New Luxury Real Estate In Dubai The City Is Expanding

Every day Dubai becomes more and more attractive for investors from all over the world. Having a property in one of the districts rate, like Palm Jumeirah, Downtown, or Dubai Hills View in the UAE has long become a sign of prosperity and wisdom. If you want to buy property in Dubai, contact the specialists of the Ax Capital agency – their experts will help you understand all the intricacies of the market, as well as select the best offers from developers for you. And here in this article we will have a look at some of the examples of the luxury real estate in some of the recently developing areas.

Luxury real estate in Dubai

Experts report that many owners of luxury housing temporarily suspend sales. The main reason is the expectation of a rapid increase in the value of real estate. This is especially true for the most prestigious areas of the city, where experts expect growth of 10-15%.

In general, the luxury real estate market has changed a lot over the past few months. The cost of one square meter increased by 35.1%. The largest growth was recorded in areas such as:

Palm Jumeirah,
Dubai Hills,
Jumeirah Bay,
District One.

At the same time, the interest of buyers in the average and affordable segment of Dubai real estate is also growing, as evidenced by the report of the Land Department. Last week, a little more than 360 transactions were registered for a total amount of almost a AED 1 billion. At the same time, specialists registered almost 50 mortgage transactions for a total amount of AED 81 million.

Luxury housing is becoming even more attractive due to the interest from international investors. Buyers see Dubai as a technological place with a stable economy, where they can safely store their capital. Demand especially increased after international conflicts in the political arena.

Area expansion

Dubai Council proposes comprehensive restructuring of the Land Department. One of the main goals is to improve the state of real estate and launch new projects that will turn remote areas into tourist locations.

This idea includes proposals for the development of several districts:

Al-Faka,
Al-Khabab,
Al-Lusaili,
Al-Awir,
Al-Marmum.

In addition to the direct development of the districts, the project will be aimed at improving the quality of services provided and creating new economic opportunities for residents of the districts.

As part of the meeting, the ruler of Dubai, Sheikh Mohammed bin Rashid Al Maktoum, was also presented with the concepts of future residential areas. Plans are expected to begin to materialize in the next few months.

Experts note that such a decision will be a new round of development for the entire emirate. In addition, developers are starting to run out of free locations to build new projects, and therefore they are faced with a limited number of available construction sites. And the implementation of this project will significantly expand the territory of tourist city and announce many other projects. In addition, this will attract additional investment in the economy of the United Arab Emirates.

Flats in Dubai in a prestigious skyscraper

Dubai’s famous skyscraper One Za`abeel One&Only, which has become a unique building, opens its doors to new owners. It was this building that got into the Guinness Book of Records due to the horizontal transition with a very long length. And now this skyscraper bears the title of the longest cantilever building in the world.

This project consists of two unique premium class towers.

One part is residential, where the residents will be located directly.
The second part is designed to accommodate the city resort One&Only.

As reported, 94 private properties will be sold under the One&Only brand. Also, buyers will be able to turn their attention to 264 apartments. The project assumes the presence of a penthouse with 5 bedrooms.

Skyscraper One Za`abeel One&Only is located in close proximity to the most famous sights of the city. Nearby are Burj Khalifa, Emirates Towers, World Trade Center and Zabeel Park. However, the main distinguishing feature is not the location of the skyscraper, but its unique architectural solutions. The bewitching architecture literally makes you enjoy its view.

The cost of a one-bedroom apartment, whose area is 106 square meters, starts at USD 1.06 million. Housing with two bedrooms will cost at least USD 1.5 million. The minimum cost of apartments with three bedrooms – USD 2.7 million.

Real estate agency in Dubai

Do you want to buy property in Dubai? Contact the specialists of the Ax Capital agency. They will help you choose the best properties and fully support the transaction.

Photo by David Rodrigo on Unsplash