10 of the Most Valuable Real Estate Developments in

DubaiDr. Ehsan Bayat

10 of the Most Valuable Real Estate Developments in Dubai• In a recent interview, the director general of the Dubai Land Department

observed that the Dubai real estate market is poised for considerable growth in the coming months. Investors have also demonstrated their faith in the market, with the city recording more than $3.2 billion in transactions in just the first two weeks of 2017.

• Property developers in Dubai understand the power of perception, as evidenced by their collaboration with big-name designers to create some of the most visually appealing buildings in the world. This new real estate has the unique ability to immediately impact market sentiment and eventually affect area prices and long-term property values.

• Here are 10 examples of properties generating attention and contributing to the flourishing Dubai market:

World Expo 2020 site

• Organizers of World Expo 2020 anticipate 25 million visitors from more than 180 countries during the seven-month event. Covering 438 hectares, the Expo will showcase the best in architectural vision and sustainable design, centered on a theme of “Connecting Minds, Creating the Future.” Organizers view the World Expo 2020 as an opportunity to position Dubai for economic success and build a legacy in real estate and technology.

Dubai Metro extension

• The Dubai Metro extension will significantly contribute to the success of World Expo 2020. At a cost of 10.6 billion dirham, the new transit section will span 15 kilometers and include five above-ground stations and two underground ones. In addition to connecting visitors to the World Expo site, the new route will help as many as 47,000 people a day reach Al Maktoum International Airport, Dubai Investments Park, and several other key locations. Image by Stefan Wisselink |

Flickr

Meydan One

• Announced in 2015, the Meydan One project aims to set a new standard for innovation in Dubai. The masterplan includes a mall, a sports facility, and a five-star hotel. In addition, the development will feature a residential tower, an indoor ski slope, and dancing fountains, all of which will set world records for size. Developers at Meydan expect to finish the first phase of construction by 2020. Image by Foremind ArchiMedia |

Flickr

Dubai Opera District

• The Dubai Opera District revolves around the newly built Dubai Opera, a 2,000-seat performing arts venue that can host a wide variety of entertainments. Surrounding the venue are several world-class hotels and residential towers, including the Opera Grand, Forte, and the Address Residences. The district will soon be home to the Act One, Act Two apartment towers, which Emaar Properties announced in 2016.

The Tower at Creek Harbour

• Another major project slated for completion by 2020 is The Tower at Creek Harbour. The design of this record-setting tower features a series of aesthetic cables that will help tether the structure to the ground. Each cable will light up at night to give the visual effect of harp strings sweeping down and away from the building. For a panoramic view of Dubai, guests can visit the structure’s multiple observation decks and gardens.

Dubai Water Canal

• A joint endeavor, the Dubai Water Canal connects Business Bay to the Arab Gulf, a distance of 3.2 kilometers. The canal ranges between 80 and 120 meters wide depending on the exact location, and crossing the water are five pedestrian bridges. Along with the appealing boardwalk aspect of the project, the Dubai Water Canal will soon feature floating homes and restaurants, as well as a yacht club.

Image by Francisco Anzola | Flickr

City Walk

• The City Walk development is an indoor/outdoor mall designed to be a self-contained community, complete with a glass roof covering visitors as they walk the “streets” to shop and dine. Along with its retail and entertainment offerings, the mall will soon house residential space and a hotel. One unique aspect of City Walk is that it features European-style architecture reminiscent of London during the reign of King George VI.

ICD Brookfield Place

• Designed achieve top sustainability certifications, ICD Brookfield Place will join the skyline of the Dubai International Financial Centre district in 2018 and house its first tenants in 2019. The tower will reach 282 meters and comprise 900,000 square feet of high-end office real estate. ICD Brookfield Place will also adjoin a retail building with 150,000 square feet of leasable space.

Mall of the Emirates

• The Mall of the Emirates in Dubai is known as the world’s first shopping resort. In 2015, it underwent an expansion that added 36,000 square meters of retail, entertainment, and dining space. One of the major attractions at the mall is Ski Dubai, the first indoor ski resort in the Middle East. The mall also features two adjoining five-star hotels.

Image by John Karwoski | Flickr

Dubai Marina

• Dubai Marina, the premier waterfront community in the region, spans 50 million square feet and includes 10 distinct zones, each with its own personality. Strategically located along a large canal are a mall, a variety of dining options, and the Dubai Marina Yacht Club, where boat owners can berth their vessels and enjoy a meal on the boardwalk. Dubai Marina also boasts a wealth of luxury apartments, villas, and hotels.