Bullet-Point Property: Dubai No. 94
Do you wonder who is going to live in all these new properties as you read my weekly updates?
I have spent the last 15 years in this market having similar thoughts - Do we need another Master development and do we really need another Mega Mall, however, as each one gets delivered they somehow fill up and we move onto the next.
I remember the opening of Dubai Mall, and we thought it was mad as we already had the Mall of the Emirates and yet almost overnight they were both busy at the same time.
I have learned never to underestimate this country’s vision and their grand plan.
The population of Dubai is expected to double by 2027 so is it any wonder that mega-developments are rising from the ground throughout the city.
These developers have done their homework. Read more about it here
The week's property discussions include:-
- Marina Vista on Emaar Beachfront is the first off the line post-summer break with their launch of the 3rd building of a planned 27 residential towers on the gated private island that has direct access to 1.5 km of beach. With views over the Palm and the Gulf and in towards a new Marina and the Dubai skyline, we have 1,2,3 and 4 bedroom apartments starting at AED 1.2m on a gentle payment plan of 8 x 5% every 4 months then nothing to pay until completion in December 2021 which is within a few months of completion for the previous two towers. We are now taking registrations, and the developer is offering 50% off the DLD fees if you book at launch please email me here for more information
- Emaar’s summer payment plan promotion has been an enormous success, and they have now extended it to the end of September and included almost all their projects other than the Emaar Beachfront and the Grand in Downtown and the Grand in Dubai Creek Harbour. Pay 50% during construction and 50% post-handover over three years plus they are paying 50% towards the DLD registration fees. Email me for a call to discuss availability
- The above offer has also coincided with a further release of their large 4 and 5 bedroom Townhouses in Maple 3 at Dubai Hills Estate which start at AED 2.7m and handover in December 2019. Check the brochure here
- I am also recommending the two beds in The Collective which start at AED 1m with handover in June 2021 on a 6-year payment plan – see the brochure here, and there is also a possibility that we may be able to source one beds in the same building that start at AED 714k on the same extended payment plan. Email me for more information
- An average of 8% annual net rental guaranteed over 10 years is an interesting proposition, so this week, I took the 20-minute boat trip to the World Islands to check on the Heart of Europe. I have not advised on this project previously but thought I should at least visit the project so I can get an update on progress and have first-hand knowledge before giving you a better overview when asked. I would recommend a chat with me before you sign up for one of those Floating Seahorses at AED 15.75m – The brochure can be viewed here
- If you are are looking for a "buy to let" in Dubai that will offer a combination of growth and high yield, then I suggest a budget in the range of AED 550k to a maximum of AED 1.5m where you can expect a net annual rental yield of somewhere between 7% and 10%. Spend less, and you are likely to have a property of poor quality and low growth, spend more, and you will have growth but low yield. Email me here for my recommendations
Have you read last weeks Bullet Point Property no 93?
View some of our sales and rental listings here
Thank you for reading this far and if you found it useful. please share.