Jumeirah Village Circle (JVC) is an emerging neighbourhood in Dubai, with a mix of established and under-construction projects. A freehold master development by Nakheel launched in 2005, JVC is built over an area of over 870 hectares and is estimated to have approximately 28 residential projects under construction.
Starting in 2010, some projects started to get delivered – like Le Grand Cheatuea, Mirabella and Diamond Views.
In the heart of new Dubai, Jumeirah Village Circle is designed to provide a sense of community and has all the modern facilities of a city in a tranquil and village settings. It offers a healthy lifestyle while its communities provide all the amenities needed to live life to the fullest. Parks, sports fields, schools and mosques will be clustered throughout the abundant green expanses of the development so as to cater for the whole family.
Jumeirah Village Circle (JVC) is an emerging master-community of Dubai. As of January 2016, this community has anywhere between 95 – 110 projects in total with at least 75 – 80 that are completed. There is a lot of undeveloped land that remains in JVC and therefore, most observers believe that this community will only reach a period of maturity past the year 2020.
JVC was launched in 2005. The community is organized into 6 districts (Districts 10 – 16). All Districts (except for District 16) have the same plotting and characteristics. Between 2006 – 2008, dozens of projects were launched in JVC by renowned and first time developers. Launch prices for property in JVC in 2006 were about AED 500 – 600 per sq. ft and by late 2008 primary and secondary market prices had reached over AED 1,300 per sq. ft. When the market crashed in late 2008 and early 2009, most projects were put on-hold and only a handful of developers continued work.
Starting in 2010, some projects started to get delivered – like Le Grand Cheatuea, Mirabella and Diamond Views. As the market started reviving in late 2011 and early 2012, many deliveries started taking place and many other stalled projects were revived.
JVC has come a long way from the lows experienced in early 2009. Today, close to a hundred individual projects are completed in the community and while there are significant pockets of undeveloped land in the community, few doubt that these will gradually be developed.
Jumeirah Village Circle is one of the few communities in Dubai where all property types are available:
There are two villa communities within JVC both developed by Nakheel. In District 16, there are about 300 two bedroom villas which were completed in 2013. These units are renowned for their extra large plot sizes. In the center of JVC, there are about 90 four bedroom villas which Nakheel launched in 2012 and delivered in 2015. There are no other villa developments planned in the community, however, in 2012, Nakheel did sell a number of G+1 residential plots to investors. These have now been delivered and allow for the owner to build standalone villas. These plots are scattered throughout JVC.
In JVC, Nakheel developed about 400 one and two bedroom townhouses in District 12. These were all completed in 2013 and this part of JVC is mature. At the same time, since the launch of JVC, a number of G+2 (ground plus two storey) plots were sold to private investors / developers who in turn have developed several rows of townhouses throughout JVC. These rows of townhouses typically have anywhere between 8 – 15 units and are all built over three levels. Most of these row townhouses have 3 or 4 bedroom options and a handful even have 5 bedrooms.
As of January 2016, there is only one major recognized office building in JVC called Prime Business Center (a Grade B building). As there are many undeveloped plots in JVC, in the future we may very well see developers react to market demand and build office space. In the past few years, developers have launched mainly apartment, townhouse and hotel serviced apartment projects.
Since the market revival in 2012, a number of hotel serviced apartment projects have been launched by major developers in JVC including Damac (Vantage & Constella), The First Group (The One by Ramada Plaza) and SKAI holding (Suites in the SKAI).
Nakheel sold 97 G+1 residential plots in different areas of JVC where individuals could build their own villas. These have been one of the highest transacted property types in the community since 2012 and prices have more than doubled since their announcement. As of January 2016, several such villas have been completed and many more are under-construction.
These are classified as plots that developers can buy and build on. There are G+2, G+4, G+8, G+10, G+19 and G+unlimited plots available in JVC at various market prices. As this is one of the few communities where future construction can take place, commercial plots are regularly transacted.
Jumeirah Village Specialist
With over 12 years’ experience selling property in Dubai, Pooja Shah is a veteran of the Greenhouse Real estate company. Pooja’s honest, down to earth nature and no-fuss approach to doing business has earned her the trust and respect of a large and loyal group of clients. Having grown up in Dubai, she knows the area, the property market and the people well. Her local knowledge is a valuable resource for his clients, contributing to numerous sales records and consistently high prices for her sellers. Her belief that the success of a sale and the maximizing of the price relies on the ability to have properties standing out in the marketplace. “To give real service, you must add something which cannot be bought or measured with money, and that is sincerity and integrity”.