Best Developments in Dubai for Buying Real Estate in 2023

Are you considering buying real estate in Dubai? With its booming economy, vibrant culture, and exciting opportunities, it’s an attractive option for many. But how do you know which developments are the best for purchasing property? In this blog post, from the Dubai Home website, we’ll take a look at some of the top developments in Dubai for buying real estate that offer great value and convenience when it comes to buying real estate.

Dubai is one of the world’s leading cities when it comes to innovation, luxury, and growth. It has come a long way over the years and continues to be a popular destination for those looking to make investments. When it comes to real estate, Dubai offers an impressive selection of properties that can suit almost any budget and lifestyle. From stunning villas with stunning views of the skyline to luxurious apartments in up-and-coming districts, there’s something for everyone.

The choice of developments in Dubai is vast, so it’s important to do your research before making a purchase. This blog post takes a look at some of the best developments in Dubai for buying real estate, covering everything from location and amenities to the potential for investment returns. Read on for more information and get ready to start searching for your perfect home in Dubai.

Today, many visitors choose Dubai as their holiday destination, where you can find the world’s biggest spenders. Also, this city is known as the financial center of the Middle East with no tax percentage and zero crime rates.

All these points and many other factors have made Dubai one of the most important real estate markets in the world, where you can find many tall buildings such as Burj Khalifa and Palm Jumeirah and many prominent property developers such as Ammar and Diyar.

Now, If you are interested in buying a property in this wonderful city, you should first get to know about the best developments in Dubai for buying real estate. Keep reading and learn all the important details about this topic.

Why is Dubai attractive to real estate buyers and international businesses?

Maybe for many people, the question is, why is Dubai so attractive for international business?

Dubai is not only a dreamland for tourists, but also a rapidly developing global hub, opening vast prospects for international trade and modern commerce. Also, Dubai provides the most favorable conditions for entrepreneurial activities.

The ideal business conditions and situations that Dubai provides to businessmen have all made this small city become one of attractive cities for investors.

The modern and rapidly developing infrastructure of the United Arab Emirates has an important place among the reasons for the attractiveness of Dubai for international trade and commerce. Today, Dubai invests a lot of financial resources in its development. UAE is the first Arab country to use the most advanced technologies. All information services, communication, and provisioning systems are created and operated in accordance with the best global standards.

Another reason that makes Dubai attractive for business is that the rules for registering your company and business in this city are very easy! Starting a business in Dubai is quick and easy, unlike many other places in the world. Today, several free economic zones in the UAE provide tax and customs privileges for businessmen. This procedure promises that commercial projects will be profitable in the short term.

Many people think that the economy of the United Arab Emirates is largely dependent on oil, but this is not the correct belief. The modern economy of Dubai includes many sectors and areas, including the hotel industry, tourism industry, import and export of household appliances and cars, international passenger and cargo transportation, real estate, etc. Even today, UAE is growing rapidly in the field of advanced technologies!

The United Arab Emirates is a paradise for investors

There is no such thing as taxes in UAE, which is why Dubai is the choice of many foreign investors and businessmen. All major international companies have their representative offices in Dubai. 

All this is due to the absence of barriers to international trade, and the import and export of goods without customs duties. Considering such economic features of this country, one can clearly understand the reason why Dubai is attractive for international trade and commerce.

Geographically, Dubai is located in the center of the Middle East. This city has access to Asia, Europe, the Commonwealth of Independent States, and Africa. It is also located on important commercial and international trade routes that connect different cities such as London, Moscow, Hong Kong, Hamburg, etc.

Dubai has a very convenient location for international transportation. All major trade routes of the world meet in Dubai! This has made it the largest center of export and import of goods in the world. Such a strategic position between the East and the West brings certain advantages for the establishment of international trade and business relations.

The reasons that attract Real Estate Investors to UAE

Above, we generally mentioned some ideal conditions of UAE. In the following, we briefly mention some of the reasons that make the UAE and Dubai attractive for buying real estate.

1.      Economic and political stability

Since its inception in 1971, the economy of the UAE has been largely dependent on its oil and gas exports, however, progressive government efforts have allowed for other sectors such as real estate and tourism.

The UAE’s strong foundations, built on its security and economic strength, as well as its progressive vision and policies, allow more than 200 nationalities to live and thrive together, placing the country at the forefront of trade in the region.

According to the Global Competitiveness Report in 2019, the United Arab Emirates was named the 25th most competitive economy in the world. Some of the factors influencing this ranking are strategic location, strong financial reserves, and fixed government spending on infrastructure, digital transformation, and innovation.

2.      Strategic location

UAE is strategically located between Asia, Europe, and Africa. The country’s proximity to some of the strongest economies in Asia offers many business opportunities for those based in the UAE. From world trade and international trade to tourism, Dubai is ideally located! The geographical location of the UAE makes up almost two-thirds of the world’s population in this country with a six-hour flight!

Emirates is one of the fastest airlines in the world, connecting people around the world to more than 150 destinations.

3.      Successful government policies

Dubai is one of the immigration destinations for professionals from all over the world. The UAE offers unparalleled opportunities for international commerce, as well as investment. 

Having an efficient tax system and sound policies make this country an ideal place to start new businesses or invest.

Additionally, the absence of property and income taxes makes it an incredibly lucrative place for businessmen and investors compared to other parts of the world.

In recent years, the government has come up with a variety of innovative ways to attract and retain talent from around the world. Policies and programs such as the Dubai Virtual Work Program, the Dubai Retirement Program, and the 10-year Golden Residency Visa allow qualified professionals such as doctors, entrepreneurs, and innovators to make Dubai their permanent home.

In the financial sector, it should be emphasized that the national currency of the UAE is linked to the US dollar. This helps to reduce the risk of the national currency of the UAE. AED has a fixed rate that has maintained its value in recent years.

The banking sector is also very active in this country. UAE banks can provide customers with a complete set of modern banking services. The absence of restrictions on capital flows, exchange operations, and profit withdrawals reaffirms the reasons why Dubai is attractive for international business.

Reasons why Dubai is attractive for investors

In short, it can be said that the following reasons have made Dubai and the UAE attractive to real estate buyers:

• The economic and political stability of the UAE creates positive effects on the city of Dubai.

• Registering a company in Dubai is very quick and easy, which is one of the most important aspects cited by foreign investors.

• Dubai is one of the richest cities in the world and offers a good quality of life with high standards.

• Dubai is one of the main business hubs in the Middle East.

• Dubai has one of the most impressive infrastructures in the world in terms of road construction, airways, and transportation technology, the Dubai Metro is the longest driverless metro network in the world.

• The United Arab Emirates is located in a very strategic place on the world map. It has a distance of approximately 6 hours from the big cities of the east and west and is known as a center; Dubai is easily accessible and has direct flights from all major cities in the world.

• Investors and employees with a specific skill can get a 10-year residence visa.

Committing to such an option for a long-term stay shows Dubai’s confidence in investment, and shows how safe investing in the city is after all.

• Dubai is very safe and has a very low crime rate, making it a great place for families and wealthy individuals.

• Dubai offers one of the highest rental yields, compared to global ownership destinations, the cost of buying in Dubai is lower while rental yields are higher.

• One of the strengths of Dubai compared to other important cities in the world is its tax system

Despite the changes applied to the tax system in the last two years, such as the introduction of value-added tax and indirect tax, choosing Dubai for investment is still a good choice due to its tax system.

What Are the Best Developments in Dubai for Buying Real Estate?

It is clear from the above information why many people keep moving to Dubai every year. But, before you decide to buy an apartment, a townhouse, or a villa in Dubai, let me first introduce you to some of the best developments in Dubai. 

·         Palm Jumeirah

One of the best developments in Dubai for buying real estate is the palm, which are on top of the list of the best places to buy Dubai property. As far as the best development is concerned, it has all the advantages associated with a unique location and a wide variety of projects that will be reliable investment prospects.

Palm Jumeirah is one of the most reliable places to invest in Dubai and one of the best places to buy property in Dubai.

Thanks to its luxurious location and exciting projects such as Palm Beach Resort and lotteries, it is certainly a great area to explore. The prices of apartments here have remained stable. With 1-bedroom apartments for 2.14 million AED and 2-bedroom apartments for 2.58 million AED, they attract buyers and investors to buy property in this beautiful area.

However, Palm Jumeirah is also popular with buyers looking for villas, with 3-bedroom villas available for AED 6.2 million.

·         Dubai Marina

Although you may not like Palm and its projects for your dream investment, there are other great locations where you can find the best developments in Dubai for buying real estate, including Dubai Marina, so don’t worry.

If you’re one of those investors who are looking for a waterfront location in Dubai, you could be sure that Dubai Marina high-rise apartments for sale in Dubai Marina could be a perfect choice for you.

Moreover, you will have the opportunity to choose your favorite home from pavilion villas in this area, as well as to enjoy the abundance of restaurants, shopping malls, and other amenities around this region. I must mention, additionally, that Emaar’s coveted Bluewaters Island project is something that will charm the Dubai real estate market for a long time to market.

Dubai Marina is inspired by the development of top and well-known projects such as Concord in Vancouver, Canada. The city is an artificial canal built along a 3 km (2 mi) stretch of the Persian Gulf coastline. 90% of the 200 skyscrapers surrounding the marina, including the Princess Tower, the tallest residential building in the world, are residential blocks. This has caused this area to accommodate a large population. The huge population of this area is one of the best places to buy property in Dubai, which has provided very good business and investment opportunities.

The price of apartments in this area has also remained stable. 1-bedroom apartments are sold for 1.15 million AED, and 2-bedroom apartments for 1.9 million AED.

Downtown Dubai

It is a well-known fact that Downtown Dubai is one of the best places to invest in real estate due to its famous Burj Khalifa. Property for sale in Downtown Dubai has become one of the most popular options for investors and businessmen looking for high corporate potential properties.

There are many places and landmarks in the area that are known as the “Center of Now”, including the Dubai Mall and Mohammed Bin Rashid Boulevard, which are the safest places for real estate investment in Dubai.

Downtown Dubai, home to The Dubai Mall, Burj Khalifa, and Mohammed Bin Rashid Boulevard, is famous for its high-rise apartments and is another of the best places to buy property in Dubai. Dubai’s Burj Khalifa is currently one of the most visited tourist attractions in the world. Therefore, the charm of this area will surely last.

The vernacular Arabic low-rise architectural style prevails in the old city, while contemporary high-rise buildings dominate the rest. Downtown Dubai has a collection of high-end hotels such as Address Downtown, Vida Downtown, and Al Manzil Downtown, as well as attractions such as the luxurious Arab Bazaar, Souq Al Bahar, and a 3.5-kilometer strip of restaurants and cafes on Sheikh Mohammed Bin Rashid Boulevard.

Studio apartments (apartments with a small space and an open design) are usually priced at 920,000 AED, while 1-bed apartments sell for approximately 1.45 million AED.

·         Jumeirah Village Circle

Today, all real estate investors who are searching for an excellent investment opportunity in Dubai, are aware of Jumeirah Village Circle apartments for sale, which are now available on the market. There are many multipurpose developments located there, in strategically located other famous areas like Dubai Marina, Jebel Ali, and more.

There are also many beautiful projects the city has to offer, like Bloom Heights and Belgravia II, where you may be able to find the home of your dreams if you are looking for one in this area.

Jumeirah Village Circle is built on an area of 870 hectares and is divided into six areas. Housing here includes large villas, townhouses, and apartments, and while you can find ready-made properties here, there is also a lot of construction activity going on.

Circle Mall is under construction with 235 shops, an anchor supermarket, two department stores, a multi-screen cinema, a health clinic, cafes, restaurants, and a food court. A large number of villas are either complete or under construction, and more than 100 residential, commercial, and hotel buildings are in the design stage. But among them, there are also some unfinished and abandoned ones.

The quality of buildings varies depending on their development and completion, and it varies from large development projects to inferior and smaller buildings.

Slightly more affordable than Palm Jumeirah and Downtown Dubai, 1-bedroom apartments here typically sell for AED 740,000. While 2-bedroom apartments are sold for approximately 1.1 million AED.

·         International City

An attractive area of residences, tourist attractions, and businesses, International City is renowned for offering extremely high rates of return.

This area is placed in repeating patterns of so-called clusters, each of which is named after a different country and designed using the architectural styles of that country: England, UAE, Russia, Italy, Spain, France, Iran, Greece, Morocco, and China.

There are 485 apartment buildings in 9 residential areas and the central business district. Rents here are relatively low for Dubai as the apartments are designed for low to middle-income earners.

A 1-bedroom apartment typically sells for AED 305,000, while a 2-bedroom apartment sells for AED 520,000.

·         Dubai Business Bay

Dubai Business Bay is another top development in Dubai for buying real estate. With the well-equipped infrastructure to promote business, business, and luxury living.

Due to its unique location next to DIFC (Dubai International Financial Centre), Free Zones (where foreigners can buy and rent property in Dubai), and the world’s tallest tower, Burj Khalifa, it is an ideal place to invest in. It is Dubai.

Business Bay, which is still under development, includes 64 million square feet of freehold projects.

Dubai Business Bay has more than 240 well-equipped towers, offices with full or semi-equipped indoor and outdoor facilities, in state-of-the-art buildings with superior facilities, which you can choose from if you are looking to buy or rent a commercial office. In addition, most towers offer residential apartments for rent and sale as well as lovely penthouses and garden villas.

For more information on 1-bedroom and 2-bedroom apartments for sale in Dubai or for more advice on the best places to buy property in Dubai and the best areas to invest in, contact us.

Frequently asked questions about developments in Dubai for buying real estate.