Out of the box

Waterfront real estate in Dubai .. Who will enter the game again?

Ismail Al Hammadi

December 15, 2020

I remember that the first person to address the implementation of waterfront projects in Dubai was "Emaar" in Dubai Marina, followed by "Nakheel" company, to give a new concept of luxury through its distinctive projects in Palm Jumeirah, which gave new impetus to waterfront real estate in the emirate, and increased its reputation as a kiss A favorite and home to the residence of the rich, famous and businessmen from around the world.

After a period of nearly ten years, "Meraas" company joined the same line, to find a place for itself on the coastline of Dubai on the Arabian Gulf Sea, through a group of real estate that varied between apartments, villas and lands. After that, Emaar, with partnerships, returned to the front of the market with new projects, no It is less innovative than its predecessors, and this is confirmation of Dubai's waterfront properties retaining their usual appeal.

Here we can say that the level of attractiveness and global competition characteristic of Dubai's waterfront real estate, according to its luxurious designs and charming views, in addition to its attractive prices compared to other global cities, contributed to raising the activity of the luxury real estate market, and pushing developers to the mastery of introducing innovative projects. It has a sense of creativity in designing in the magnificence of the site, which further enhanced its attractiveness to those looking for distinct housing experiences.

The reader's mind may associate the site with the name of the developer, and it is obvious that the prices of waterfront real estate are high in Dubai, and no one can buy it, and some may see it as a dream that is difficult to achieve in reality.

By logic, yes, the price of marine real estate in Dubai is more expensive than others in the interior regions, and the price difference in some projects exceeds 30%, but if you said that in a report by a market research company, issued last year, Dubai ranked third after Sydney and Perth, as the best The world's luxurious waterfronts, including waterfronts, in terms of value and prices, are ahead of Paris, Geneva, London, and Berlin.

Returning to the beginning of the topic, and by focusing on the most developers of marine projects on the ground in the Emirate of Dubai, we find that «Emaar» was the largest dominant in waterfront real estate, and comes at the forefront of its mega projects, the Dubai Creek and Beachfront projects on the Arabian Gulf Sea.

The question here is: Can we see a new developer who might enter to compete with the supply?

Especially since we are currently at a very favorable time in terms of climate to promote marine properties, and on the verge of a complete recovery of travel, aviation and the global economy, with fears about the Covid-19 pandemic beginning to fade away, as a result of the group of vaccines that have been developed, and have already begun to be marketed to countries, to eliminate The most deadly virus of its kind in human history, both morally and financially ... waiting for someone to enter the game again.

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