Why Karama remains a big draw in Dubai’s rental market

Dubai: The old district of Karama remains a big draw in the Dubai rental market because of its affordability, vibrant community and central location, realty majors said.

Dilip Daswani, managing director of Capitol Real Estate, which manages around 200 units in the area, told XPRESS, “Karama is one of the most vibrant communities in Dubai, with more restaurants perhaps than in any other area. It has a multicultural population, is centrally located and has a Metro station within walking distance. He said the area also has bustling shopping centres like Burjuman and Karama Centre in its vicinity.

Value for money

According to him, rents in most Karama buildings have not gone up at the rate they have in other areas because they are relatively older. But the apartments are spacious and are considered great value for money. He said rents range from Dh60,000-70,000 for a one bedroom flat, Dh70,000-90,000 for a two bedroom and Dh90,000-120,000 for a three bed apartment.

Not all buildings, however, are old. New properties like wasl hub and wasl duet, which have completed their handover, are changing the very landscape of the community with their glitzy new units.

Zainab Mohammad, chief property management & marketing officer at wasl properties, said, “A significant percentage of inquiries we receive are related to residential and commercial space in established areas such as Al Karama.”

The rental prices for wasl hub and wasl duet, which feature 312 apartments with parking, start from Dh81,500 for a one bedroom, Dh105,550 for a two bed and Dh135,550 for a three bedroom.