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The Essential Guide: Dubai Marina

26/09/2018 - Dubai Investment News
Dubai property investment opportunity - The First Group

This mini-metropolis is one of Dubai’s most popular and exciting districts

OVERVIEW: One of the jewels in the crown of New Dubai, this vibrant district is home to world-class hotels, residential towers, restaurants and leisure attractions. Acknowledged as the world’s largest man-made marina, the development is home to more than 120,000 residents and is a haven for visitors to the city, thanks to its futuristic vibe, ultra-modern amenities, stunning sea views and beautiful 7km-long waterway, which is the favoured port for the city’s most expensive and exclusive leisure craft.

NEW DUBAI’S HEARTBEAT: Dubai Marina is home to 10 distinct residential districts headlined by the landmark Jumeirah Beach Residence development, which dominates the marina’s coastal skyline. The district houses more than 150 towers with residencies mixing with serviced apartments and mid- to upscale hotel developments. It is the largest residential freehold development in Dubai in terms of the number of buildings and overall population. It is also the city’s best-connected development in terms of transportation, being home to two Metro stations, a bus network, the Dubai Tram, which links with Al Sufouh, and ferry services, which offer water connections to Business Bay via Dubai Canal.

PROPERTY PIPELINE: As one of Dubai’s most established modern developments, Dubai Marina has a limited number of plots available for construction. According to data published by property analyst lookup.ae, there were 148 ready or occupied buildings in February 2016, with 23 buildings under construction at that time, equating to 28,500 ready apartments and a pipeline of 4,800 units under construction.

THE FIRST GROUP’S UPCOMING DEVELOPMENTS: The First Group currently operates two landmark properties in Dubai Marina, with another currently under development.

Wyndham Dubai Marina: The four-star, 497-guestroom property is managed by Wyndham Hotels & Resorts – the world’s largest hotel management firm. It ranks among the most popular upscale hotel developments in the Marina, and offers a host of top-quality amenities, including two F&B outlets; a spa, gym and swimming pool; and meeting and conference events space.

TFG One Hotel (operating as Millennium Place Dubai Marina): Currently under development, this upscale property will mark the debut of the Millennium Place brand in one of Dubai’s most popular precincts.Millennium Place is a contemporary lifestyle hotel concept targeting modern travellers and is one of operator Millennium Hotels & Resorts’ fastest-growing brands.

Al Dar Tower: This 40-storey tower features 260 units, comprising studios, 1-, 2- and 3-bedroom apartments and 4-bedroom duplex penthouses, all equipped with luxury amenities including a fully-equipped kitchen, dining area, washing machine and complimentary high-speed Wi-Fi services.Overlooking the Arabian Gulf and with views across to Palm Jumeirah, the building is well-located and popular among business and leisure travellers visiting Dubai.

HOT PROPERTY: Dubai Marina was the second most-popular location for property investors in Dubai in the first-half of 2018, with 1,445 transactions worth AED2.9 billion. The district was edged out by Business Bay to the top spot (1,934 property transactions recorded worth AED4.2 billion) and was just ahead of third-ranked Al Merkadh, which reported 1,262 transactions valued at AED2.1 billion.

NEED TO KNOW

YEAR OF LAUNCH: 2003

LOCATION: New Dubai (Interchange 5) overlooking the Arabian Gulf

TOTAL AREA: 4,645,000 sq metres

PLANNED BUILDINGS: 175 towers

EST. POPULATION: 120,000

TRANSPORT CONNECTIONS: Dubai Metro Red Line (two Metro stations); public bus services; the Dubai Tram, providing services to Dubai Media City/Al Sufouh; ferry services, offering connections to Business Bay via Dubai Canal; direct access to Sheikh Zayed Road (15 minutes’ drive to Al Maktoum Airport; 20 minutes’ drive to Dubai International Airport).

Dubai property investment opportunity - The First Group



    
    
       
	
    
	
	
    
    
    
    

    
    
    
    
    
    
    
   	
	
    
    
    
    

    
    



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