The Future of Beachfront Living in Dubai
September 20, 2018
A house overlooking the sea and isolated from the hustle and bustle of modern civilization is one of life’s true luxuries. For many however, this is seen as a lifestyle accessible only to the ultra wealthy, from incredible waterfront homes in the Hamptons to luxury apartments in Miami. In Dubai, beach homes could be found on the man-made island of Palm Jumeirah, which was designed as an exclusive lifestyle destination. One could buy a villa on the ‘fronds’ of the Palm or on the frond tips, which continue to be among the most prestigious addresses in the city. Over time, this idea of luxury extended to hotel apartments that provided fully furnished luxury homes with the benefit of five-star hospitality services.
As Dubai has continued to grow in both the size of its population and its diversity, the concept of affordable luxury has begun to take root. Many of the newer projects in the city offer high-end beachfront homes that come with a more manageable price tag. Manageable in a relative sense of course, as the prices are still on the higher end of the market, but not as high as what you might expect to pay for a Palm villa. As an added incentive, many of them also have very reasonable payment plans.
The communities of Dubai Marina and Jumeirah Beach Residence are perhaps the poster children of this new wave of luxury communities in Dubai, combining all of the comforts one would expect of a high-end neighborhood with a price point that doesn’t require deep pockets. This in turn has led to a rise in new residential projects aimed at a broader spectrum of home buyers.
The year began with noted property developer Emaar announcing Emaar Beachfront, a private gated island connecting directly to the neighboring areas of Palm Jumeirah and JBR. Three residential towers have been launched within the master project thus far, the latest of which launched earlier this month. At about the same time, Meraas, another highly renowned developer, also launched a stunning new project called Port de La Mer. This is the latest addition to La Mer, a beachfront master community that also includes a public beach and a waterpark. Port de La Mer is set on a peninsula jutting out of the coastline and is centered on a world-class yacht marina.
Reading about private islands might create the impression of ultra exclusivity again, but these projects are not just for the VIPs and the occasional celebrity. Both Emaar Beachfront and Port de La Mer are priced in a significantly more affordable range than many of their global counterparts, while still offering the very highest standards of both build quality and aesthetic design
For buyers, this is of course fantastic news. It provides an unparalleled opportunity to purchase a luxury home with the benefit of a great location and all the perks that come with it. But this also creates a lucrative market for investors who will be buying into an exciting new community. Emaar Beachfront, as an example, is going to be a hub of maritime tourism and will be a bridge between other key waterfront areas in Dubai. La Mer on the other hand holds the distinction of being the first freehold development in Jumeirah. These factors already make both of these projects very attractive for the savvy investor. When you add in the price and payment plans that offer plenty of breathing room between installments, it is a chance too good to pass up.