As new Dubai real estate launches jostle for attention in a highly competitive arena, projects situated on or close to the water are doing particularly well with international investors – according to leading real estate company Appello Real Estate.
“It’s almost ironic that as a country known for its sprawling deserts, it is the beautiful homes by the water that are currently grabbing buyer attention,” said Naval Vohra, CEO, Appello Real Estate.
Vohra revealed his team has seen an approximate 45% rise in client requests for information on Dubai homes by the sea, lakes, or canals in the past 18 months. He puts this down to allure.
“I think the sheer quality of the projects on offer is one of the reasons for the trend,” he said. “Put simply, they’ve been done well. If you look at Dubai Creek Harbour, for example, this recently developed area is highly appealing. It has a range of gorgeous homes, a multicultural vibe, and fantastic transport links and good potential for ROI through leasing.”
Covering 6km, Dubai Creek Harbour is just ten minutes’ drive from Downtown Dubai and ten minutes from Dubai International Airport, giving easy access to the city’s greater districts and attractions.
It’s a nature lover’s haven too, adjacent to the lush Ras Al Khor Wildlife Sanctuary, home to over 450 animal species including the renowned pink flamingos.
One up-and-coming development grabbing the limelight is the under construction EMAAR Beachfront – an exclusive residential community within the new maritime project Dubai Harbour. The development represents a unique blend of cosmopolitan living in a prime location and a serene seaside lifestyle. Here, projects like South Beach, offer a mix of stunning one, two, and three-bedroom apartments.
“EMAAR Beachfront will be offering something rather special,” added Vohra. “Buyers will get serene resort-style living, yet easy access to all the excitement of the city. Plus, there’s exclusive access to a long pristine beach strip, making this an obvious draw.”
Other waterside hot spots include the high profile Bluewaters Island. Located off the coast of Jumeirah Beach Residence (JBR), the man-made, mixed-use island is home to the iconic Ain Dubai observation wheel and boasts the first Caesars Palace hotels in the Middle East. It’s not hard to see the appeal for moneyed investors.
An oldie but a goodie, Dubai Marina is also seeing renewed investor interest confirms Appello. This is in part due to some exciting new buildings – including the spectacular Ciel – set to be the world’s tallest hotel on completion. Designed by NORR and developed by The First Group (TFG), the tower will scale 360 metres and house 1,042 luxury suites.
With a slightly different feel, the Dubai Water Canal has tapped into waterside-meets-city living and is reminiscent of international real estate favourites like Canary Wharf in London. It’s an extension of Deira Creek and connects Business Bay to the Arabian Gulf. This environmentally friendly lifestyle development is comprised of three separate zones: The Water Network, The Green Network and The Public Realm.
Finally, Dubai developer Meydan is also set to launch a new waterfront community in Jebel Ali. Marsa Meydan is intended to mimic Newport Beach in Los Angeles with a mixture of residential and lifestyle space. Amazing features include a climate-controlled marina featuring a circular shade for the hot summer months.