Welcome to the fifth in a 7-part series on the investment opportunities found in Dubai. In each part of the series we will focus on a separate area of the emirate, highlighting the potential and attractive qualities that attract investors, tourists and expats.
The fifth area in our series is Dubai Marina, one of the most iconic and popular areas within the emirate. It’s a known magnet for expats and tourists, but is the Marina an ideal destination for investors too?
Lying between Al Sufouh and Jebel Ali, Dubai Marina is a man-made marina with over 200 high-rise towers, including 40 towers of the Jumeirah Beach Residence. It is the world’s largest man-made marina and a popular destination for expats and tourists.
For years the world’s largest man-made marina was the symbolic centre of Dubai development. Perfectly positioned off Sheikh Zayed Road, over 200 high-rise towers cover 7km of pristine landscaped waterside walkways.
Great for: Investors, tourists, entertainment
Attractions: The Walk, a restaurant and café-lined promenade, connects Dubai Marina hotels with Jumeirah Beach
Proximity to metro station: 1.5km from the centre of Dubai Marina
Average one-bedroom apartment sale price: AED 1.5 million
Average one-bedroom apartment rental price: AED 105,000
Best property type to buy: Studio – prime studio apartments in the area achieve 9% yields
Dubai Marina, a 50 million sq ft waterfront community, comprises part of “New Dubai” – an area with the vision of including all the latest technologies and facilities. Boasting the world’s largest man-made marina, the superyacht playground is the visual optimisation of the exclusive and luxurious Dubai lifestyle. Routinely cited as the destination for the stylish and sophisticated, the Marina offers some of Dubai’s best entertainment, dining and leisure facilities. The Marina is constantly listed as the best of Dubai and is a prime location for investment within the emirate. Investment returns are some of the most robust in the whole GCC.
Compromising ten districts, with their own distinct community, Dubai Marina has a multitude of unique and diverse attractions that appeal to the varied population that call Dubai home. Those who aren’t lucky enough to live within the Marina most certainly find a reason to visit.
Several high-rises, filled with luxury apartments and penthouses, fill the Dubai Marina skyline. Not only is the view a stunning one, but Dubai Marina is blessed with a multitude of facilities within easy walking distance. The Dubai Marina Mall may not be the largest found in the emirate, but it more than accommodates for a wide range of tastes in the 390,000 sq ft it covers. Including a supermarket, a multitude of restaurants, a children’s entertainment area and a six-screen cinema, the Dubai Marina Mall attracts both tourists and residents all-year round.
Dubai Marina remains a hot favourite amongst renters and particularly for expats, making up 17% of all searches on propertyfinder.ae. Nearly 5 million searches were made for Dubai Marina property, the most for any location, on Dubizzle, a website for UAE classified adverts. Appealing to both tourists and locals, Dubai Marina is located on the Red Metro line, allowing the area to command higher prices and rentals thanks to excellent connectivity to all other attractions and locales in Dubai.
Dubai Marina as a preferential location for investment, with an average yield of 7%, and consistent demand for property. Also, many properties in the area now accommodate short-term lets, providing a relatively inexpensive alternative to hotels.