Dubai Marina topped for the greatest number of properties sold in Dubai during 2019. The total of 3,366 transactions valued at AED8.67B. Why is the area so much in demand? Our community expert Nima Safa explains.
Dubai Marina is one of the most beautiful waterfront communities in the emirates. With a walking distance to whatever you want, it offers fancy hotels and great cafes. “It’s technically a mall,” says Nima.
Most people in Dubai – tourists and residents – wish to live in a waterfront community and enjoy the beachfront lifestyle. A waterfront community by the 7 kilometres of a canal, Dubai Marina offers just that. “So, when living in Dubai Marina, no matter where you come from, you’ll settle in nicely,” says Nima.
The investment perspective
Dubai Marina is one of the best and safest communities for you in Dubai to invest your money. For buying, renting, and selling, it has been one of the most in-demand areas for the past 10 years. You may see a lot of tourists visiting Marina daily. However, only 30% of the buildings in the community are hotels. The rest 70% of them are residential. Another reason for the growing popularity is its proximity to Media City and Internet City. They are home to some of the most important international companies in the UAE. The community is also near Knowledge Village.
The price per square foot is Dubai Marina is lower than in Downtown Dubai. However, when you compare the rental, they’re almost the same, which means a higher return on investment and better value for money.
Choosing the right property
“You have to be very careful in deciding the building, plot, and location that you want to buy in Dubai Marina,” cautions Nima. Dubai Marina has different categories of buildings. “We’re talking about the mid-quality, high-quality, and luxury.” Only 8% of the Dubai Marina buildings are within the luxury project and the demand for them is high. If you can get into those buildings, which are technically located in the best plots right in front of the water, with less traffic, and the highest quality, there would be a higher chance for you to protect your investment.
The prices can be very different. For example, for the mid-quality and low-quality ones, you might get a one-bedroom for AED500,000. However, our area specialist Nima doesn’t recommend those types of properties because you may have to buy in a lower-quality older building. It will give you less return because you will have to pay higher maintenance, and your rental yields will be lower. However, if you buy a high- or mid-quality one-bedroom, the entry prices could be between AED700,000 to AED800,000. And for two-bedrooms, they could be about AED1m or AED 1.2m, “which is absolutely affordable and great.” For a luxury one-bedroom, you may have to pay a little bit more, “which I’m sure for sure is worth it,” Nima adds. The prices could be about AED1.4m and it can even reach AED1.8m.
The best developers
Dubai Marina is a well-established area when compared with many other communities that are somewhat construction sites. As the community is almost ready, you will have a variety of options to enter the market. However, in terms of the good developers, Emaar and Select Group are dominating the best quality buildings in the area. First of all, it’s the location for those developers who are purchasing the best plots in the best locations in Dubai. And secondly, they offer you their high-quality projects. And in some cases, you might be able to get very good prices compared with other developers.
After the iconic Bluewaters Island, which is the house of the largest Ferris wheel in the world, the next upcoming iconic project is a private island – Emaar Beachfront – which will add much more value to Dubai Marina. It is one of the most exciting developments by Emaar, offering private beach access for all buildings.
Access and connectivity
“It doesn’t matter if you have a car or if you don’t have a car.” Although Dubai Marina is a very high-density community, the roads, the bridges, and the transportation system are all in the best level possible. Moreover, Dubai Marina has several entrances and exits, allowing you to directly access Sheikh Zayed Road, which is the main highway and the main road to Dubai. And if you don’t want to use your car, there is a tram that’ll take you within and outside Dubai Marina. The community also has two metro stations – Damac Properties Metro Station and DMCC Metro Station – that connects you to the rest of the city.
Nearly all the buildings in Dubai Marina have supermarkets, cafés, and restaurants. Whether you want to grab a mug of coffee with your friends or just enjoy the views of the setting sun in the evening, or you want to have a fancy date at a fine-dining restaurant, you’ll have all of it in Dubai Marina. “If you name it, it is available there,” Nima exclaims.
One of the most important landmarks in Dubai Marina is the Marina Mall built by Emaar. Marina Mall is popular for both tourists and residences because it has a lot of facilities and amenities, such as cinema and retail shops. And next to it you can find one of the best five-star hotels in Dubai – Address Marina, which is built by Emaar again.
Contact Nima Safa
If you’re looking for the high-quality property in Dubai Marina and the best deals, contact our community expert Nima Safa at email@example.com.