Sunday 23 February 2020

Dubai investors 'eyeing Expo 2020 off-plan projects'

DUBAI, May 14, 2019

The off-plan developments near the Expo 2020 project site in Dubai are garnering a high amount of interest from investors, according to UAE real estate portal Bayut.

Dubai South, Meydan City, Mudon and Town Square are some of the areas that prospective buyers and tenants are most interested in, stated Bayut in its report.

Besides the attractive location, the fact that these projects are backed by acclaimed builders such as Emaar, Meydan, Sobha, Dubai Properties and Nshama definitely adds to the interest in these projects, it said.
While a few units have been handed over in Dubai South and Meydan, investors can still find a large portfolio of reasonably priced properties in these emerging districts. Dubai South also offers one of the best options in terms of ROI with rental yields going over 11 per cent, it added.

According to Bayut, the studio apartments are for sale in Dubai South average at 385,000, while three-bedroom villas are available for Dh1 million.

In Meydan City, prices are predictably higher with three-bedroom villas going for an average of Dh3.3 million and studios averaging at Dh450,000.

However, the premium amenities of the neighbourhood, which includes a golf course, equestrian centre and mall easily justify the higher price tag, said the report.

When it comes to rentals Town Square and Mudon are the emerging areas gaining popularity with Bayut users, it added.

According to Bayut, the Arabella Townhouses in Mudon and the Hayat Townhouses in Town Square are the most popular out of all sub-communities within the two areas.

Prices have come down slightly for villas in both Mudon and Town Square in the first quarter of 2019, it stated.

The average price for a three-bed villa in Mudon is Dh125,000 and in Town Square, a similar unit is priced at Dh100,000. As a result, both areas are extremely attractive alternatives for people who had to rely on areas which are further away such as Mirdif and Al Warqa’a which offer properties at a similar price point, said Bayut.

CEO Haider Ali Khan said: "We can be optimistic about the growth of areas near Expo 2020 such as Dubai South, Meydan City, Town Square and Mudon in the next few years. They are well-integrated neighbourhoods which already offer a high RoI to investors."

"This could improve further when more handovers are completed and tenants have a wider portfolio of properties to choose from," he added.-TradeArabia News Service


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