Dubai Marina has traditionally been one of the most sought-after communities in the city, serving both modern professionals and holiday makers. Be it for its stunning waterfront views or for its central location, the community attracts visitors from all over the globe, all year round. Dubai Marina is tailor made for a bounty of individuals looking to live in a vibrant community one that has everything within touching distance, as well as savvy investors looking to generate high returns on their outlays.
Dubai Marina is like a city within a city with all the essentials on demand at any hour of the day and if you’re considering purchasing a property in the UAE, here is why it should be atop your list.
When you opt for a property within Dubai Marina, you are choosing a particular lifestyle. You are exposing yourself to a spectacular setting in the heart of the city, in the only truly pedestrian focused community in Dubai. You will have direct access to over 10 kilometers of uninterrupted waterfront walkways in the presence of towering skyscrapers, bustling social destinations and impeccably kept yachts and cruisers. The Marina showcases the finest elements of Dubai’s waterfront living scene, and provides an array of options to cater for anyone’s individual requirements. Be it the young, urban working professional, who clamors for that elite address in a prime location, families looking for a safe, traffic free environment for themselves and their children, or the city dweller who wants to enjoy everything Dubai has to offer, without the need to rely on personal transport. From restaurants and cafes to shops and entertainment options galore, the Marina can be everything, to everyone and creates a true sense of community right in the center of a global city.
In addition to the accessibility granted within The Marina itself its surrounding destinations such as JBR and Bluewaters Island also feature a wide array of restaurants, retail and entertainment options, not to mention immediate public beach access all within walking distance of anywhere in the Marina. Given the location of the area, it is perfectly set up to accommodate both winter and summer living with a range of events and activities available all year round to keep residents or visitors stimulated.
The state-of-the-art facilities, such as swimming pools, gyms and multipurpose courts that come provided within the premium buildings in the Marina also delivers a wonderful value add in the form of savings arising from fitness and lifestyle memberships that would otherwise need to be purchased. While every building in Dubai Marina has its own CCTV footage, building specific access cards and 24 hours security service, keeping your property secure at all times.
As mentioned above, the Marina is strategically located nearby some of Dubai’s most popular lifestyle orientated destinations, but on top of that it is home to many thriving businesses, both homegrown and major international names and brands. The city is a cosmopolitan melting pot of people from numerous cultures and backgrounds, with over 150 nationalities calling the Emirate home.
While the Marina itself houses a number of these businesses, it is also on the doorstep of a number of the biggest companies in the region, most of whom are located in the likes of Dubai Media City, Dubai Internet City and Dubai Knowledge Village all of which are easily accessible by public transport or within walking distance. Jebel Ali Industrial Zone is one of the major business ports in the region, and that’s located a mere 20 minutes from the Marina, as is the burgeoning Expo 2020 site. While Dubai International Airport (DXB) and Al Maktoum International Airport are both within 30 minutes of the Marina.
The Marina is serviced by the Dubai Tram which makes moving from one end of the community to other quick and easy, while the Dubai Metro connects it to the rest of the city in a frequent and convenient manner. Finally, with easy entry and exit points to Sheikh Zayed Road you can be in Yas Marina, Abu Dhabi in less than 45 minutes.
Dubai Marina continues to be one of the most popular residential destinations across the whole of the Dubai, consistently running an occupancy rate of over 90% within its residential buildings. As such, it presents a great investment opportunity for buyers looking to rent their premises out all year round. Dubai has become one of the world’s favourite holiday destinations, welcoming an average of 15.5 million visitors annually between 2015 & 2019, it was also ranked the 4th most visited city in the world in 2019. Further to this, the city continues to attract and retain working professionals across a huge specter of industries all of whom require accommodation in convenient, thriving and modern parts of the city. The population in Dubai currently sits at around 3 million – having grown from 980,000 in 2000 and with the recent roll out of the Dubai 2040 Master Urban Plan which is aiming to increase the population of the city to over 5.8 million within the next 20 years, there is a fantastic opportunity to invest in a mature city that is still growing and developing.
Dubai Marina averages rental yield returns of between 6-7% annually, which makes it one of the more lucrative major cities in the world to own a property as an investor. As a comparison, Sydney, Toronto, Paris, Berlin, London, New York & Singapore all return annual rental yields of between 3-4%. Being one of the most sought-after communities to live in for both tourists and residents, investors can rest assured their property will not only generate high rental yields year on year, but increase in resale value in the long term given the location and the strategic plans set aside for Dubai Marina over the next 20 years.
Georges joined Select Group as Commercial Director in 2020. He has over 18 years’ experience in destination management and expert knowledge across an array of industries including hospitality, tourism and MICE. He has a deep understanding of the GCC, and the buying behavior of the international visitors to the region.