Downtown Dubai is a large-scale, mixed-use 2 square kilometer megadevelopment by Emaar Properties, situated in the center of the emirate with direct access to Sheikh Zayed Road and all major landmarks within a 10-minute distance. It is home to the world’s tallest skyscraper, the Burj Khalifa, and the world’s largest mall, the Dubai Mall. Downtown Dubai is split into two main areas – Downtown and Old Town. While Downtown represents the modern age of Dubai with towering skyscrapers and luxury amenities, Old Town pays homage to the classic low-rise vernacular Arabic style architecture.
A city within a city, the Downtown Dubai neighborhood is a hotspot for long-term investment and housing, including properties ranging from studios to 4-bedroom apartments and penthouses with breathtaking views of the cityscape. It combines the ideal fusion of a quaint way of life, urban living, and the dynamic business world.
The strategic location of the community is bound to the south through Business Bay, and to the northeast by Financial Centre Road. Downtown Dubai is also regarded as the core heart of the New Dubai. It is now considered one of the 5 main urban centers as outlined in Dubai’s 2040 Urban Masterplan. The Masterplan classifies Downtown Dubai along with Business Bay as the Onshore International Business Hub for economic, financial, and business activities.
Downtown Dubai has 19 main developments, including: 8 Boulevard Walk, 29 Boulevard, Boulevard Central, Burj Views, Boulevard Crescent, Boulevard Heights, Boulevard Plaza, Boulevard Point, Burj Vista, Claren, Downtown Views, Emaar Square, Opera Grand, South Ridge, Standpoint, The Lofts, The Old Town Island, The Old Town Residences, The Residences.
In this report we will present comprehensive data and market research specifically on the supply, demand, and price rates surrounding the real estate activity in Downtown as it is a completed community, to support the indication that 2022 is the prime time for investors to capitalize on the properties.
Adham Younis, Group CEO of D&B Properties, commented, "Based on our data, the Q2 activity within the Downtown Dubai community in 2022 has seen an 86% increase in real estate transactions, with over AED 1.1 billion, as compared to the Q2 of the previous year, which saw a total of AED 640 million. Similarly, the rental prices have also experienced a spike throughout the city, with Downtown Dubai seeing a 25% increase standing at AED 1,896 per sqft in Q2 2022, as compared to the AED 1,520 per sqft in Q2 2021. We expect the activity in this community to further pick up in Q4 2022."
Edward Millward, Group CCO of D&B Properties, said, "You could say that Downtown is the capital or center of Dubai. It's a community like no other, with one of the most iconic buildings in the world. You have the most amazing lifestyle within this community, walking around the magical boulevard, incredible 5 star hotels, amazing shopping and the spectacular fountains. Downtown Dubai truly is Emaar's kingdom. If you have a property portfolio in Dubai, then you must have a property in Downtown Dubai."