Whether you’re looking for a property as your new home or for asset purposes, the UAE is the hotspot for real estate investment. Emirates’ awe-inspiring architecture, luxurious lifestyle, stable economy, high rental yields, strategic location, and business-friendly laws make it the best place to invest. The country, particularly its most famous city, Dubai consists of a plethora of top areas that offer high ROI.
Many dynamic neighbourhoods in the UAE provide different useful amenities and luxuries, increasing their attractions for investors and residents alike. Wondering which are those? Read on to learn about the ten best areas to invest in property in the United Arab Emirates in 2024 and beyond.
10 Best Locations For Property Investment In The UAE
1. Downtown Dubai
Downtown Dubai is also known as the ‘centre of now,’ famous for luxurious apartments and old-fashioned flats in Old Town. It is home to the majestic Burj Khalifa, The Dubai Mall, Souk Al Bahar, and many other eye-catching touristy spots.
Downtown Dubai is one of the most highly visited tourist attractions in the world and offers a desirable lifestyle. Though the property rates are on the pricier side, the return on its investment is 5.18%, making it an attractive place for investing. The average price of a bedroom apartment in Downtown Dubai is AED 1.5M, while a bedroom one typically costs AED 3M.
2. Dubai Marina
Dubai Marina is another prime area for real estate investment, often called ‘New Dubai.’ It is usually preferred by investors seeking a lavish lifestyle and wish to reside in the central location. It provides the ultimate level of convenient access to the city’s top places, like Dubai Media City and Internet City.
The Marina area offers impressive options, from high-end apartments to deluxe penthouses and office spaces. The Bluewaters Island by Emaar near it enhances the elegant appeal of this area and increases its dynamic market value. The ROI of this amazing area, particularly for apartments, is 5.8%. Investors looking for profitable opportunities in the United Arab Emirates should invest in this eye-catching and luxurious option.
3. Jumeirah Lake Towers
Consider investing in Jumeirah Lake Towers if you’re searching for exclusive apartments in the world’s top cities. This place offers both affordable and high-rise property options with similar amenities, making this area the best choice. Its return on investment is 6.82%, comparatively higher than the above ones.
Jumeirah Lake Towers offers access to its residents to a wide array of culinary outlets, cafes, bars, and amusement spots. It also provides recreational facilities, such as gyms, swimming pools, fitness centres, yoga plus meditation clubs, and much more. Whenever needing to shop for something, residents can head to the well-stocked Marina Mall near Jumeirah Lake Towers. The Ibn Battuta Mall and Mall of the Emirates are also a short drive away, letting dwellers access to versatility.
The average rate of studios in Jumeirah Lake Towers is AED 451. One-bedroom apartments typically cost AED 822k on sale, while a spacious two-bedroom flat for sale is available at AED 1.3M.
4. Palm Jumeirah
Palm Jumeirah is a worthy consideration for all worldwide investors due to its 5.30%.
ROI. Its classy location and diverse projects make it a reliable option for investment in Dubai real estate. Consider their villas with picturesque views overlooking the Arabian Gulf if you want to invest in Palm Jumeirah.
Palm Jumeirah offers three-bedroom villas for sale at an average price of AED 10M and a four-bedroom at AED 15M. Additionally, you should have at least AED 40M if you’re planning to purchase a six-bedroom villa on sale over there.
5. Arabian Ranches
The next on our list is Arabian Ranches, a popular villa community with immense interest from successful investors. It is a great choice for families due to its family-oriented environment, plus its expected return on investment is around 4.99%. From aesthetically styled family villas to plenty of facilities and amenities, this area is the best place to live and invest.
On average, three-bedroom villas in Arabian Ranches are available for AED 3M, whereas four-bedroom houses cost AED 4.7M. Luxurious six-bedroom homes will set you back an average of AED 9.7M.
6. Business Bay
Located in the heart of Dubai, Business Bay is a mixed-used area, meant for both residential and commercial use. It is home to hundreds of different properties, such as studios, apartments, penthouses, etc. that carry luxurious finishes. This option comes with the highest number of facilities, all just at your doorstep.
Business Bay is bustling with a diverse range of social and civic amenities that are accessible at a reachable distance. Here you will find various supermarkets, schools, academies, hospitals, malls, clinics, lavish hotels, fine dining, restaurants, cafes, and places of worship. Residents can also travel from and to via smooth transportation facilities of the Business Bay, making everyday commutes hassle-free. Accessing a cab or taxi is also super easy.
7. Damac Hills
Here comes another top neighbourhood that you can consider for real estate investment in Dubai – Damac Hills. It is a well-planned, organized, and eco-friendly region with the chance to grow even more in the coming years. It also accommodates supermarkets for residents to shop for anything they need. Plus, they have beaches, restaurants, and many amusement spots for inhabitants to recharge their batteries or dine out with loved ones.
Damac Hills is speedily developing, so you will see many new tourist attractions in the coming time. You can find lavish villas or affordable villas at a price that aligns with your financial budget, Damac Hills has diverse choices. You can buy accommodations that range from one to six bedrooms and above.
8. Dubai Silicon Oasis
Looking for a vibrant neighbourhood with a seamless modern lifestyle and dynamic business environment? Dubai Silicon Oasis, located at Sheikh Mohammed Bin Zayed Road, is a must-consider option due to its easy access to major Dubai areas. Whether you’re an employee or an entrepreneur, this option provides convenience on another level for all. It is also best for families due to its comprehensive range of amenities, including healthcare centres, shopping malls, academies, and recreational spaces.
Silicon Oasis region also has different parks that freshen the spirit of whoever visits. Residents conscious about personal care can also join fitness centres present in this area and meet their health goals. However, keep in mind that apartments in DSO are leasehold, yet their ROI is impressively 8.86%. This neighbourhood sells a broad array of modern apartments to suit investor’s distinctive preferences. For instance, a studio flat is available at an average of AED 417k, while one-bedroom apartment is priced around AED 654k.
9. Dubai Creek Harbour
Dubai Creek Harbour is famous for its world-class amenities, spectacular architecture, and jaw-dropping views of the skyline. It has become the prime destination for real estate investors in the United Arab Emirates due to its best facilities. Creek Harbour is situated on the historic Creek banks, offering diverse opportunities for luxury living and business.
Emaar Properties has developed a DCH project, which covers an area of 70 million square feet. It features an organized range of residential units, like townhouses, villas, and apartments. All this can accommodate a wide population of over 200,000 residents
10. International City
Looking for a property with lots of amenities on a limited budget? Look no further when you can invest in an International City, an affordable property compared to the Marina option. The good part is its rental returns are around 9%, attracting buyers seeking an advantage of lower-priced properties. International City is a good option if you have long-term rental plans. It is suitable for individuals who want a peaceful location, away from the downtown’s hustle and bustle.
Wrapping Up
To wrap it all up, the UAE offers a wide variety of prime locations for property investment, each with its unique perks and benefits. From the luxurious Downtown Dubai and Palm Jumeirah to the more budget-friendly International City, there’s something for every type of investor.
Whether you’re after high rental returns or simply looking for a great place to live, the options are plentiful. With its stable economy, strategic location, and business-friendly environment, the United Arab Emirates will remain a top destination for real estate investors in 2024 and beyond.
