JLT to JPT?

Tuesday, March 18, 2014


The evolving landscape of Jumeirah Lakes Towers

 

As prices in New Dubai continue to climb, JLT remains one of the more affordable options for singles looking to rent a property as small units are available from around AED 6,700 per month. It has previously been something of a Cinderella community, with a reputation for traffic, noise, and dust and considered less conveniently located than ritzy Dubai Marina across Sheikh Zayed Road. But, as development comes closer to completion, it is increasingly where the smart money is going.

 

 

 

Those that prefer a slightly slower pace than the buzzy Marina may find JLT exactly what they are looking for. Being set a little back from the coast means that the area is less tourist-clogged during peak seasons, but it is still only a short drive from the beach. With road widening works to ease traffic completed in January, the area is a more attractive prospect than ever.

 

Some might question whether Jumeirah Lakes Towers (JLT) is becoming “Jumeirah Park Towers” (JPT) as in a surprise move, one of the district’s four lakes was filled in, and, in January, a large new park was opened in its place. The park is an addition to the district’s other facilities, which include lakeside walkways, small supermarkets and a growing crop of independent cafes and restaurants. There are nightlife options too, with four hotels in the development including The Bonnington, with its popular Irish bar McGettigans.

 

Another advantage of the district’s location is that it is on the right side of the road for commuting to districts north of the Marina. For example, Barsha and the Mall of the Emirates, Downtown, DIFC and Business Bay are accessible, and, there is one less hurdle to jump for those heading to Dubai International Airport at rush hour.

 

Many who work in JLT’s freezone choose to live in the area too, so they can walk to their offices when weather allows. The area also has two Metro stations, making it one of the few in Dubai where surviving without a car can be a real option, and, the new Dubai Tram, due to open towards the end of 2014, will provide further public transport connections.

 

One bedroom property rentals start from AED 80,000 per annum, rising to AED 120,000 for larger units and more popular towers. Two bedroom apartments start from AED 110,000, going up to AED 155,000 for a 1,570 sq. ft. in Green Lakes Tower 1. Three bedroom properties range from AED 175,000 to

AED 190,000.

 

If you are considering investing in property in JLT, small studios are available, starting at AED 810,000, one beds start at AED 875,000, two beds start at AED 1.2 million, three beds from AED 1.65 million and four bed properties from AED 3.13 million. An opulent five bedroom penthouse with its own private pool will set you back AED 7 million.

 

To find out more about life in the Jumeirah Lakes Towers community, call our office on +971 4 447 0233.

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