Dubai’s status as an international tourism and bussiness HUB, paired with its propensity for rapid growth and innovation,has helped it become one of today’s most exciting investment prospects.This is especially the case at the moment , when the emirate is investing heavily , not only in the creation of new districts , but the rejuvenation of older ones , as well as diversifying its tourism market by increasing its breadth of mid-range hotels.
This means there will be a greater choice of investment prospects and, thanks to the era of renewed confidence following the financial crisis, a positive forward outlook. In the run-up to Expo 2020, room occupancy and visitor numbers are predicted to increase. Plus, with some 25 million visitors expected for the Expo alone, investors have yet more incentive to consider when it comes to weighing up whether Dubai’s prospects would suit their profile.
Investors are drawn here not only by the burgeoning growth, but by the prospect of a growth plan that targets long-term market stability. For those who have determined Dubai is the market for them, the question becomes: ‘Which districts should we invest in?’.
Here, we take a look at some of the areas in Dubai that offer the most attractive returns, along with their upcoming prospects.
DOWNTOWN AND BUSINESS BAY
Downtown Dubai is an area located between Sheikh Zayed Road and Al Khail Road and houses some of the city’s most iconic buildings and attractions — including the world’s tallest tower, the Burj Khalifa. It is also home to the Dubai Mall and the Dubai Fountain, and is close to the expansive Dubai Canal, which opened in November 2016. Additionally, the area is a hub for regular community events and parades, such as for the one for UAE National Day. What’s particularly interesting about Downtown Dubai is that it is also close to some of the city’s most up-and-coming districts, including Al Quoz and the D3 Design District, which have both become a popular hub for art and creativity.
, meanwhile, is the city’s central business district. While it was impacted during the economic downturn, rebounding confidence is speeding rejuvenation across its commercial and residential developments, and it is fast becoming one of the most coveted places for property in the city. Together, these areas have significant potential across both the tourism and business travel sectors.
Formerly known as TECOM,was originally established to cater for the free zones of Dubai Internet City, Dubai Media City and Knowledge Village. These areas now play host to over 20,000 employees and some of the world’s biggest conglomerates and Fortune 500 companies, including Microsoft, HP, Siemens, BBC World, CNN, Reuters and CNBC – to name but a few.
As one of Dubai’s most rapidly evolving communities, Barsha Heights is home to a vast collection of residential, office and commercial projects, including hotels and hotel apartments, supermarkets, pharmacies, restaurants and cafés.
JUMIERAH VILLAGE CIRCLE
The region titled Jumeirah Village is quickly establishing itself as a premier location within very close proximity to the World Expo 2020 site along with some of Dubai’s main business regions and leisure destinations.
This booming district comprises of a series of villages all connected with open landscaped areas and waterways. Luxury villas and apartments are built in to landscaped green parks and walkways with plenty of open space to explore.
Hotel room owners will stand to gain from the World Expo 2020 site, which is set to attract 25 million visitors during its 6-month run. This is likely to bring huge demand for hotel accommodation before, during and after.
JUMEIRAH BEACH RESIDENCE & DUBAI MARINA
Close to iconic attractions such as the Burj Al Arab and the Mall of the Emirates, Jumeirah Beach Residences andis another of Dubai’s top investment districts. Like The Palm Jumeirah and its surrounding beaches, the focus here is very much on leisure. For example, the famous Burj Al Arab, which is instantly recognisable thanks to its design resembling the sail of a ship, is one of the city’s most celebrated luxury hotels and the world’s only 7 star hotel establishment. In addition, in front of Jumeriah Beach Residence is the highly population tourist attraction, The Beach, which features a multitude of retail, leisure and dining options.
Like many areas of Dubai, Jumeirah Beach Residence and Dubai Marina are set to benefit from the upcoming Expo 2020 in the form of a new investment project. Expected to cost approximately $1.6 billion, Bluewaters Island will be located offshore of Jumeirah Beach Residence and is tipped to become one of the world’s most desirable tourism hotspots.
THE PALM JUMEIRAH AND BEACHES
The Palm Jumeirah Palm and its beaches is one of the emirate’s most famous tourism destinations. Home to world-class hotels, apartments, water parks and a host of leisure facilities, this part of Dubai is a reliable attraction — not least because the Palm is the world’s largest man made island.
Designed to look like a stylised palm tree, the Palm consists of a 2km long trunk, 17 fronds and a surrounding crescent. Crucially, the island was designed to add to the emirate’s limited shoreline — something it has very successfully achieved. Its most famous hotel and leisure facility is Atlantis, the Palm, which houses a host of restaurants, as well as its own water park, marine park and more.
SHEIKH ZAYED ROAD
Sheikh Zayed Road is the emirate’s major highway and main artery. More than simply a road, it is widely considered to be the central core of modern business in Dubai. Lined with skyscrapers from the Trade Centre roundabout all the way up to and past Interchange 1, it is home to major corporations, hotels, apartments, shopping malls and more.
Its proximity to Downtown Dubai and all its varied attractions helps enhance the appeal of this bustling, prosperous area.
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An independent report published earlier this year and commissioned by the Dubai government said that Expo 2020 will contribute more than Dh122.6 billion to the country’s economy by 2031. The report, by the consultancy EY, also stated that at its peak, Expo 2020 will generate business equivalent to 1.5 per cent of the UAE’s GDP. […]