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Property in Dubai Marina
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If you want to live life king size, you won’t find a better place than Dubai to fulfill your dream. While the entire city is known for its luxury and opulence, Dubai Marina, often dubbed as the largest man-made marina in the world, takes this status to another level. One of the crown jewels of the city, property in Dubai Marina is a vibrant district that is home to the world’s best residential towers, hotels, leisure attractions and restaurants. A neighborhood of over 120,000 residents, Dubai Marina is famous for its real estate. For residents and investors alike, the real estate market offers high-end infrastructure, ultra-modern amenities, futuristic vibe, breathtaking views of the sea, and a seven-kilometer-long waterway that is known to be the preferred port for the most expensive and exclusive leisure craft.
Prominent features of Dubai Marina
To understand why Dubai Marina attracts investors from all over the UAE and the world, you need to know about the key features of this neighborhood. For starters, it comprises 10 residential districts, the most famous of which is the landmark Jumeirah Beach Residence development. It dominates the coastal skyline of Dubai Marina. There are over 200 towers in this district and a diverse range of real estate projects including residential complexes and serviced apartments along with mid to upscale hotels. When you consider the overall population and the number of buildings, you will find this to be the largest residential freehold development in all of Dubai.
It is also the best development project in terms of connectivity and transportation. Here, you will find two metro stations, Dubai Tram, a bus network, and ferry services that provide water connections to other prime spots such as Business Bay through Dubai Canal. Because of these reasons and more, Dubai Marina is one of the most favored spots for real estate investors. In fact, in the first six months of 2018, the neighborhood saw over 1,445 transactions that were worth more than AED2.9 billion. However, because it is one of the most established locations in Dubai, investment opportunities are comparatively low regardless of whether you are looking for off-plan or new projects.
Prominent real estate projects in Dubai Marina
Whether you are planning to rent or buy, Dubai Marina has lots of great residential real estate for you to choose from. Most of these properties consist of spacious apartments that offer you luxury amenities and magnificent waterfront views. Being one of the most sought after locations in the city, Dubai Marina attracts real estate investors from around the world. Below are some of the most prominent real estate projects in this area that you should definitely check out before investing.
Developed by Manchester Real Estate Group, Manchester Tower is over 416 feet tall and has a total of 336 apartments. The building is strategically placed and is great for people who need to commute to and from Dubai Internet City or Dubai Media City every day. Furthermore, the residents of the building have access to amenities such as a swimming pool, communal gym, barbeque area, daycare center and kids’ play area. You can buy a studio apartment in Manchester Tower at AED 424,000 on average. The flats also offer a decent ROI of 7.5%. If you want to sell your 1 BHK flat in Manchester Tower, you can expect the prices to go up to AED 553,000 on average depending on the market conditions.
Another relatively new development that gets considerable attention from investors is the Marina Gate. Developed by Select Group, the sleek apartment complex comprises two high-rise residential buildings and one serviced apartment tower that comes with exceptional interiors and state of the world design. Before investing, you can browse the apartments and inspect the floor plans in 2D and 3D formats. From studio apartments to 4 BHK units, you can find a diverse array of properties in these towers. By getting an apartment in the Marina Gate, you can enjoy amenities such as gyms, swimming pools, 24-hour concierge service, and multipurpose sports courts.
To buy a studio in Marina Gate, you would have to spend an average of AED 1.4 million. Such a unit typically offers an ROI of 5.7%. On the other hand, the average price of a 1 BHK apartment is AED 1.5 million and the ROI is 6.5%. With the help of the right real estate agency in Dubai, you might be able to get 2 BHK or 3 BHK flats in Marina Gate for anywhere around AED 2.4 million to AED 3.8 million. These units also offer an ROI of 5.7% to 5.2%. Marina Gate also has 4 BHK apartments which sell for AED 7.8 million on average.
Marina Diamonds is a grand apartment complex comprising six residential buildings named numerically from Marina Diamonds 1 to 6. Built by Diamond Developers, the renowned property development company that is behind the eco-friendly properties at The Sustainable City, Marina Diamond offers studios, 1 BHK, and 2 BHK apartments. You can check out the floor plans in 2D and 3D formats to understand the layout of each property before choosing one. If you are looking for apartments in Dubai Marina that are close to the metro, this is an ideal building for you. Both the metro station and the Dubai tram are easily accessible from this location.
Property prices tend to be high when it is located near the metro, but the convenience alone makes up for it. A studio apartment in Marina Diamond sells for an average of AED 488,000 and offers an ROI of 6.8%. For 1 BHK flats, you would have to shell out AED 662,000 on average, and you can expect an ROI of 7.1%. The average price of a 2 BHK apartment can be AED 897,000 and the ROI is around 6.9%.
Developed by Tiger Properties, this 77-floor tall building called Marina Pinnacle is certainly worth checking out simply because it is one of the tallest residential buildings in all of Dubai. The high-rise offers a mix of 1 BHK, 2 BHK, and 3 BHK apartments. Dubai Media City, which is a prominent commercial hub, is only a short distance away from the building.
The average price of 1 BHK apartment is AED 667,000 and they offer an ROI of 7.3%. The sales price of 2 BHK apartments can be around AED 846,000. These units typically offer an ROI of 7.7%. The 3 BHK apartments, on the other hand, can be priced at AED 1.2 million and they offer an ROI of 6.6%.
This list would not be complete without mentioning the two-tower apartment complex called DEC Towers. Built by Dheeraj & East Coast, the two buildings are connected via a five-storey podium. Here, you will find studio apartments along with 1 BHK, 2 BHK, and 3 BHK options. There are 21 floors in DEC Tower 1 and 26 floors in DEC Tower 2.
The best part about this building is its location. Being a waterfront property, it not only offers stunning views, but it is also a stone’s throw away from Marina Walk. Here, you will find a plethora of great cafes and restaurants. Downtown Dubai is less than 20 minutes away by car, and Bluewaters Island is less than 15 minutes away by car. If you own a vehicle, you will get to enjoy a quick access to Sheikh Zayed Road.
There are 12 retail units on the ground floor. So, you are looking for a commercial property to rent or buy, this building can offer you the same. There are amenities such as a kids’ play area and a swimming pool. The average price of studio apartments can be around AED 453,000, while the ROI is 7.7%. For 1 BHK apartment, you will have to spend around AED 647,000 with an ROI of 7.8%. Lastly, 2 BHK apartments go for AED 910,000 and offer an ROI of 8.2% in rental income.
Hire the best real estate agency in Dubai to make a solid investment
Dubai Marina is an investor’s dream. However, getting into the real estate market of this particular location can prove to be more difficult than you may think. Dubai Marina has only a limited number of available plots. That means construction and investment opportunities are getting tighter every year. With so many top-end developers vying to get their hands on a piece of land in this location, you can expect the competition to be fierce. Similarly because the demand is so high, finding lucrative investment opportunities can be difficult, especially for a newcomer.
The only way to overcome these obstacles is to hire a reliable and reputable real estate company in Dubai. RiseUp, one of the leading names in the business, has been working with investors from around the world since its inception. Our investment advisors are here to make your investment journey as smooth as possible. From market research and analysis to finding the best property, we can do it all for you. We have a strong team of real estate agents with an inside scoop of the best investment opportunities in Dubai Marina. To know more about how they can help you, get in touch with RiseUp today!