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The pandemic caused a temporary downturn in the construction industry in the UAE. However, due to the ever-increasing demand for housing, the situation quickly returned to normal. Real estate in Dubai enjoys increased attention from buyers which are evidenced by the number of transactions registered in 2022, which exceeded the 2021 figures by 46%. This fact is also confirmed by the speed of real estate sales in the emirate in recent years. In many off-plan projects in Dubai, apartments find buyers within a few hours from the start of sales. The more luxurious the area, the higher the demand. Buyers are equally interested in both completed and off-plan housing. Let's consider which completed projects in 2022 in Dubai can be called ambitious. These residential properties are distinguished by high quality, unusual and memorable architectural designs and unique interiors.
Content:
- VIDA Residences in Dubai Marina
- Palace Residences in Dubai Creek Harbour
- Address Harbour Point Dubai Creek Harbour
- Burj Royale in Downtown Burj Dubai
- 15 Northside in Business Bay
- Conclusion
VIDA Residences in Dubai Marina
The new residential complex is in the prestigious Dubai Marina resort area next to the yacht marina and promenade of the same name. It offers apartments in Dubai with a number several from one to four bedrooms. A variety of areas and layouts allows you to choose your option both for investment and for moving to permanent residence in Dubai. The residential community’s advantages include:
- Advantageous location close to a major highway, metro station and several public transport stops.
- Well-developed internal infrastructure with numerous amenities, including a temperature-controlled swimming pool, an equipped fitness centre and landscaped recreation areas.
You can enjoy your leisure time without leaving the 57-storey tower. The apartment prices here start from $395,000.
Palace Residences in Dubai Creek Harbour
The residential complex in Dubai is located in an actively developing area, the hallmark of which will be the Creek Tower, which is under construction now. Upon completion of construction, the building should become the tallest in the world and will house observation platforms, numerous shops and entertainment venues on its territory. The complex includes two skyscrapers, combined with the boutique hotel, Palace Hotel. The community’s residents get access to the services of a 5-star hotel and a well-developed internal infrastructure with numerous amenities, including:
- Access to a private beach
- A spacious swimming pool
- An equipped gym
- Recreation area
- Landscaped areas
Residence prices start at $285,000
Address Harbour Point Dubai Creek Harbour
This is another premium community from the largest developer in the UAE, Emaar Properties. Two towers are located on the banks of a man-made canal and include residential units, as well as hotel rooms. The buildings are connected by a glass footbridge. Inside the residential complex, there is everything you need for comfortable living, from adult and children's pools to 24/7 concierge service and security. Residence prices start at $681,000.
Burj Royale in Downtown Burj Dubai
The new residential complex is a multi-storey skyscraper, from the windows of which you can see the iconic Burj Khalifa tower. The building offers one, two and three-bedroom apartments decorated in a modern style. The complex is located in the central area of Dubai and provides quick access to all the major attractions of the city. The internal infrastructure of the residential community provides comfortable living and includes swimming pools, playgrounds and sports grounds and green recreation areas. The average cost of an apartment here is $490,000.
15 Northside in Business Bay
The 21-storey facility is located on the banks of the Dubai Canal. Its unique feature is a spacious podium area on which there is an outdoor infinity pool. An additional recreation area is provided on the ninth floor of the building. All amenities are provided for residents:
- Children's pool and playground
- A gym
- A sauna
- A barbecue area
- Shops and food outlets in the podium area
The building offers studio apartments and apartments with different numbers of bedrooms. Prices start at $228,000.
Conclusion
- The Dubai real estate market is booming and prices are rising along with demand. At the same time, the cost of housing remains affordable in comparison with the cost of objects of similar size in large cities in Europe and the USA.
- Investments in the housing stock of the largest emirate of the UAE are potentially profitable as the city is rapidly developing and attracting ex-pats. The profitability ratio of apartments in several popular locations reaches 10% which allows you to recoup your investment in a short time.
- It is still possible to invest in real estate in Dubai at an affordable price, while it is not very advisable to delay making a decision, as apartments in off-plan development projects in Dubai literally “scatter”.
Foreign real estate may be available to an ex-pat. It is enough to have a clear understanding of the UAE housing market and know what goals a home buyer sets for himself. Professional brokers who know the real estate market of the Emirates from the inside will help to form this idea and choose the right option for an apartment or villa in the UAE.
