Dale Vine, a British expat, owns a one-bedroom apartment in Jumeirah Village Circle (JVC), and chose the up-and-coming community as his Dubai address for its affordability, location and long-term investment potential. After three years as a tenant with stretches in Tecom, The Springs and Jumeirah Beach Residence, the Dubai-based asset manager decided it was time to invest.
“With immediate access onto all three of the major highways connecting the city, its major amenities and the social scene, JVC ticked the boxes location-wise,” he says.
“Our offices are located out towards Dubai South and the Expo site, so that was another plus. When I was considering the long-term picture, there are also a number of schools within a 10-15 kilometre radius,” he adds.
Affordability and quality
Price was another major consideration, as he explains: “JVC is a development that allows people an opportunity to get on the property ladder from the affordability perspective - as long as they have the capital for the 25 per cent deposit, which is a huge consideration.
“I dithered briefly with some reluctance on my part in downsizing from a two-bed rental, but when it came down to it, the affordability and quality won out.”
Vine was sold on the one-bedroom apartment in the low-rise Belgravia 1 block, from developer Ellington Properties, the second he viewed it. He says: “After around three months of research, we factored it down to JVC and then it was all about finding a quality investment.
“I liked the quality of the project, from Italian marble bathrooms and well laid-out kitchens to the wooden laminate flooring. It was definitely the little details that set the tone and as soon as I saw the apartment, I knew it was the one.”
His original intention was to buy off-plan but with the 50 per cent capital deposit requirement a no-go, Vine found his new home on the secondary market.
Community feel
Extremely happy with the current facilities on offer, Vine is looking forward to seeing the area develop further, as he explains: “There’s a Spinneys just five minutes walk away, a convenience store at the end of the block, couple of pharmacies within easy reach, a park opposite with a kids’ play area and jogging track, plus a hairdresser and bakery.”
His block is also well served when it comes to leisure facilities with a central swimming pool, modern gym, kids’ crèche space and yoga/exercise studio.
“During the recent Dubai Fitness Challenge they organised free classes for residents, which was a nice touch and helps create a community atmosphere,” he says. The community vibe is one of the selling points he believes adds to the appeal of the building, which is home to other young single professionals, families, couples and a mix of nationalities.
A finance expert by profession, Vine knows his way around the banking world, but decided to engage a private mortgage broker to explore all the options and facilitate the process. He says: “There’s a lot involved in purchasing a property here, and from the outset I asked for a complete breakdown of all the potential costs and fees, right down to turning on Dewa services.”
A mere two months after moving in, he’s firmly ensconcewd in his new home “I love the apartment and the area and I know I made the right choice as I’ve already had people asking if I’m willing to sell.”
