Dubai Real Estate Strong Thanks to Housing Handover Upsurge
Below is a rundown of the communities and areas in Dubai with the most hand-overs.
●Dubai Silicon Oasis (DSO)
– The leader in handovers with 2,740 units. In the next three years, it is expected that around 7,500 additional units will enter the market in DSO. If developers remain on schedule, as many as 3,500 units could be delivered next year alone. The area’s location along with its commercial and residential amenities make it attractive to mid-income families. DSO is also attractive to investors who can expect a 9 percent rental yield.
– Second in handovers, this area had 2,588 units delivered. In the next 12 months, more than over 50 projects are scheduled for handover in Dubailand. Most of these projects are actually new phases of existing smaller developments.
– 1,679 units were delivered in the first half of 2017. International City has about 3,600 units in the pipeline that should reach the handover stage by the end of 2020. This community is one of the most affordable communities in Dubai and also offers a 9.3 percent rental yield.
– Known for iconic structures like the Burj Khalifa and the Dubai Opera, there were 1,411 handovers in Downtown Dubai. Next year, 11 projects are expected to be completed, adding almost 4,900 new units. Popular with families and working singles, the area has an 80 to 85 percent occupancy rate.
– 869 units were handed over in 2017 in one of Dubai’s core business districts. Over 2,000 apartments are expected to be delivered in next year in Business Bay. Opportunities for investors include hospitality, residential and mixed use properties. Its proximity to the airport, Downtown Dubai and the Dubai International Financial Centre has helped fuel its popularity and stabilize investments.
●Jumeirah Village Circle (JVC)
– 694 units were handed over in this emerging community. With competitive prices and a number of projects still under development, JVC continues to evolve. It is also a popular location for renting, keeping it near the top of the off-plan market.
Now is the Time to Buy in Dubai
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