South of the Al Khail/Sports City roundabout and beyond the dusty expanses of IMPZ, a line of near-finished villas stand on the crest of a gentle rise. From the outside, Jumeirah Golf Estates (JGE) looks like just another Dubai residential community. But once you're in one of its fairway-facing villas or out on the championship golf courses, you might think differently.
The development was in the spotlight in December, when its first two courses, Earth and Fire (both designed by golfing great Greg Norman), hosted the Dubai World Championships, the final tournament in the 2009 European Tour. Earth's landscaping is inspired by European and North American parkland courses, with its fairways flanked by tanbark, hence the name. Fire is desert themed, with terracotta sand traps. The Water and Wind courses and their surrounding neighbourhoods are still a work in progress.
Of course, the main attraction for investors are the villas that line these courses, 75 per cent of which face the fairways, with the remainder overlooking lakes and landscaped areas. All the existing residences are attractive yet understated, with the master developer JGE policing building standards and aesthetics. Mark Leale of Fine and Country says the undulating courses are unlike any in the UAE, as are the views from the villas. "The varying levels of the courses together with the clever integration of the residences means that your view is not, as in many cases in Dubai, a sea of properties."
Short game
Sub-developments adjacent to Earth and Fire are options if you want to move in soon. Both courses are completed, and adjacent communities are nearing handover, with many properties already on the resale market.
"The quality of build and finish being delivered by the master developer and sub-developers is superior to that of many other residential properties in the UAE," says Mark. "The limited number of villas within the project also give it a certain exclusivity."
Communities on the Earth course on the resale market are Lime Tree Valley, Olive Point, Sanctuary Falls and The Sundials. Alongside both the Earth and Fire courses are Whispering Pines and Flame Tree Ridge while Fireside, Sienna Lakes, Valencia Grove and Juniper Way overlook the Fire course.
Roads in the development are complete while around these communities will be 16km of jogging and cycling tracks linking parks. "Prices range, depending on size, location, view and the motivation of the seller," says Mark. "They start at about Dh3.8 million and rise to over Dh20 million." One community is Lime Tree Valley, whose Tuscan-styled villas will begin handover this summer, according to Roger Wakeham, director of CHI, the developer. "We're eagerly awaiting delivery of the site infrastructure as the villas are now complete and ready for handover."
More than 80 per cent of the villas have been sold, he adds. "However, CHI has retained a small number of properties for sale and for future rental options."
Lime Tree Valley has eight villa types with 30 variations in floorplan. Build and fixtures are high quality, and early purchasers had the option of making changes to the layout. "Each villa at Lime Tree Valley has been planned with the objective of providing a variety of options for the discerning homeowner." Villas are four- to six-bedroom, says Roger, "ranging from the homely and intimate to the grand and opulent. Beyond the physical infrastructure, the views from the villas could certainly be described as unique - they face on to a beautifully maturing championship golf course."
Sweeteners and tailoring
Mark is also a homebuyer at Olive Point, and was impressed at how he could have his villa tailored. "As owners, we were able to select from a suite of choice when picking finishes and fittings such as flooring, bathrooms and kitchens. As a part of our home, we will also receive Bang & Olufsen audio visual equipment." Buyers at other sub-developments often get sweeteners, such as those at Sanctuary Falls who received membership of Quintessentially concierge services.
Another project Mark is impressed by is Whispering Pines, which has cobbled streets and villas set at different levels. "It has a very different feel to anywhere else in the UAE. Some of the villa owners will have also received their own golf buggies as a part of their purchase."
Ala'a Nagawa, head of marketing and PR at Leo Sterling, says all projects are of a high quality. "All of the developments have to meet very high standards, and some of the biggest names in construction, such as Arabtec, are involved with these projects. Most developments house world leading brands. For instance, Sanctuary Falls has kitchens by Scavolini and Villeroy & Boch. This is the kind of finishing and excellence you can expect at JGE."
The 19th hole
Adjacent to the Earth and Fire courses, the Norman clubhouse, once complete, will feature nine restaurants, a gym, a spa and pools. It will also include a tennis academy and the European Tour Performance Institute, which will include a golf academy. The structure is complete and work is under way on the interiors. In the meantime, the temporary clubhouse is more than adequate with a pro shop, bar, terrace and a dining room for members and guests. The clubhouse - which will have views of the course and the Dubai skyline - is a major selling point, says Roger. "It is poised to carry on from the current facilities as the heart and lifeblood of the social scene of JGE."
Investment opportunity
Golf estates always attract discerning and wealthy homeowners, says Mark. "Add to this the fact that the courses will be home to the Dubai World Championship for the coming years and I believe there will be continued, increasing interest in the residences."
However, sales activity is currently subdued in Dubai with transactions largely concentrated on completed properties, he says. "This is for a number of reasons: firstly, most buyers are homeowners and they want to be positive that they can move into a property, buyers are preferring to be able to see the finished article before committing and, importantly, banks - with the limited mortgage lending that they are undertaking - have very little appetite for incomplete properties. So with limited activity prices remain reasonable when compared to completed properties of inferior quality in less exclusive areas. As we near anticipated delivery of many of the villas in JGE later this year, I see an increase in the level of interest in the project and potential for an uplift in prices."
Lastly, there's the lifestyle factor. Roger says that living at a golf estate is as close as Dubai residents can get to living in the countryside. He says this, combined with the global recognition that the Dubai World Championships has drawn, means that "the investment opportunities at JGE are obvious".
Sales and financing
Although no properties have been handed over yet at JGE (some are scheduled for handover in summer), many villas are already being advertised on the resale market. For prospective investors, the Gulf Lenders Network is the exclusive partner of JGE and provides financing options for buyers interested in the sub-developments. According to the JGE website, mortgage providers include HSBC, ADCB and Dubai Islamic Bank, most of which also offer Islamic-compliant mortgages. For more information on the development visit www.jumeirahgolfestates.com
