The most flamboyant of the seven emirates, Dubai has emerged from a simple fishing port surrounded by desert to one of the most sought-after destinations in the world.
Boasting a daring skyline punctuated by ambitious architectural developments, the Dubai real-estate market is continuously developing and changing.
At the heart of Dubai, luxury apartments offer the latest amenities and fabulous views of Downtown Dubai and the Marina. There are, however, other residential developments in exclusive neighborhoods with spectacular villas set amongst sprawling gardens.
Backed by strong demand, the property market bounced back with fervor in 2013 as property prices soared, prompting developers to launch a series of mega projects. Furthermore, Dubai’s favorable tax environment has made it a very popular destination for investors interested in property purchase.
Trends show that the uber-rich consider Dubai’s property market as excellent value for money compared to similar properties in other cosmopolitan cities, such as London, New York, and Paris.
Dubai has everything a super wealthy investor might desire, including year-round sunshine, world class shopping and entertainment, a plethora of international sporting, music, and cultural events, and a cosmopolitan lifestyle.
Additionally, security, free-flowing capital, and its strategic location all make Dubai even more appealing to the super-rich.
Below, we reveal the top hotspots in town sought after by some of the world’s ultra-high net worth individuals.
One of the most vibrant and lively parts of the emirate right in the heart of Dubai, Downtown Dubai is located off Sheikh Zayed Road in the north west part of Dubai. It is bordered on the south by Business Bay and in the north-east by the Financial Center Road.
Downtown Dubai has a host of luxury residential towers and villas with lakes, open green spaces, and water features. The closest metro station connecting it to the Dubai Metro is the Burj Khalifa/Dubai Mall metro station.
There are a number of ultra-luxurious residential developments in Downtown including The Residences (a complex of nine residential towers), South Ridge Tower (a development of six high-rise towers), and Old Town and Old Town Island (both low-rise Arabesque styled residential complexes), all set amidst greenery and offering spectacular views of the Downtown Dubai landscape.
Property in this part of town is in high demand owing to the presence of the Burj Khalifa (the centerpiece of Dubai) and the Dubai Mall.
One of the world’s most prestigious addresses, the Burj Khalifa offers studio, one, two, three, and four-bedroom residences located on levels 19-108. The Residences, Burj Khalifa offer unparalleled views of the city, the Arabian Gulf, and the amazing Dubai Fountains.
Rising majestically up from the desert, this icon of modern development is a unique marvel of engineering and craftsmanship, offering residents the ultimate in luxury and modern conveniences.
A manmade waterfront developed by Emaar Properties in 2003, Dubai Marina is home to many of the emirate’s elite. With a distinct European feel to it, the Marina offers a well-planned, well- maintained neighborhood with amazing residential properties for sale.
Many of the high-rise apartment towers offer sweeping views of Dubai as far as the eye can see. However, the property market here is highly competitive, owing to the high demand for property.
With a plethora of retail and dining options, and a short distance from the Marina walk, a pedestrian-friendly walkway lined with restaurants, shops, and cafés, the Marina offers a chic urban lifestyle in one of the most popular neighborhoods in Dubai.
Luxury towers include the Dubai Marina Towers (six towers featuring one to five bedroom apartments and three and four bedroom villas), Al Majara, Marina Promenade (an enclave of six towers with one, two, and three bedroom apartments and large villas), Trident Tower, and the Marina Terrace.
Built around the concept of sustainable luxury living, Al Barari is the brainchild of founder and chairman Mr. Zaal Mohammed Zaal, with 80% of the development dedicated to green space featuring 1,800 species of plants.
It features five residential developments nestled amongst six themed gardens, namely Mediterranean, Balinese, Water Garden, Renaissance, Contemporary, and Woodland Gardens. The residential developments are Ashjar, The Reserve, The Nest, Seventh Heaven, and The Residences – offering ultra-luxurious apartments and villas in unbelievably serene surrounds.
The Palm Jumeirah
Developed by Nakheel Properties, this manmade island is undoubtedly one of the most exciting projects in the world, and is home to luxurious private beach villas as well as high-rise apartment buildings affording wonderful views of the ocean.
The Palm offers an attractive combination of tranquility, accessibility, and privacy. Featuring the Palm Atlantis resort with the Aquaventure Waterpark, and a host of other world-class hotels located along the 11km Crescent, the Palm is where the ultra-rich come to shop for homes.
It is connected to the mainland via a Monorail, and you can also drive across. Residential options in the neighborhood include the Golden Mile (a stretch of land along the Western side of the trunk with ten apartment towers offering one, two, and three bedroom apartments as well three and five bedroom penthouses), Marina Residences (six-tower complex at the tip of Palm Jumeirah), Oceana (a seven building complex designed as a beachfront resort community), Shoreline Apartments, Tiara residence, and the Residences, Palm Jumeirah.
Mulberry at Park Heights
The first residential complex launched in Dubai Hills Estate in Mohammed Bin Rashid city, Mulberry features 330 elegantly designed apartments with a tennis academy, outdoor pools, jogging parks, and bicycling tracks.
Overlooking the 18-hole championship golf course, the beautifully decorated apartments are ideal for those who value the finer things in life, and for families who can enjoy an array of outdoor facilities.