Top 4 Freehold Areas in Dubai with Buyer’s Advice
Dubai’s property sector has a very bright future, with prices on the rise and continuously increasing investment, it’s a great opportunity to invest for both locals and expats.
According to the statistics from the Dubai Land Department, as of October 2023, there was a 40.02% increase in property transactions as compared to October 2022. Thus, we can see that freehold areas in Dubai are a great avenue for investment.
So, to help you further, we’ll identify and discuss ten freehold areas in Dubai. Moreover, we’ll also highlight advice from authentic buyers to shed further light on the pros and cons of investing in any of these areas. So stay tuned and keep reading.
First, let’s start by understanding the concept of freehold property.
What is Freehold Property in Dubai?
What is a freehold area in Dubai? Since 2001, Dubai has allowed foreigners to buy property in the country based on a 99-year lease. This concept is known as the concept of freehold property, where you get ownership of both the land and the property itself. Freehold areas in Dubai are investment avenues that house freehold property.
The individual who buys a property is permitted to use it in any manner in accordance with the laws of Dubai, without approval from the government. The same goes for selling the property.
Now, we’ll provide you with a list of freehold areas in Dubai, where you can buy property.
4 Areas to Invest in Freehold Properties in Dubai
1. Dubai Marina
Dubai Marina is an artificial canal city spanning a 3-km stretch on the Persian Gulf shoreline. It’s situated on interchange 5 amidst the route to Jebel Ali port and the area that hosts the Dubai Internet City, Dubai Media City, and the American University in Dubai.
From an investment point of view, when it comes to apartments, you’ll find sizes ranging from studio apartments all the way to four-bedroom apartments. The price range for these apartments ranges from AED 850,000 to AED 7,600,000, depending on the location, amenities offered, and the number of rooms and bathrooms.
Now, let’s look at the options that you get for homes. When we talk about townhouses, we see a price bracket starting from AED 10,000,000 and topping to AED 13,500,000, depending on the covered area, rooms, and amenities being offered. The covered area of these townhouses ranges from 2400- 6100 sqft, and the amenities include a Gym area, Jacuzzi, and Swimming pools. So, you can choose the right fit, depending on your preferences.
But, that’s not all, Dubai Marina also houses Villas. Now, what’s the difference between a Townhouse and a Villa? Townhouses are houses attached to one another with a single, segregating wall. However, that’s not the case with villas.
Contrary to townhouses, villas have separate squared housing of their own, with a considerable gap between one house and the other.
In the vicinity of Dubai Marina, you’ll find elaborately designed villas, with multiple floors, providing a sea-facing view to lighten up your mood. Moreover, you can find the covered area that suits you, depending on the family size. In Dubai Marina, you’ll find villas with coverage areas ranging from 2100- 8700 sqft, and carrying a price tag that starts from AED 2,500,000 and goes all the way to AED 20,000,000.
Hence, Dubai Marina is home to some of the best residential accommodations, suitable for both investors and those looking for a great place to live.
2. Al Furjan
Al Furjan is another great freehold area in Dubai. The area borders the Jebel Ali Village and is situated near the Ibn-e-Batuta Mall, The Gardens, and the Expo 2020. Most homes in the area are built in Arabian-style architecture.
The Amenities offered at Al Furjan include community centers, sports facilities, retail stores, swimming pools, and landscaped gardens. Now, when it comes to accommodation options in Al Furjan, you’ll find apartments, villas, townhouses, penthouses, and residential plots.
Now, when it comes to apartments, you’ll find options ranging from studio apartments, all the way to multiple-bedroom apartments. The starting range for apartments ranges from AED 430,000 and ranges from all the way to AED 2,400,000. The area for these apartments ranges from 377 to 3000 sqft.
When you look further, you’ll also find townhouses. Townhouses in Al Furjan are based on both Arabian and Western styles, depending on your choice. When you explore the market, you’ll find properties starting from coverage areas of 2400 sqft, and going all the way up to 4000 sqft.
The price range for townhouses in Al Furjan begins from AED 2,860,000 and ends at AED 4,500,000. As always, the price factor depends on the location, and the amenities offered. For example, some townhouses also include a kid’s play and barbecue area.
Moreover, some communities also offer gyms, parks, and retail outlets. So, whether your preferred community offers these amenities will also influence property prices.
Now, let’s move further and talk about villas. Al Furjan boasts a wonderful collection of villas, such as corner, or road-facing villas. Moreover, you also get to make choices based on the number of rooms you’ll want, depending on your marital status and family size.
Villas in Al Furjan start with a coverage size of 2800 sqft and go all the way up to 6700 sqft. So. once again, you have various options to choose from.
These villas are offered at a price tag that ranges from AED 3,000,000, all the way to AED 70,000,000. So, there is a great variance and choice in the number of accommodation options that you get.
3. Business Bay
Dubai’s Business Bay is located in Downtown, Dubai. Although the name suggests that the area is a commercial hub, that’s not true. in fact, the area also houses numerous luxury hotels and a decent amount of residential buildings.
From a commercial perspective, Business Bay is a great freehold area in Dubai for investment as it provides easy access to Dubai’s ports and other business facilities.
When we consider the apartment accommodations in Dubai’s Business Bay, the area provides a vast choice for apartments. For example, you’ll find studio apartments and apartments with multiple bedrooms.
Apartments in Business Bay have a coverage area starting from 420 sqft and ending at 1800 sqft. The maximum number of rooms in the apartments is two. So, they’re great, accommodation if you have a small family, and want to live near to your workplace.
When it comes to commercial properties, the area is also home to shops, offices, and other commercial buildings.
At Business Bay, you’ll find shops starting from 560 sqft and going all the way to 3088 sqft. Furthermore, you can also find combined retail units ( Multiple shops merged into one).
When we consider the price range, these shops start from AED 1,070,000, and max out to a price tag of AED 14,000,000.
Moreover, Business Bay also provides mixed-use land. There are many plots available for sale, ranging from a coverage area of 164,000 sqft to 492,000 sqft. These plots are usable for hybrid projects such as constructing both commercial and residential buildings.
Business Bay also offers office accommodations suitable for various purposes. So, whether you lead a small team of professionals or a company with an elaborate hierarchical structure, Business Bay has the accommodations suitable for you.
Offices for sale in Business Bay start with a covered area of 314 sqft and reach the top at 2151 SQFT. Price-wise, these accommodations range from AED 600,000, all the way up to AED 3,000,000.
Hence, Business Bay is a multifaceted avenue for investment, where you can create a diverse revenue stream. As a resident, you can maintain an effective transition between work and home, by buying suitable accommodation near your workplace.
4. Palm Jumeirah
Palm Jumeirah is a set of artificial islands that houses private residences and hotels. The island is called the palm because if you look at it from above, the architecture resembles that of a palm tree. Now, let’s look at the accommodation and investment options available at Palm Jumeirah.
We’ll start with the apartments. Palm Jumeirah provides a wide range of apartments to choose from. So, you’ll find apartments ranging from studio apartments, all the way to apartments with multiple bedrooms.
The coverage area for apartments in Palm Jumeirah starts from 340 sqft for studio apartments and maxes out to 5900 sqft for larger apartments. The price range for these apartments starts from AED 1,450,000 and ends at AED 48,000,000.
Palm Jumeirah also provides a vast range of townhouses with varying architectural designs. At the Palm, you’ll find townhouses starting with a coverage area of 3720 sqft, all the way to 6850 sqft. Thus, you have a lot of choices, depending on your preferences.
Other than townhouses and apartments, Palm Jumeirah also offers penthouses. You’ll find various beachfront and duplex penthouses that are available in both small and large floor areas.
You can find penthouses ranging from 4100 sqft up to 25000 sqft in terms of coverage area, with a price tag starting from AED 12,500,000, and ending at AED 510,000,000. What makes penthouses in Palm Jumeirah unique is the aesthetic sea view that they offer, which adds to your overall living experience.
Investing in Freehold areas in Dubai is a great opportunity, particularly for expatriates. The top four freehold areas in Dubai are Dubai Marina, Al Furjan, Business Bay, and Palm Jumeirah.
These areas provide various investment avenues, and versatile accommodations which suit your priorities. So, whether you’re looking for a nice abode for your family or a good investment opportunity that yields a wholesome capital gain, these are the places to invest.
*All Prices Taken From Bayut