With the affordability segment becoming vital in the Dubai property market, the budget buyers of up to the Dh1-million range now have a variety of property options and areas to make an ideal unit selection. Property experts highlight some of the key zones to consider.
Dubailand consists of a mix of sporting, entertainment, retail and residential communities. The residential options here include affordable and luxurious housing units — from apartments, town houses to villas. The place is accessed through Shaikh Mohammad Bin Zayed Road, Al Khail Road and Emirates Road.
Demir says, “Residential areas such as Arjan and Dubailand Residential Complex (DRC) are one of Dubai’s emerging residential and commercial districts. Arjan has a sales price of Dh1,015 per sq ft. On the other hand, DRC currently has a selling price of Dh785 per sq ft as per Reidin price trends. A buyer can purchase anything from a 350 sq ft studio to a 1,200-sq-ft two-bed unit in DRC and 430-sq-ft studio to a 1,050-sq-ft two-bed unit in Arjan.”
“Some projects worth watching include Phoenix Tower by Phoenix Holdings, Platinum One by ACW Holdings, and Miraclz Tower by Danube Properties,” he adds.
Jumeirah Village Circle
JVC is an emerging gated community offering mid-income housing options — apartments, town houses and villas in a mix of established and off-plan projects. The place is easily accessible from two major highway networks Shaikh Mohammad Bin Zayed Road and Al Khail Road.
Ozan Demir, research and data manager, Reidin says, “Over the last few years JVC has witnessed an upsurge in popularity due to its attractive pricing and affordable housing projects. According to Reidin price trends, the current pricing for the community stands at Dh915 per sq ft. When compared to other kindred areas, JVC’s sales price only lags behind International City, Discovery Garden and Dubai Silicon Oasis. As the size of a specific unit increases the per square feet rate decreases. So with Dh1 million in hand, a buyer can purchase a unit ranging from a 600-sq-ft studio to a 1,000-sq-ft two-bedroom unit.”
The community is still under development, with patches of land under construction all throughout JVC (which is expected to mature by 2020), he says. “The units located towards the centre would have a marginal price difference from units located close to the entry/exit points. As the area matures over the next few years, prices will standardise. Currently, the entry and exit points at JVC are limited, but Nakheel has recently been awarded a Dh18.5 million contract to construct the new JVC access points, which will improve traffic flow and reduce journey times.”
Some key projects are The One by The First Group, Tower 108 formerly known as The Vantage by Damac and Viceroy Dubai (Suites in the Skai) by Five (formerly Skai) Holdings.
Dubai Sports City
Dubai Sports City is a developed community, offering numerous sports facilities and housing options of both villas, apartments that provide good value for money.
Damien Hodgson, senior global property consultant at Gulf Sotheby’s International Realty, says, “The area still requires some finishing to its infrastructure, but it provides all the necessary attributes for a community to operate smoothly.”
“Buyer can get one-bed apartments for Dh750,000 in good-quality towers, studios in the better towers for Dh650-Dh700,000, brand new and off-plan units for Dh999,990 on a 30-70 payment plan and smaller two-bedroom apartments for Dh1 million,” says Hodgson. “The current rate is Dh750-Dh900 per square foot. Buyers with a Dh1 million budget can get a studio of 450 sq ft to a one-bedder of 1,000 sq ft or a small two-bedroom apartment of 1,100 sq ft. The Elite Residence offers good value for money, The Matrix is the best building and the Canal Residence boasts of a good location.”
Arjan is an emerging, mixed-use community within Dubailand, offering a mix of affordable residential, hospitality and retail units. Spread across 10 zones with 157 plots, the place is accessible from Shaikh Mohammad Bin Zayed Road and Al Khail Road through Umm Suqeim and Hessa Street.
Lynnette Abad, partner and head of Property Monitor, says, “The area is currently undergoing construction for a number of developments and is expected to witness a significant number of projects being handed over by 2019 including Vincitore Boulevard and Resortz by Danube offering studio and one-bedder for less than Dh1 million. Options for ready apartments for a budget of Dh1 million are on projects like Lincoln Park, and Vincitore Palacia — which is expected to be handed over in Q3 2017. Community prices are at Dh794 per square foot for the ready property.”
Dubai South is set as clusters and includes residential, commercial, logistics, aviation, humanitarian and even a golf district. Once completed, it will be one of Dubai’s prominent locations that houses the Al Maktoum International Airport and Expo 2020 Dubai.
“Dubai South is a new and completely under construction area, offering a large number of options for off-plan investments,” says Abad. “The key projects are expected to be handed over before 2020, including MAG 5 Boulevard [Q3 2018], The Pulse , Golf Views  and Urbana  in Emaar South, which provide studios and one- and two-bedroom apartments within the Dh1-million mark.” “The present pricing stands at Dh888/sq ft, offering a range of properties within Dh1 million, from studios starting at 390 sq ft to two-bed apartments of 1,289 sq ft and town houses up to 1,832 sq ft.”
Dubai South is accessible via Shaikh Mohammad Bin Zayed Road and is served by RTA buses. Work is under way to extend the Dubai Metro line to the area and for a tram network. It is also near key employment and entertainment areas.