The coming new year and brand-new decade will see a flurry of activity in the UAE property market as new developments come to fruition, new regulations begin to have a positive impact, and the entire country gears up for a huge influx of investors for Expo 2020, starting October.
Dubai’s brokerage Appello Real Estate shares its top picks of the residential communities in the emirate that currently have something extra special to offer.
“Investors and end-users alike will have a range of great communities to choose from next year, but the places on our list look particularly promising in terms of getting a good deal and making a sound future investment,” said Naval Vohra, CEO at Appello Real Estate.
Why it’s worth watching: There are some high profile launches imminent
Buying a property early in 2020 on the famous Palm Jumeirah island could be perfect timing as the community is about to enter an exciting phase. Kerzner International, the developer and operator of the Atlantis, is preparing to welcome in the next decade with an architectural and brand sequel – The Royal Atlantis apartment resort complex. Due to open next year, the 43-storey new Atlantis is split into two towers – one devoted to a resort and the other to residences – connected by a bridge filled with pools, lounges, and cabanas. At the same time, the much anticipated Nakheel Mall, which has been under construction since 2015, has opened and will be the icing on the cake for Palm residents. Set over 4.5 million square feet, the commercial hub spans five floors and boasts more than 300 shops, restaurants and leisure attractions, with underground parking space to accommodate 4,000 vehicles.
Why it’s worth watching: Its location and entertainment mix will pull in new families
City Walk continues to offer a great investment, especially for potential landlords. This well planned-out Meraas community is only increasing in popularity and is sure to be appealing to the new wave of expats arriving in time for Expo 2020. Why? Because of its superb Jumeirah location, great transport links, and exciting on-your-doorstep entertainment complexes. For kids there is gamers haven Hub Zero that also includes thrilling rides and attractions. There is also Green Planet, a standalone bio-dome that houses over 3,000 plants and animals and invites visitors to explore the Earth’s wonders. There is also Mattel Play Town, an interactive indoor ‘edu play’ attraction for children aged between two and ten years themed around the most popular children’s fictional characters. Moreover, the beach is within walkable distance.
Why it’s worth watching: After a slow start, this area is ready to soar in 2020
Business Bay has a great location for access to both the city and other key parts of Dubai, though for a long time it was viewed as ‘under construction.’ However, the area is finally up on its feet and the next few years will see it rocket in desirability. There are new hotels – the spectacular 823-bedroom Paramount has just opened, featuring eight restaurants and cafes. Buyers are already sensing the potential of Business Bay in coming years; it has emerged as a top pick for buyers in 2019 with an overall 1,160 property transactions recorded in the three months of September, October and November.
AL QUDRA ROAD
Why it’s worth watching: Quality housing in a peaceful, eco-friendly environment will lure Millennials
Something of a dark horse, the area along Al Qudra Road has soared in investor popularity because of developments like the first phase of Mira in Emaar’s Reem townhouse community which offers elegant homes with a peaceful neighbourhood vibe – while Arabella in Mudon is gaining appreciation for its intelligent layouts and high-quality construction. Another massive appeal is cost and quality and life. The various Al Qudra adjacent communities are located on the outskirts of Dubai, and because of this residents enjoy hassle free parking, cheaper rents – and cleaner air, a huge bonus in the minds of the new eco-conscious generation. Millennials love the area.
DUBAI HILLS ESTATE
Why it’s worth watching: It seems to be able to weather any market dips
The prestigious Dubai Hills Estate fared well across all price points – no matter what the market fluctuations in 2019 – and has been a popular community for both investors and end-users. The amenities, outdoor spaces, new shopping mall and appealing mix of office and retail has been very attractive for buyers. In 2020 this winning formula is only going to increase its desirability, making it a hot tip for potential investors.
Why it’s worth watching: It has suddenly come alive thanks to new hotel launches
Home to the iconic Ain Dubai observation wheel, the man-made, mixed-use Bluewaters Island located off the coast of Jumeirah Beach Residence (JBR), is set to shine in 2020. It took a while, but a raft of new launches means it’s going to appeal to a wider demographic and pull in the crowds – not least because of the first Caesars Palace hotels in the Middle East. Located close to Dubai Marina, the island will also operate the Group Rapid Transit service, offering passengers a unique travel experience via a driverless vehicle system.
DUBAI CREEK HARBOUR
Why it’s worth watching: Waterfront living is a huge growing trend
People love living by the water, it’s a fact. And just a short drive from Downtown Dubai, Dubai Creek Harbour is a stunning waterfront development situated on the banks of the historic Dubai Creek. It features a great mix of world-class homes and eclectic culture connected by excellent transport links. Investors should look here because market trends show that waterfront properties are a great point of investment in Dubai, so even if you want to move out of your waterfront house after a while, you can lease out the property and receive a high return on investment (ROI).
Why it’s worth watching: Comes to completion in 2020 and has lots to offer different types of buyer, notably animal lovers
Expected to reach full completion in 2020, Mohammed Bin Rashid City – popularly known as MBR City – offers high-rise and mid-rise apartments, luxurious villas and townhouses. Made famous thanks to the presence of the Meydan Hotel, it is also an interesting community for animal lovers, with both an equestrian and falcon centre in the area. With various eateries, entertainment centres, retail shops and more futuristic developments coming up, MBR City is a hot community to watch.