After a rather downbeat 2016 for the UAE property market, things have started to pick up this year.
The Dubai Spring 2017 Property Market Outlook report by real estate consultancy Cluttons shows a slowing rate of decline across all sectors of Dubai — suggesting increased stability and the likelihood of the market bottoming over the next few months.
Even so, it has been an up and down couple of years performance-wise for many segments of the sector. There are always exceptions that buck the trend though, and in the UAE it seems sports communities are still a safe bet, and in 2017 they could see something of a boom.
Dubai enjoys some of the best sports-themed residential developments in the world, from Sports City — home to the Dubai International Cricket Stadium — to Jumeirah Golf Estates, which hosts Race to Dubai each year on its Championship course.
Worldwide trend
Globally, the concept behind these niche communities is to develop high-quality properties designed around a sport with a committed following — generally golf or equestrian sports — and lure buyers who want to live their passion on a day-to-day basis and be enveloped in a community of like-minded individuals.
In the UAE, this model has been highly successful — so much so that new sports-related projects are now sprouting up on a regular basis.
“In 2017, we have seen the launch of several residential developments centred around new, world-class sporting venues including The Residences at Al Habtoor Polo Resort & Club, and Damac Hills at Trump International Golf Course,” says Ryan Kasper, Luxury Rentals Director at UAE real estate firm Luxhabitat.
“These new areas are attracting [expat] residents who appreciate the equestrian and golf lifestyles they enjoy back home, now available at the same global standard here in Dubai.
“We look forward to the arrival of the next major golf community at Dubai Hills in Mohammad Bin Rashid City, which is set to raise the bar for luxury golf course living.”
But what is it about life in these slightly unusual developments that is so appealing — is it simply access to first-class sports facilities, as well as a ringside seat on the major related events?
Umer Ali, Sales Director at UAE portal Propertytrader.ae, explains that the attraction is down to a deeper connection.
“What you should remember is that a lot of these developments centre on sports with a huge, passionate global following and an accompanying glamorous lifestyle.”
Ali adds that his portal has seen a steady increase in interest in the various sporting areas across Dubai over the past three years, and cited the new Al Habtoor Polo Resort & Club as one to watch in 2017.
Located in Dubailand, the soon-to-be-completed project is backed by Mohammad Al Habtoor, Vice-Chairman and CEO of Al Habtoor Group, and offers the opportunity to lease a luxury villa in close proximity to magnificent equestrian facilities.
Speaking to media at the end of last year, Al Habtoor said the project had pushed through despite the dip in the economy and that he felt confident the project would be very popular.
“We had some challenges like any other business in this region due to the oil [price] drop even though Dubai has a diverse economy,” he said. Al Habtoor Polo Resort & Club is essentially an upmarket residential environment for polo lovers, with the internationally renowned St Regis Hotel as the centrepiece.
Older players
The established sports communities continue to do well too. For instance, Motor City in Dubai — with its huge autodrome — is continuing to expand its range of apartments, shops and restaurants for a community that has been growing steadily since 2004. The first phase of a new Motorsport Business Park is also currently under way here.
“We have been overwhelmed by interest in the new project and have even contemplated a phase two for 2018,” says Richard Birch, General Manager of Dubai Autodrome.
Meanwhile, the well-established Jumeirah Golf Estates recently announced a new facility called Green Sports Hub by former Danish professional footballer Ebbe Sand, which aims to encourage increased sports tourism in the UAE.
Slated to open in 2018, the hub has a zip line, a skateboard park, a research centre and a hotel.
“Jumeirah Golf Estates is already a thriving community of families and international visitors, and the launch of Green Sports Hub is a milestone development that cements Jumeirah Golf Estates’ status as the region’s leading residential golf community committed to sustainability,” said Yousuf Kazim, CEO of Jumeirah Golf Estates, in a statement.
Abu Dhabi is also capitalising on the sports community boom, with Aldar Properties recently kicking construction off for Mayan, a luxury golf-centred residential development located on Yas Island.
“Since we launched Mayan last year, we have seen strong interest and we expect this to continue,” said Talal Al Dhiyebi, Chief Development Officer at Aldar, in a statement to media.
Check out these addresses
Victory Heights, Dubai
Properties offered: Spanish-style villas and town houses from
Dh3 million
Jumeirah Golf Estates, Dubai
Properties offered: Mediterranean-style villas from Dh6 million
Akoya by DAMAC
Properties offered: Studios and apartments from Dh500,000 Contemporary villas from Dh1 million
Emirates Hills, Dubai
Properties offered: Huge mansions in different styles from Dh25 million (varies greatly). The adjacent Montgomerie Maisonettes start at Dh7 million.
Al Mayan, Abu Dhabi
Properties offered: Studios up to four-bedroom apartments from Dh1.3 million; prices TBC on golf course and beachfront villas
Akoya by DAMAC
Properties offered: Studios and apartments – from Dh500,000 Contemporary villas – from Dh1 million
