Dubai Creek Harbor: One of the Most Ambitious Real Estate Projects in the UAE

The desire to buy a villa in Dubai in the UAE is due to various reasons: favorable climate, high degree of security, excellent quality of medical care, and the absence of certain taxes (on the income of individuals, on added value, on real estate). 

With the development of the most grandiose project of our time, Dubai Creek Harbor, interest in buying a home in Dubai has increased several times. This is largely facilitated by flexible conditions for the purchase of properties: a fixed price, the ability to make payments in installments, the possibility of buying both an individual and a legal entity, and fractional ownership of housing. At the moment, housing prices in this area start at EUR 300,000 (an apartment of approx. 70 sq. m with 1 bedroom). The first installment is 10% or more, depending on the total cost of the property.

 

District overview

The community is divided into several sub-communities: The Island District, Creek Beach, Dubai Square, Icon Bay. The youngest area is Grand at Dubai Creek Harbour. Its construction began in 2018. In the future, the community plans to build the largest Chinatown. The international airport is only 10 minutes away. There is a similar distance to the city center.

Shopping centers and malls

In the community itself, the construction of the largest mall is underway, under the roof of which more than 800 stores will be united. It will also have many restaurants with menus from around the world. Near the district is the legendary Dubai Square. This is a concentration of retail outlets with world brands, entertainment venues, restaurants, and cafes.

Elite restaurants, bars, cafes

The largest number of restaurants is expected in the region’s shopping mall, which is being built, but this does not mean that it will be difficult to choose before it opens. The entire cuisine of the world is represented in the community:

  • Spanish at Casa De Tapos (Casa De Tapas).
  • French at Brasserie Du Park.
  • Arabic in Cielo Sky Longe (Cielo Sky Lounge).
  • NoÉpe has a fusion menu. 

These are just a few of the places where you can book a table. Also in the community, there are many coffee shops, confectioneries, and fast food chains of world brands.

Prestigious beaches nearby

The community has access to the harbor and artificially created Creek Beach. Its length is 75 meters. There are cafes and restaurants on the coast, there are conditions for water sports. If you wish, you can visit the beaches of neighboring communities. Palm Jumeirah or JBR is about half an hour away.

Rental cars, yachts, balloons, and helicopters

Since the area was originally associated with two major seaports, there are no difficulties with renting yachts. You just need to choose a ship with the desired number of seats and the duration of the trip. Car rental is also possible, it requires an international driver’s license.

Dubai Creek Harbor is a new point of attraction 

The ambitious project of Emaar Properties is a competent combination of cutting-edge construction technologies and respect for nature, which is manifested in a special water filtration system and the use of solar energy. The architecture of the area is built in contrast: high-rise residential buildings and cozy villas side by side in the same area. Within walking distance are the yacht club, the Ras Al Khor nature reserve, where pink flamingos live, and a sandy beach stretching for 75 meters along the coast.

The total area of ​​the coastal region is about 6 sq. km, of which:

  • 7.3 million sq. m allocated for residential real estate;
  • 820,000 sq. m – retail facilities;
  • 66,000 sq. m – entertainment areas, and cultural facilities.

The Dubai Creek Harbor area is interesting both for holiday property buyers and investors, and businessmen, as it is located next to the business part of Downtown.

Market analysis and forecasts for property for sale in Dubai

According to the Dubai Land Department, 2021 has been a fairly successful year for the real estate market. Already in 2022, the volume of purchase and sale transactions exceeded the figures for 2020 by 88%. Analysts predict a stable rise in real estate prices. Especially often apartments are bought (about 60% of the total number of transactions).

This is due to their high profitability. The cost of sq. m is growing from quarter to quarter. Apartments with 2 bedrooms have the highest yield – 5.8%, for housing with 3 bedrooms, this figure is 5.1%, with one bedroom – 4.6%. 

Real estate agency in Dubai

Investing in luxury real estate in promising areas of Dubai today is extremely profitable. Find out about the most promising offers on the Ax Capital agency website.

 

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