Last month in real estate: November 2019
Looking to catch up on the latest property news updates in Dubai and the rest of the emirates? You’ve come to the right place! Here’s is MyBayut’s round-up of the top Dubai real estate news for November 2019.
LATEST REAL ESTATE NEWS IN DUBAI FOR NOVEMBER 2019
As we move to the final month of 2019, the Dubai real estate news sector has been dominated by announcements pertaining to launches and handovers from all of the leading developers. These real estate announcements in Dubai have been welcomed by potential investors who now have a wider inventory of projects to choose from.
If you’d like to know more, have a look at these highlights of all the Dubai real estate news for November 2019
Emaar Launches Mega Project Called ‘The Valley’
The first item on our list of Dubai real estate news is the launch of a new mega project by Emaar called The Valley. This masterplan is valued at AED 25B and will be situated on the Dubai-Al Ain Road.
The Valley is the latest addition in the Dubai property market to offer residents an integrated community complete with parks, retail outlets, educational and healthcare amenities and recreational and entertainment facilities.
Emaar stated that the first phase The Valley will be named Eden and will feature a set of three distinctly designed townhouses in 3 and 4-bedroom configurations. Residents will have easy access to a Town Center that will have numerous community facilities and much more!
The Eden community is due to be ready in Q4, 2022. If you are interested in purchasing property here, check out Bayut’s current listings to know about the sale prices for townhouses in Eden.
New residential tower to be built in Dubai’s Jumeirah Village Circle (JVC)
The next latest real estate news in Dubai to take note of is the Riviera Group’s announcement on the launch of a new residential tower called La Riviera Apartments. This upcoming tower will offer a luxurious living space in the heart of the JVC community.
The tower will feature 144 apartments split between 1 and 2-bedroom units. It’s also said to feature a 25 ft.-high grand entrance lobby with a car drop-off facility and hotel style elevators.
The La Riviera Apartments tower aims to attract younger, first-time buyers, investors and homeowners. If you’d like to explore the options in this upcoming tower in JVC, the prices to buy flats in La Riviera Apartments starts at AED 675k, as per Bayut’s latest listings.
Azizi Developments introduces the new residential project, Mirage
Our next feature for Dubai real estate news is another launch by a leading Dubai based developer, Azizi Developments. They have launched a novel residential project called Mirage which will be based in the Studio City neighbourhood.
This residential project will have over 400 apartment units that range from studios to 2-bedroom flats. There will be numerous modern amenities and conveniences which will be easily accessible to all residents too.
The building’s sleek and modern architecture was conceptualised to cater to the younger demographic. Have a look at what said Farhad Azizi, CEO of Azizi Developments had to say about the Mirage project.
“Mirage in Studio City is our response to a rising demand for housing that reflects the aspirations of young millennials, a demographic that is of increasing importance and holds the key to the growth of our economy. Dubai represents an ideal environment for this segment, with it being a promising city that allows young professionals to pursue an enhanced lifestyle. Empowered, financially confident and socially stable millennials are realising that owning a property, rather than renting one, enables them to invest in a lucrative asset while incurring lower monthly accommodation costs,”
New residential villas in Dubailand scheduled for Q1 of 2020
Also featuring in the latest Dubai property news segments is the Abu Dhabi based real estate company called Reportage Properties. This developer has announced they will be constructing residential villas in Dubailand called Rakan Lofts in partnership with Continental Investment.
The project spans over an area of 278709 sq. m., of which more than 60% will be green public spaces, walking paths, and other recreational and service facilities. The developers are even offering attractive payment plans to purchase these villas.
Handovers begin for the Studio One project in Dubai Marina
The announcement of the Studio One project handover in Dubai Marina is another one of the latest Dubai property news updates for November 2019. Select Group, which is the developer of the project, stated that handover for the apartments in Studio One has begun.
“Studio One is a development that appeals to a wide segment of society including value-driven young professionals aiming to buy their first home or savvy investors targeting high rental returns. The combination of its prime urban location within Dubai Marina, premium build quality, superior finishes and attractive price point make this the ideal investment for customers,” said Rahail Aslam, founder and CEO of Select Group.
Studio One in Dubai Marina offers homeowners and investors spacious apartments in configurations of studios, 1, 2-bedroom flats with access to swimming pool and ground-level shops. If you’d like to grab the opportunity to invest in this new tower in Dubai Marina, flats for sale in Studio One are currently available for as low as AED 500k.
Seven Tides rebrands its luxury homes on Palm Jumeirah
During November 2019 there have been numerous real estate announcements in Dubai, but this one is the most interesting. Seven Tides, which is a luxury property developer in Dubai has declared that they will be giving its luxury development SE7EN Residences the Palm a complete makeover to be rebranded as Seven Palm.
The rebranding project will transform the existing hotel and residential apartments into two unique components. One will be called the Seven Palm Hotel Apartment which will have hotel apartments for sale only for investors and offer a guaranteed return of 10% every year for the first five years.
The other component will be a residential apartment complex called the Seven Palm Residences, which will be open to both investors and homeowners, however, without guaranteed returns.
Commenting on the rebrand, Abdulla bin Sulayem, CEO, Seven Tides, said: “Each component offers a compelling proposition, based on ROI, location and quality, but they will attract a different type of investor, depending on their risk profile and strategy.”
The rebranding for these properties in Palm Jumeirah is due to complete during the fourth quarter of 2020.
That concludes this round up of all the latest Dubai real estate news for the month that went by. Another important milestone for Bayut in the month was the award for the Best Property Portal by Forbes Middle East. Being recognised by such a respected authority in the business world is a proud moment for all of us at Bayut. The acclaimed publication has also honoured our CEO, Haider Ali Khan by featuring him on the cover image of the November edition of Forbes Middle East in Arabic.
Now that you’re all caught up with all the latest property news updates in Dubai for November 2019, its time to find out what’s happening around the emirates during the long weekend.
The country will be celebrating the 48th UAE National Day and if you’d like to get involved in the action, here is a list of events in Dubi for the UAE National Day. The capital city also has a lot planned; you can find out more with this list of UAE National Day events in Abu Dhabi.
