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Dubai’s Best Area To Invest In Property

Dubai is a favorite destination among people looking to buy an investment property — and for good reasons. Its real estate market has been in robust shape over the years and estimates suggest that things will be even better in the coming years, especially with the pandemic phasing out. Real estate investors are spoilt for choice when it comes to picking a location, as Dubai boasts several hotspots. However, two areas particularly stand out. These are MBR City and Downtown Dubai. If you are looking to buy an investment property in Dubai, you may well want to start with either of these locations. Whether you are a beginner searching for your first investment or a real estate expert, both offer great returns in terms of lifestyle offerings, capital gains, and ROI. WHAT MAKES MBR CITY SPECIAL?Four reasons make MBR City a favorite among real estate investors. These are: LOCATIONMBR City is well-connected to the rest of Dubai, and the residents of this new master-community enjoy easy access to all important streets and highways. Plus, Dubai International Airport is just a 10-15 minutes drive away. As a result, it provides great connectivity to foreign travelers, visitors, and residents. PROPERTIESIn this new master-community, you will find a mix of residential communities and commercial establishments from many developers like Ellington Properties. In MBR City you will find a broad selection of luxurious villas and apartments, as well as mid-range apartments and townhouses within lush green, sustainable communities. LIFESTYLEThis part of the city is all set to become a popular destination among tourists and families with a range of services, amenities, and facilities catering to different cultural backgrounds. RETAIL AND SHOPPINGThe Meydan One Mall is home to Dubai’s biggest indoor ski slope and 620 retail shops, including a hypermarket and two major department stores. The residents of MBR City will enjoy easy access to one of the most exciting retail destinations in Dubai. LEISURE AND ENTERTAINMENTThere’s no shortage of entertainment options in MBR City. Among the most popular ones are Crystal Lagoons, the biggest man-made lagoon in the world, Meydan Golf Course, a 9-hole golf course spanning more than 7,000 yards of natural lakes and tee options, and Meydan Grandstand and Racecourse, one of the most popular race courses in Dubai. WHAT MAKES DOWNTOWN DUBAI SPECIAL?In Downtown Dubai, you will find thoughtfully designed spacious apartments. Some of the main reasons that make this part of the city popular among renters and buyers alike are as follows:   SOME OF DUBAI’S BEST SCHOOLS ARE IN DOWNTOWN DUBAIThere are several famous schools as well as nurseries in and around Downtown Dubai. These include Jumeirah International Nursery and Blossom Downtown Nursery. In addition to top schools and nurseries, the Downtown Dubai area is a few minutes drive from two of the best hospitals in Dubai, Emirates Hospital and Mediclinic Parkview Hospital. IT IS A CULTURAL AND NIGHTLIFE HOTSPOT IN DUBAINot only Downtown Dubai is home to the famous Dubai Mall, Dubai Opera and Burj Khalifa, but it also boasts some of the very best nightlife and dining venues that the city has to offer. Plus, there are many nightclubs and bars in this part of the city. IT IS CLOSE TO JUMEIRAH BEACHLiving in Downtown Dubai means you will never be far from the beach. If you are an avid beach-lover, that’s really good news. Jumeirah Beach is just a few minutes drive away from Downtown Dubai. OTHER OPTIONSApart from MBR City and Downtown Dubai, some of the other locations that you may want to add to your list include the following:

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DUBAI-BASED ARTIST MADIHA’S PAINTING ‘INTO THE SHALLOWS’ GRACES THE MAIN LOBBY OF BELGRAVIA III

Is architecture an art form? Or is art infringing into architectural territory? The lines between them are often blurred yet somehow, they find beautifully entwined ways to enchant. At Ellington Properties we encourage this infinitely stretching conversation between art and space through Ellington Art Foundation. The initiative, now in its 8th year, has attracted an eclectic mix of artists and produced works of art that adorn our properties. The newest entrant in this ever-growing community of artists is the interior designer turned painter Madiha, gracing Belgravia III’s main lobby with her painting “Into the Shallows”. Madiha is from Pakistan and has been living and working in Dubai for the last seven years. The first step in her initiation into artistic space was as an interior designer, working with leading design organizations. During the Covid-19 lockdown she found herself gravitating towards painting – an antidote to the heaviness surrounding the world. In painting Madiha found her artistic passions renewed. It became her way of interacting with her surroundings and sharing the joy that it brought her with the world.   Her work is inspired by the art world, but she also experiments and explores the possibilities or her own imagination. Her artistic sensibilities are inhabited by the works of artists like Jean-Michel Basquiat and Vincent van Gogh. Despite the riot of artistic influences that permeate her mental space, she has developed her own process. Detailing her process, she said, “Whenever I start a painting, whether it’s a commission or for my ongoing series, I always take time to think it through before starting on actual canvas, from doing a lot of research to creating endless compositions and swatches either on sketchbook or digital, to make sure it’s aesthetically pleasing, well balanced and perfectly aligned. I believe when you’ve been associated with the design industry, obsession with forms and composition comes naturally.” ‘Into the Shallows’ is an attempt to condense the expanse of the ocean and its magnificence onto the canvas. Employing acrylic and metallic embellishments, she captures the movement and mood of the sea by layering and blending many tones and hues. With this artwork she heightens the drama of the ocean and then lays it on the canvas for the residents and visitors of Belgravia III. Since switching to painting she has collaborated with multiple designers and art consultancies within and outside the UAE, majoring on large-scale contemporary abstract art in various mediums. She is not just creating art but also enjoying the process of its creation. It motivates and inspires her to live life to the fullest.

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Dubai

Dubai’s post-pandemic properties rental market trends

The UAE is one of the few countries that have managed coronavirus well. Thanks to the great success of the UAE’s vaccination drive, the Covid-19 cases in the country are presently at the lowest in the last one year. This, coupled with the fact that Dubai Expo 2020 — touted by many as the biggest global event ever — is currently underway, has pushed the rental market upwards. All experts are unanimous in their opinion that the buildup to this global event has been spectacularly good for the UAE’s economy. Plus, they believe the positive regulations adopted by the government have helped spur business growth in the region. At present, the demand for certain class of real estate properties is very high, so much so that it exceeds the supply. As a result of this, rentals prices as well as real estate prices have gone up. This is particularly true for areas which are close to the mega event. All prominent residential areas near Expo 2020 have seen a remarkable surge in rental demand. These include, among others, the following: Jumeirah Village Circle Dubai South Dubai Investments Park Al Furjan Jebel Ali Dubai Production City Dubai Motor City Dubai Sports City As expected, Dubai Expo 2020 has drawn visitors in large numbers. According to many sources, during this month, Dubai will see no fewer than 25 million visits, which is not a small number by any means. Many of these visitors want to live in close proximity to Expo 2020, and this has resulted in an exponential increase in the demand for rental properties in all the aforementioned areas. Compared to this time last year, the buzz in Dubai is completely different now. Much of that is due to the re-opening of schools, resumption of most flight routes, re-opening of offices, and restaurants and malls at increased occupancy. Of course, it goes without saying that the successful inauguration of Expo in October 2021 has helped too. The successful transition to normalcy with comprehensive public safety and health measures in place has heralded the end of the coronavirus-related restrictions in the country and pushed the real estate industry’s recovery. Here are some important post-pandemic property rental statistics: The 3rd quarter of 2021 witnessed an upward trend in the real estate market. The affordable housing registered an increase of 14% whereas the luxury housing surged by an impressive 30%. Economists are of the opinion that the fourth quarter will be no different, perhaps even better. The reason for this optimism is obviously the commencement of Dubai Expo 2020. Dubai Expo 2020 recorded over 411,000 visitors in the first 10 days. Before the event ends, experts believe near to 25 million people will visit Dubai and the UAE. From these impressive figures, one can easily ascertain that areas in close proximity to the Expo site will be in high demand during October 2021 to March 2022. Both the rental demand and rental prices will grow in such places. Residential rents in Dubai will continue to improve in 2022, but the rental recovery, in all probability, will be segmented. Segments that are likely to see the most growth are prime apartment locations and villa districts. On the other hand outer apartment districts and most affordable districts might see slower stabilization rates. The apartment rates increased by 3% on average during April, May, and June 2021. In contrast, villa rates increased by 8% during the same period. With many tenants still preferring to work from home, there’s a greater demand for rental units that offer better amenities and greater private space. Similar trends are visible in popular localities like JBR and Dubai Marina. However, villa developments like Victory Heights and Arabian Ranches posted much better improvements both annually and quarterly. How tenants are paying has also changed. Tenants prefer to pay in more cheques instead of one or two payments that was the trend some time back. Most tenants are going for rental renewals, which indicates that renters don’t mind an increase in their rent as much as the moving costs and the hassle linked to it. For sure, Dubai Expo 2020 has boosted the rental market. However, as to the question whether this is a long-term effect or not, that is something only time will tell.

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