Tipping points about the complex
Downtown Dubai is one of the most popular locations among buyers interested in luxury real estate in Dubai. The community was built by a leading Emirati developer, Emaar Properties. It covers 500 acres and includes several projects and prestigious buildings in which tens of thousands of people live.
In the community, luxury hotels and boutiques alternate with greenery, fountains, and lakes. There are wide pedestrian boulevards with art installations between them. The community is one of the world’s most exclusive places, combining recreation areas, fine restaurants, and innovative architecture.
The community is home to some of the world’s most iconic attractions – the Dubai Mall and the Dubai Opera House, located on both sides of the park, and musical fountains facing the Burj Khalifa, which is the crowning creation of Emaar Properties and the world’s highest residential tower.
Despite the luxury, the community offers a wide range of affordable residential properties, from studio apartments to penthouses occupying an entire floor. The local complexes are carefully designed to look harmoniously against the background of the green spaces of the Southern Ridge and fit into the rustic aesthetics of the Old Town.
In addition to the ready-made residential units, there are many off-plan projects, including Act One Act Two, Il Primo, and Bellevue Towers. Payment plans from developers make these complexes attractive for both beginners and experienced investors.
The Dubai Mall is the world’s second-largest shopping mall. However, it does not break all records in size, it has a lot of other unique advantages:
• it attracts more visitors every year than New York;
• it is home to the world’s largest OLED screen of 709 m2, located next to the aquarium and the underwater zoo;
• here is the largest dancing fountain with 6,600 lights and 50 colored spotlights, throwing water to a height of over 150 meters.
In addition, the shopping center offers more than 1,200 stores, including the recently opened Fashion Avenue. For those who need a break from shopping, there are over 200 restaurants and cafes, as well as entertainment venues, such as a 22-screen Reel cinema, a virtual reality park, and a genuine 24-metre-long Diplodocus fossil.
Not far from the Dubai Mall, there is CZN Burak, the long-awaited Turkish eatery from restaurateur Burak Ozdemir. The community also includes Downtown Kitchens and Souk Al Bahar, a gourmet paradise with Lebanese cuisine, seafood dishes, and a specialized truffle shop.
There is the new Timeout Market on the third floor of Souk Al Bahar. There are eateries from the best chefs of the region that will appeal to even the most fastidious people.
Although Downtown Dubai is an autonomous area, where there is everything that residents may need, sometimes they have to travel outside the district. And they have no problems with this due to access to the Al Qahir highway and the Sheikh Zayed Road. You can take the metro north of the old city or south towards Dubai Marina.
There are many medical institutions in the district, including Mediclinic. Residents also have access to a wide selection of schools, such as Clarion, Babalou Nursery, and Safa British School.
Downtown Dubai real estate market
The local real estate market is one of the most popular and profitable markets in the city. As the community is home to some of the most expensive and luxurious residential properties, hotels, shopping malls, and restaurants, it attracts new investors, tourists, and expats every year.
Several factors contributed to the success of the local market, including:
• a strong UAE economy;
• a growing number of investors and visitors;
• an increasing number of infrastructure and development projects.
See the average cost of apartments in Downtown Dubai (AED) in the following table:
Average cost of apartments
The table below shows the average cost of villas (AED):
Average cost of villas
Investment in Downtown Dubai real estate
As the community continues to evolve, investors are showing interest in real estate near new construction, future development projects, and major attractions. Many buildings belong to the premium class category due to a wide range of amenities, high-quality finishes, and elegant design.
Studios and apartments with 1, 2 and 4 bedrooms bring the highest profit among local real estate. The average return on investment rates (ROI) for apartments can be found in the following table:
Compared to apartments, community villas pay off less. The table below shows the ROI of local premium residential properties:
The most popular residential complexes in Downtown Dubai
According to the above information, you can guess which residential complex is the most popular in the community. Of course, Burj Khalifa ranks first in the rating. Buying a 3-bedroom apartment in a record-breaking skyscraper can cost AED 4 million.
This is followed by 29 Blvd, designed by Frank Williams & Partners. The complex is one of the most stylish buildings in Downtown Dubai. It consists of 2 towers and offers 750 apartments in various styles and configurations, from studios to 3-bedroom apartments. Residents of the complex have access to amenities, such as swimming pools, gyms, barbecue areas, and game rooms.
The Residences I and The Residences II are a complex of 9 towers, including both residential and commercial properties. It offers 1-4 bedroom apartments as well as penthouses and villas overlooking Lake Burj. The complex is autonomous and has a podium that connects the towers to each other. Of course, local property owners have access to standard amenities, such as swimming pools, gyms, and game rooms. There is also a library, a mini-theater, and a badminton court.
Assistance in buying real estate in Dubai
You can find relevant offers in the Downtown Dubai property market or other promising communities in the city in the AX Capital catalog. Contact the agency representatives to get help in choosing the right option, support at all stages of the transaction, and high-quality after-sales service.
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