01 June 2019

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, states 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 adds to the interest in these projects, it says.

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 return on investment (ROI) with rental yields going over 11 per cent, it adds.

According to Bayut, the studio apartments are for sale in Dubai South average at Dh385,000 ($104,800), 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 justify the higher price tag, says the report.

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

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 states. The average rent 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 attractive alternatives areas which are further away such as Mirdif and Al Warqa’a which offer properties at a similar price point, says Bayut.  

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