Every community in Dubai has its own unique charm, but how do these individualities directly impact the emirate’s real estate market? What are Dubai’s most popular areas and why? The importance of location in Dubai simply cannot be underestimated.
In this edition of Expert Advice, we sat down with Mark Richards, the Sales Director of LuxuryProperty.com, to delve deep into the many facets of this intriguing subject.
Watch the full video below or keep reading for highlights from the episode:
The Appeal Of Communities In Dubai
Word on the street is that JVC is the residential area of Dubai. Our 2021 Dubai Annual Market Reports and high traffic on the Area Guides and Building Guides show how JVC has become synonymous with quality and affordable residences in the city.
Richards believes that this popularity stems from the availability of diverse housing in the area, including high-end, at great prices. Citing Belgravia by Ellington as an example, he believes that people seeking a quality home in a central location would have JVC high on their list.
We then decided to look at three unique areas of Dubai that have amassed popularity amongst property seekers: Palm Jumeirah, Dubai Marina and Arabian Ranches.
In Mark’s considered opinion, one of Palm Jumeirah’s many appeals to property seekers is its undeniable iconic status. Being a unique and luxurious palm-shaped island with an abundance of world-renowned attractions and landmarks has firmly The Palm’s place in global consciousness.
In terms of residences, Mark observes that the sheer variety of high-end properties, like those on the Crescent and the Fronds versus more affordable options such as the Shoreline Apartments, Golden Mile and Marina Residences, combines to attract a wide range of property seekers to The Palm.
With regard to Dubai Marina, Mark again attributes the area’s popularity to the variety of properties available, as well as the urban, waterfront lifestyle on offer. A mix of luxury and affordable properties attract diverse groups of tenants and buyers to reside in Dubai Marina.
We then move on to Arabian Ranches, a different kind of community to those previously discussed. Arabian Ranches was one of Dubai’s first suburban villa communities and has garnered immense popularity in the intervening years, owed in no small part to its plentiful amenities and impressive infrastructure.
Mark notes that the golf club, schools and sense of community have played a role in its popularity with families.
Behind Real Estate Investments
A discussion on Dubai real estate is never complete without the mention of investors. On comparing real estate investors and first-time homebuyers, Mark observes the stark differences between the two mind-states. While investors approach real estate rationally, by looking at numbers and higher ROIs, home-buyers are understandably more likely to make an emotion-based purchase.
Mark believes that developer profiles play a key role for investors when assessing properties for potential investment. He notes Emaar – a developer that has built a reputation for creating world-class communities around the world – as an example.
Their development, Emaar Beachfront, did not exist until a few years ago. It was the developer’s reputation in the market, along with the project’s vision and amenities, that caught investors’ and buyers’ interest.
Mark notes his ease of finding qualified buyers with Bayut, especially via the Checked and TruCheck™ badges. These validation tools have helped increase their listings’ visibility, which has led to his team generating qualified leads and closing deals.
About Mark Richards
Mark Richards is the Sales Director of LuxuryProperty.com. He has more than 15 years of experience in real estate, working his way up from broker to managerial and director-level positions.
A passion-driven individual, he has worked in Dubai, Abu Dhabi & Ras Al Khaimah, and has an in-depth understanding of each market. His commendable leadership skills and client-focused approach, along with his consistent efforts to drive his sales team to excel, have led to his name being synonymous with success.
LuxuryProperty.com is a premier real estate brokerage in Dubai that specialises in luxury property. Their remarkable team of professionals works to connect international clients with exclusive properties in the city. Be it a first-time buyer or a seller, they ensure that all their clients’ needs are met, offering professional private client advisory services.
Their dynamic platform provides a seamless experience for property seekers, offering an experience beyond the ordinary.