom villas in the gated clusters will come at AED 130k and 4 bedroom is somewhere at AED 148k per annum. For offices, there are a number of buildings and purposes available, for instance, a small office for a simple setup may cost as low as AED 16k and larger units spanning about 1000 sq ft to choose from SIT Tower or Cambridge Business Center will cost only AED 40k annually.

Only Cedre Villas is a cluster offered freehold estates as Dubai Silicon Oasis residentials are mainly sold on 99-year lease. Therefore, investors can lay out around AED 304k only for a 99-year leased studio, and same will go for 1 bedroom at a cost of AED 470k while 3 bedroom apartment costs around AED 1M. In contrary, for buying a full ownership of a 3 bedroom villa in the earlier mentioned cluster costs AEE 2.3M and 4 bedroom is at AED 2.6M. Business owners can buy offices for the prices varied based on the size and locations. For instance, a standard office of 750 sq ft would be going for AED 290k with an average view and location.

Hotels

There are a couple of notable hotels include Radisson Blu Hotel Apartments Dubai Silicon Oasis and Premier Inn Dubai Silicon Oasis which are 3- 4 stars venues deliberately serving the local and international business executives. Premier Inn is a budget hotel in the neighborhood and there is a feeder shuttle bus to Burj Khalifa and Dubai Outlet Mall departing in front of the hotel.

Premier Inn

Transportation

Although there are reserved parking spaces in the most buildings for private conveyance, visitor parking is mainly paid parking lots. The nearest metro station to Silicon Oasis is Rashidiya metro station that is about 20 minutes of drive away, so, one can reach by a bus. There are a number of bus links such as 320, 321, X25 and 367 routes are serving the locals in and out of the neighborhood.

Amenities

Supermarket giants like Spinneys and Carrefour outlets are set below some of the residential towers and Cedre Villas Community Center offers other shops and basic services. As the area is thriving to be a self-sufficient community it has provided branches of UAE notable medical clinics such as Aster Clinic and Medicure Clinic. For those are seeking bigger hospital services they can head to Academic city for Fakeeh University Hospital with a few minutes commute. In short, Dubai Silicon Oasis is perfect for families as there are all the amenities available including nurseries and schools. Top-rated schools and nurseries offering UK and American curriculum namely, Emirates British Nursery, GEMS Wellington Academy and Venus International School. Internationally accredited Murdoch University and Rochester Institute of Technology are situated in the neighboring Academic City.

Shopping and Dining

The Cedres Villas Community Center fulfills the basic shopping needs of the residences and one can opt to Dubai Outlet Malls for more comprehensive retails. There are casual eateries around the Community center also salons and a family recreational park is right beside the hypermarket. Moreover, fine-dining restaurants and lounges are featured in two of the hotels above mentioned.

Attractions

The nearest beach, Jumeirah Beach is about 25 minutes away from the vicinity, which relatively not accessible to beaches too easily compared to other areas in Dubai. Although, the area is full of fun activities on the ground itself catering to families and small children through its community center and other amenities. The neighborhood is quite nearby to Global Village, a huge theme park where its open-air showcasing all the world’s cultures and traditions with much entertainment. Also, families can head to Dragon Mart 2 and IMG Worlds of Adventure for more exciting activities.

Outdoor activities

Mushrif Park, the largest and oldest park in Dubai, which has full on activities like equestrian centers, swimming pool, barbeque pits and camel riding spots is only 15 minutes away. Apart from that, the area is planning to build its own parks and recreational centers in the near future. The community has everything all ought to lead an integrated lifestyle in the community’s premises, for example, beauty salons- Beauty Avenue Salon and Spa; and gyms- Target Gym, Fitness4Life as well as Super Trim Gents Salon for haircuts. Lastly, it hosts a flea market Silicon Bazaar occasionally for children and the families through fun-filled events.

Considerations

The innovation and technology hub is near to industrial zones and institutes thus, not very convenient for people relying on the public transportations.

Also Read: Four reasons to invest in real estate today

Semmer Villas

If you would like to get more information on leasing and buying apartments as well as market prices in this area- Kindly contact us for a free consultation at 800-TEXTURE or Whatsapp at +971-50-8091186.