Dubai real estate investors choose JBR and Dubai Marina

Dubai luxury properties would be in high demand in 2016. This opinion is shared by one of the emirate’s leading developers Dubai Properties, which recently presented its signature development 1/JBR in the cluster of high-end towers in Jumeirah Beach Residence.

1/JBR will include 152 two to four luxury apartments and five bedroom penthouses on 46 floors. The development is scheduled for completion in the first quarter of 2019.

According to the Dubai Properties representative Marwan Al Kindi, all company’s projects are strategically planned to cater to the actual level of market demand, which, in turn, is forecasted on the basis of a systematic market analysis. Therefore, 1/JBR project should attract great investors’ attention. Jumeirah Beach Residence is one of the Dubai areas most popular among luxury property buyers, primarily due to its proximity to the sea, easy access to all Dubai’s major locations and also thanks to the advanced and convenient infrastructure.

“1/JBR is unique in terms of its niche… as it represents another landmark within a well-established destination that enjoys relatively stable market prices to position against,” said Al Kindi.

Prices for luxury real estate in JBR area also look really attractive, especially at the background of other Dubai central locations: psf price for luxury units here currently stands at about USD 620-650, whereas a similar accommodation in The Residences in Downtown is priced at up to USD 950 psf, while the average psf price for properties in the world's tallest building Burj Khalifa ranges at USD 950 - 1300.

“Luxury properties in these prime areas are considered as long term trophy assets and the current prices are highly attractive for such investors,” said Robin Teh, Country Manager – UAE at Chestertons Mena. “Furthermore, regional tensions have also attracted luxury property buyers from other parts of the Middle East. We foresee a favorable outlook for luxury properties in 2016.”