Property prices increase more than 8 per cent both in Dubai Marina and JLT
25/03/2013
Among the sought-after developments in Dubai are Jumeirah Lakes Towers (JLT), and Dubai Marina. Both of them are well-established locations in the Emirate that have been drawing thousands of investors per annum, who are interested in property market, from around the world, in which they have recorded an average increase in property value of between 8 and 10 per cent during the last six months.
JLT is indeed a Free Zone under the Dubai Multi Commodities Center (DMCC) that has a total built-up area of 200-hectare as well as a mixed-use waterfront master development that offers residential, commercial, and retail property both for sale and rent. So far, there have been freehold and leasing options being offered to residents.
On the other hand, Dubai Marina is a waterfront development project that could accommodate more than 120, 000 residents. In other words, it is also a district in which hundreds of towers were developed, including the currently-tallest residential tower in the world, The Princess.
Based on the report, both of the above-mentioned areas have witnessed such growth in values for the last six months. They were just driven both by premium and secondary towers. According to Declan King, Valuation and Research Manager of Hamptons MENA which is a leading property services company in the region, he said that such positive growth gained by the two developments were just a reflection of the truth that the confidence in the Emirate’s property market is really bouncing back; for, as property investors, they are now witnessing stronger value proposition in Dubai’s realty sector, if compared to previous years.
JLT is indeed a Free Zone under the Dubai Multi Commodities Center (DMCC) that has a total built-up area of 200-hectare as well as a mixed-use waterfront master development that offers residential, commercial, and retail property both for sale and rent. So far, there have been freehold and leasing options being offered to residents.
On the other hand, Dubai Marina is a waterfront development project that could accommodate more than 120, 000 residents. In other words, it is also a district in which hundreds of towers were developed, including the currently-tallest residential tower in the world, The Princess.
Based on the report, both of the above-mentioned areas have witnessed such growth in values for the last six months. They were just driven both by premium and secondary towers. According to Declan King, Valuation and Research Manager of Hamptons MENA which is a leading property services company in the region, he said that such positive growth gained by the two developments were just a reflection of the truth that the confidence in the Emirate’s property market is really bouncing back; for, as property investors, they are now witnessing stronger value proposition in Dubai’s realty sector, if compared to previous years.
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