- Dubai Marina is considered the most popular place to rent or buy a home in Dubai. It consistently ranks number 1 in terms of real estate searches and number of properties available for sale and rent on various property portals. The community is the largest in freehold Dubai in terms of number of projects, number of residential units and population.
- As of February 2016, we estimate that there are a total of 148 ready buildings and 23 buildings under-construction. According to the Lookup.ae database, we estimate a total of 28,500 ready apartments versus 4,800 under-construction apartment units.
- Dubai Marina is master-developed by Emaar. The developer has launched and completed several projects within Dubai Marina such as the First Six Towers, Marina Promenade, Marina Quays, Majara, Park Island, Address Dubai Marina, Dubai Mall and Sahab. The rest of the community has been developed by dozens of other developers who purchased land from Emaar and built according to community by-laws.
- As of Feb 2016, the community has reached a mature stage. There are only a limited number of plots remaining for future construction.
- Dubai Marina has the best public transport infrastructure in freehold Dubai. It is serviced by two Metro stations, a bus network and a tram-line that circles the community.
- Dubai Marina has strong retail components. The community is serviced by the Dubai Marina Mall (developed and managed by Emaar). Nearly all buildings have some retail components made up of supermarkets, restaurants and small businesses that cater to the local community.
Understanding Pricing for Apartments in Dubai Marina
Dubai Marina consists of mid-end, high-end and luxury quality apartments. In order to better understand prices in this community, Lookup.ae grade each building by quality and report prices every quarter for apartments based on quality classifications. Factors that help determine value include:
- Building quality & reputation: quality of property in Dubai Marina is not consistent (in the way Downtown Dubai or Palm Jumeirah are). There are 145 ready buildings built by dozens of different developers who have launched projects between 2003 – 2015 at different times and focusing on different demand drivers.
- Views: buildings that are directly along the Marina have higher values; apartments that offer Marina views are obviously the most highly-valued. This create some peculiarities. As an example, a marina facing apartment in a mid-quality building might have a higher capital value than a non-Marina facing unit in a higher-quality building.
- Sizes: this impacts value and price per sq. ft. that can be achieved. Few developments in the Marina offer very large apartments (examples include 23 Marina, Seef Tower and Emirates Crown)
- Proximity to Metro-stations and Tram-lines. Proximity to Jumeirah Beach Residence and the public beach.
- Exit and entry points. Some buyers highly value being near exit & entry points of the Marina to avoid peak time traffic congestion.
- Apartment layouts and design: buyers from particular nationalities value closed kitchens. Many buyers are particular about Vastu/Feng Shui and numerology.
- Upgrades done on existing apartments add value
- Rental return: most investors tend to purchase studio or 1 bed apartments in mid-end buildings as they offer the highest rental yields.
Classifying the residential buildings by quality
In the Projects section of Dubai Marina, there is a list of all the buildings in Dubai Marina which you can filter using certain criteria (height, quality, status etc.). In the Performance and Property Types section, you can track prices and other indicators over a period of time for apartment types by quality.
In order to deliver as accurate a picture of the pricing of real estate in the area, we have classified the residential buildings by quality and given them a tag of either ‘Mid-end, ‘High-end’, or ‘Luxury.
Classifying buildings is subjective. However, in Dubai Marina, the trends speak for themselves and help classify the buildings according to one of the three criteria that we applyIn general, buildings within each quality bracket tend to fall consistently within a specific price per sq. ft. range.
Examples of Mid-end buildings:
- Marina Diamond 1 – 6
- Manchester Tower
- Marina Wharf
- Marina Crown
- Marina Park & Marina Pearl
- ARY Marina
- Marina Crown
- Marina Pinnacle
- DEC Tower
Examples of High-end buildings:
- Iris Blue
- Trident buildings
- Marina Terrace
- The Torch
- Princess Tower
- Ocean Heights
- Marina Heights
Examples of Luxury Buildings:
- Emaar First Six Towers (Marina Towers)
- Marina Promenade