Dubai Marina has everything a newly arrived expat could want as well as plenty to entertain the long-term resident. Large amounts of tourists flock to the area every year, meaning that the hospitality sector continues to flourish. This in turn benefits residents as the range of night life and entertainment options on offer increases.
Recently, The Beach, a new shopping and entertainment destination, opened right on the sea front, and looks likely to set to rival the Marina Mall as the district’s main shopping area. The nearby JBR Walk is also a popular destination to shop, dine, or simply sit and indulge in a spot of people watching, or more realistically car watching, as the neighbourhood’s cool crowd cruise by in their super expensive automobiles.
The man-made island Bluewaters, due to be developed with retail, residential, hotel and entertainment zones, is currently under construction off the coast. It will also feature a 210m tall Ferris wheel, which will be the world’s biggest, dubbed the Dubai Eye.
Ask anyone who has lived in the Marina about the area’s downsides, and they will immediately mention that the area can be choked with stationary traffic at rush hour and on weekend evenings. There are also parking issues related to the fact that many apartments come with only one parking space.
Fortunately, a long-term public transport strategy may help with that, with increasing numbers of people using the ultra-modern air conditioned Metro. And, the new Dubai Tram, due to open in the New Dubai end of town by the end of 2014, will link with the Metro, allowing more residents the option to leave their cars at home.
Relocating to the Marina is something of an investment for many people, with prices currently reflecting the demand for homes closest to one of Dubai’s most precious resources – its sandy beaches.
Studio apartment rentals start from AED 75,000 per year, one beds range from AED 80,000 for a small unit, rising to AED 150,000 for the more spacious. Two bedroom apartments range from AED 130,000 to AED 260,000, three beds from AED 185,000 to AED 300,000 and four bedroom apartments start from AED 237,000 going up to AED 350,000. A large five bedroom apartment will require a budget of
AED 550,000 per annum.
Villa-style duplexes are available, with a three-bed available for AED 350,000 per annum and a large five bedroom family unit renting for AED 600,000.
If you are looking to invest in property in the Marina, prices start from AED 665,000 for a small studio or AED 910,000 for a one bed in Manchester Tower going all the way up to AED 44 million for a five bedroom 14,392 sq. ft. penthouse in Elite Residence.
To find out more about this district, call our Marina offices on +971 4 428 1398 or
email [email protected]