Dubai Marina is a prime waterfront investment in the city. Did you know that in the first quarter of 2023, 767 transactions took place in the Marina alone? It is a known fact that Dubai is a floating business site for real estate, but a high number of the transactions that make the market trend was obtained and gathered in the Marina. As a result, flat prices in Dubai Marina are one of the highest in the city.
- The forces of demand and supply and rapid interest in the venue impact the prices and make them rise.
- Also, being a prime area makes developers consistently improve the property types that are being developed in the area of the town.
- Many luxurious developments, tour spots, restaurants, and relaxation centers.
How Much is the Dubai Marina Real Estate Worth?
The Dubai market as a whole is worth billions of dirhams. By the end of 2023, the sales and exchange projections are expected to hit 300 billion AED and it is estimated that at least 20% of those transactions would have been made and concluded over properties in Dubai Marina.
According to Emirates.Estate by February 2023, over seven hundred transactions had been successfully transacted over the Dubai Marina Properties, with a value of about 3 billion AED. The figure when applied on an estimate through out the year, it becomes clear that the Marina is high performing among other areas of the city. The prime properties and skyscrapers that moved the market in 2023 are:
1. Al Yelayiss 2
The Al Yelayiss 2, is a modern community built to replicate a cosmopolitan European lifestyle in Dubai. Its estimated completion time is by the last quarter of 2025. The developers offer quality:
- Studio apartments and condos
- Bedroom apartments
- Two Bedroom apartments
- Three Bedroom apartments
All have international standard makeup and are much more affordable than their contemporaries. The single-bedroom apartment is about 700 thousand AED. The variety of the Al Yelaysis 2 properties is a contributory factor to why it is very famous. People bought many of these off the market in 2023, as they made a down payment in anticipation of completion in 2024.
2. Nad Al Sheba First
The Nad Al Sheba 1 community is a very hot commodity in the Dubai real estate market of 2023. It has natural gardens burgeoning three to five bedrooms villas off the Al Meydan Road. It was initially famed for the Meydan Racecourse and the gardens planted in the area but is currently famed for its flexible payment plan and variety of property types. Some of its unique features include:
- Multiple golf courses and sporting amenities which makes it a good location for sports lovers.
- It is the most affordable mini-sports community in Dubai (in comparison with Dubai Sports City).
- The cycling Park with 4, 6, and 8 kilometer loops.
- A large racecourse of about 2,200 m landmass consisting of an 18-hole golf course, a racing club, and a dirt road for horse racing, betting, etc.
- Transportation is served by the Business Bay Metro Station, taxis, and Uber services
- Mosques and church are within 3 minutes away from the community center
- Four main supermarkets and mini-marts in the area – the open Nad Al Sheba market, the Aswaaq supermarket, Spinners, etc.
- Four nursery school options, and three international primary school options.
- Three standard clinic options within a 20-minute drive, etc.
The starting price for villas in Nad Al Sheba is about 3 million AED and ranges from two to seven-bedroom apartments.
An Ending Note on Prime Spots in Dubai Marina
The two locations under discussion above, that is, the Al Yelayiss 2, and the Nad Al Sheba 1st combined with properties in the Valley, and the DAMAC Lagoon III are the hottest for 2023.
As people are rushing to buy them off the market, it signals a buoyant environment for real estate engagement in the future. Of the four locations, the two discussed in this article are the most affordable and as such, the fastest selling out. By the time the units are completed in 2024/2026, the value of the properties is likely to increase on its own. Meaning that you could buy now and sell later in about 12 months or more. Units in the areas are sold for about 2 million AED upwards and will not require physical presence for the next few years – making them a good option for travelers and tourists.