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UAE Pricing Study July 2017
PO Box 474103 Dubai United Arab Emirates t +971 44205316 [email protected] www.britisharabian.com
UAE Residential & Commercial Pricing Study
July 2017
REGULATED BY RICS 1
UAE RESIDENTIAL & COMMERCIAL PRICING STUDY
The purpose of the study is to give the reader an indication of the typical values of property in various established residential and commercial areas of Dubai and Abu Dhabi. We would stress that the study is not a formal valuation and under no circumstance should it be used as the basis for lending, buying or selling property, it serves only to indicate the prices and values achieved by a sample of properties in the areas listed.
The data used as the basis for this study is obtained through a variety of sources. The sources include actual mortgage transaction data provided by some of our bank clients, and other transactional data provided by both clients and trusted and reliable third parties.
Valuation is not an exact science, and this is particularly true in the residential sector, where buyer sentiment is all-important. Many factors demand consideration, such as view, aspect, proximity to local amenities, orientation, decoration and condition. Moreover, there is currently no standard method of reporting measurement, and different developers may include common area or balconies, and some may not. For these reasons, a "price per square foot”, applied in isolation and without regard to other material factors is not a reliable way of assessing values, and a professionally qualified and experience valuer should be engaged to give an opinion of value when assessing the true Market Value.
British Arabian Chartered Surveyors are now well into our sixth year of operation. Our core business is valuation of assets, both real estate and tangible business assets. We are listed as panel valuers with some of the most active mortgage lenders in the UAE. In addition to our residential valuation work we undertake commercial valuations across the UAE and into the wider MENA region. I encourage you to visit our website www.britisharabian.com for full details of our services.
Richard Sweetman MRICS - Managing Partner RICS Registered Valuer 1105144
UA
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Residential Pricing Study
The following residential pricing study has been categorised into areas across D
ubai and Abu D
habi with individual buildings and com
munities listed. A
n overall indicative price for the specific area has also been given. D
ubai Em
irates Living Com
munity
Indicative price per sq ft
C
omm
unity Type
Status D
eveloper (s) From
To
Em
irates Hills
Luxury Villa
Com
plete E
maar/ P
rivate 1470
3400 The G
reens A
partments
Com
plete E
maar
1100 1600
The Lakes (Excludes H
attan) V
illa C
omplete
Em
aar 1200
1650 The M
eadows
Villa
Com
plete E
maar
1200 1870
The Springs
Townhouse
Com
plete E
maar
950 1350
The View
s A
partments
Com
plete E
maar
1000 1750
Total
1153 1930
The Palm Jum
eirah
Indicative price per sq ft
C
omm
unity Type
Status D
eveloper (s) From
To
Signature V
illas (High E
nd) Luxury V
illa C
omplete
Nakheel/P
rivate 3750
6500 S
ignature Villas
Luxury Villa
Com
plete N
akheel 2500
4300 G
arden Hom
es Luxury V
illa C
omplete
Nakheel
1900 3000
Shoreline A
partments
Apartm
ents C
omplete
Nakheel
1000 2000
Tiara Residence
Apartm
ents C
omplete
Zabeel Properties
1350 2200
Marina R
esidence A
partments
Com
plete N
akheel 1100
2000 G
olden Mile
Apartm
ents C
omplete
IFA H
otels & R
esorts 900
1450 Total
1785
3065
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Dow
ntown D
ubai and Business B
ay
Indicative price per sq ft
Com
munity
Type Status
Developer (s)
From
To B
urj Khalifa Tow
er (E
xcludes Arm
ani Residences)
Apartm
ents C
omplete
Em
aar 2200
4500 29 B
oulevard A
partments
Com
plete E
maar
1600 3200
8 Boulevard W
alk A
partments
Com
plete E
maar
950 1800
Claren Tow
ers A
partments
Com
plete E
maar
1365 2150
Dubai M
all Hotel
Apartm
ents C
omplete
Em
aar 2600
3900 O
ld Town C
omplex
Apartm
ents C
omplete
Em
aar 1350
3000 S
outh Ridge Tow
ers A
partments
Com
plete E
maar
1380 2875
The Residences
Apartm
ents C
omplete
Em
aar 1700
5000 E
xecutive Towers C
omplex
Apartm
ents C
omplete
Dubai P
roperties 1000
1700 S
tandpoint A
partments
Com
plete E
maar
1750 2900
The Lofts A
partments
Com
plete E
maar
1380 2300
Churchill R
esidency A
partments
Com
plete E
mirates N
ational Investment
1100 1650
Total
1530 2915
Dubai International Financial C
entre
Indicative price per sq ft
Com
munity
Type Status
Developer (s)
From
To C
entral Park
Apartm
ents C
omplete
Arady D
evelopments LLC
1550
2000 P
ark Towers
Apartm
ents C
omplete
Dam
ac Properties
1200 1700
The Building by D
aman
Apartm
ents C
omplete
Various
1600 2100
Limestone H
ouse A
partments
Com
plete U
nion Properties
1500 2100
World Trade C
entre Residences
Apartm
ents C
omplete
Jumeirah G
roup 1300
2150 Total
1430
2010
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Dubai M
arina and JBR
Indicative price per sq ft
C
omm
unity Type
Status D
eveloper (s) From
To
Shem
ara Tower
Apartm
ents C
omplete
Em
aar 1360
2400 M
arina View
Tower
Apartm
ents C
omplete
New
City D
evelopers 1000
2000 P
ark Island Com
plex A
partments
Com
plete E
maar
1300 2200
Em
aar Six
Apartm
ents C
omplete
Em
aar 1300
2500 P
rincess Tower
Apartm
ents C
omplete
Tameer
1200 2000
Marina D
iamond C
omplex
Apartm
ents C
omplete
Diam
ond Developers
1100 1650
Al M
ajara Towers
Apartm
ents C
omplete
Em
aar 1200
1950 M
ag 218 A
partments
Com
plete M
ag Property D
evelopment
1000 1800
Jumeirah B
each Residence
Apartm
ents C
omplete
Dubai P
roperties Group
1000 2200
Atessa
Apartm
ents C
omplete
Em
aar 1500
1950 D
EC
Towers
Apartm
ents C
omplete
Dheeraj G
roup & E
ast Coast
840 1300
Delphine
Apartm
ents C
omplete
Em
aar 1600
2000 O
cean Heights
Apartm
ents C
omplete
Dam
ac Properties
1200 2250
The Waves
Apartm
ents C
omplete
Dam
ac Properties
1000 1800
The Jewels
Apartm
ents C
omplete
Palm
a Holding
1100 1650
Silverene
Apartm
ents C
omplete
Cayan P
roperty Developm
ent 1550
2300 M
arina Pinnacle
Apartm
ents C
omplete
Tiger Properties
950 1400
Cayan Tow
er A
partments
Com
plete C
ayan Property D
evelopment
1440 2400
Total
1200 1985
Jumeirah Lake Tow
ers
Indicative price per sq ft
C
omm
unity Type
Status D
eveloper (s) From
To
Al S
eef Tower (A
partments)
Apartm
ents C
omplete
Deyaar
1000 1300
Al S
hera Tower
Apartm
ents C
omplete
Saleh M
ohd. Bin Lahej
950 1400
Global Lake V
iew
Apartm
ents C
omplete
Venus International
1000 1500
Lake City Tow
er A
partments
Com
plete Tiger P
roperties 850
1600 G
reen Lakes Towers
Apartm
ents C
omplete
AS
AM
1000
1500 Lake P
oint A
partments
Com
plete G
ulf General Investm
ents 840
1250
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Jumeirah Lake Tow
ers
Indicative price per sq ft
M
ag 214 A
partments
Com
plete M
ag Property D
evelopment
900 1400
Goldcrest V
iews
Apartm
ents C
omplete
Al G
urair Group
950 1500
Saba Tow
ers A
partments
Com
plete S
aba Real E
state 1000
1600 Total
943
1450
Jum
eirah Islands
Indicative price per sq ft
C
omm
unity Type
Status D
eveloper (s) From
To
Jumeirah Islands
Villa
Com
plete N
akheel 1100
2000 Jum
eirah Heights
Apartm
ents C
omplete
Nakheel
800 1350
Total
950 1675
Jumeirah Park
Indicative price per sq ft
Com
munity
Type Status
Developer (s)
From
To Jum
eirah Park
Villa
Com
plete N
akheel 835
1400 Total
835
1400 Jum
eirah Village Triangle
Indicative price per sq ft
Com
munity
Type Status
Developer (s)
From
To V
illas /Town houses
Villa
Com
plete N
akheel 800
1150 A
partments
Apartm
ents M
ix N
akheel 900
1200 Total
925
1175
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Jum
eirah Village Circle
Indicative price per sq ft
C
omm
unity Type
Status D
eveloper (s) From
To
Seasons C
omm
unity A
partments
Com
plete Ishraqah
650 1000
Sham
mal Terraces
Apartm
ents C
omplete
Ishraqah 700
1100 Tuscan R
esidence A
partments
Com
plete D
amac P
roperties 700
1150 V
illa Myra
Apartm
ents C
omplete
Skai
850 1200
Diam
ond View
s Com
plex A
partment/Tow
nhouse C
omplete
Diam
ond Developers
600 1050
Total
700 1100
Motor C
ity
Indicative price per sq ft
C
omm
unity Type
Status D
eveloper (s) From
To
Villas /Tow
n houses V
illa C
omplete
Union P
roperties 850
1250 A
partments
Apartm
ents C
omplete
Union P
roperties 690
1150 Total
795
1200 A
rabian Ranches
Indicative price per sq ft
Com
munity
Type Status
Developer (s)
From
To A
l Mahra
Villa
Com
plete E
maar
1000 1500
Alm
a Tow
nhouse C
omplete
Em
aar 1100
1445 A
lvorada V
illa C
omplete
Em
aar 1200
1585 A
l Reem
Tow
nhouse C
omplete
Em
aar 900
1250 H
attan Luxury V
illa C
omplete
Em
aar 1400
2400 M
irador V
illa C
omplete
Em
aar 900
1500 P
almera
Townhouse
Com
plete E
maar
850 1250
Saheel
Villa
Com
plete E
maar
900 1445
Terra Nova
Villa
Com
plete E
maar
950 1500
Savannah
Villa
Com
plete E
maar
1000 1500
La Colleccion
Luxury Villa
Com
plete E
maar
1150 1600
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La Avendia
Villa
Com
plete E
maar
1100 1800
Total
1040 1565
Sports City
Indicative price per sq ft
Com
munity
Type Status
Developer (s)
From
To E
lite Sports R
esidence A
partments
Com
plete G
GIC
O P
roperties 780
1000 V
ictory Heights
Villa/Tow
nhouse C
omplete
Victory H
eights 1100
1450 O
lympic P
ark A
partments
Com
plete G
GIC
O P
roperties 700
895 G
olf Tower
Apartm
ents C
omplete
Falak Properties
700 1000
Cricket Tow
er A
partments
Com
plete Falak P
roperties 700
1100 Total
795
1090 D
ubai Land
Indicative price per sq ft
C
omm
unity Type
Status D
eveloper (s) From
To
Falcon City of W
onders V
illa C
omplete
Falcon City of W
onders LLC
680 1000
Al B
arari V
illa C
omplete
Al B
arari 850
1200 S
kycourts A
partments
Com
plete N
ational Bonds C
orporation 650
930 The V
illa Project
Villa
Com
plete D
ubai Properties/M
azaya 650
1150 W
aha Villa
Villa
Com
plete D
ubai Properties G
roup 700
1100 Q
ueue Point at Liw
an A
partments
Com
plete M
azaya Holding C
O.
550 900
Mudon
Villa
Com
plete D
ubai Properties G
roup 800
900 Living Legends
Villa and A
partments
Under C
onstruction Tanm
iyat 800
1050 Total
710
1030
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International City
Indicative price per sq ft
Com
munity
Type Status
Developer (s)
From
To C
luster A
partments
Com
plete N
akheel 570
825 C
BD
A
partments
Com
plete N
akheel 615
880 Total
590
810
D
ubai Silicon Oasis
Indicative price per sq ft
C
omm
unity Type
Status D
eveloper (s) From
To
Cedre V
illas V
illa C
omplete
Cedre V
illas 800
1200 S
ilicon Gates C
omplex
Apartm
ents C
omplete
Al D
erea Group
700 1050
Axis R
esidence Com
plex A
partments
Com
plete G
GIC
O P
roperties 650
845 C
oral Residence
Apartm
ents C
omplete
Deyaar
650 850
Cordoba P
alace A
partments
Com
plete R
ockland Developm
ent 650
850 Total
760
930
IM
PZ
Indicative price per sq ft
C
omm
unity Type
Status D
eveloper (s) From
To
The Centrium
Tower C
omplex
Apartm
ents C
omplete
ETA
Star
600 900
Lago Vista
Apartm
ents C
omplete
Dam
ac Properties
600 900
The Crescent C
omplex
Apartm
ents C
omplete
Crescent D
evelopers 700
1000 O
akwood R
esidency A
partments
Com
plete D
eyaar 700
1150 Total
685
988
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Jebel Ali
Indicative price per sq ft
C
omm
unity Type
Status D
eveloper (s) From
To
Discovery G
ardens A
partments
Com
plete N
akheel 700
1050 A
l Furjan V
illa/Townhouse
Com
plete N
akheel 600
1200 Total
650
1100
D
ubai Investment Park (D
IP)
Indicative price per sq ft
Com
munity
Type Status
Developer (s)
From
To G
reen Com
munity
Villa/A
partments
Com
plete U
nion Properties
650 1000
Total
650 1000
Deira
Indicative price per sq ft
C
omm
unity Type
Status D
eveloper (s) From
To
Em
aar Towers
Apartm
ents C
omplete
Em
aar 700
1250 Total
700
1250 R
esidential Land Plots
Indicative price per sq ft
Com
munity
Type Status
Developer (s)
From
To U
mm
Suqeim
Land for V
illa C
omplete
Private
400 900
Mirdiff
Land for Villa
Com
plete P
rivate 350
750 A
l Barsha
Land for Villa
Com
plete P
rivate 250
650 A
l Quoz
Land for Villa
Com
plete P
rivate 250
400 A
l Warqa
Land for Villa
Com
plete P
rivate 140
350 Total
280
610
Abu D
habi
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Al R
eem Island
Indicative price per sq ft
Com
munity
Type Status
Developer (s)
From
To M
arina Square C
omplex
Apartm
ents C
omplete
Aldar P
roperties P.J.S
.C
1000 1650
The Gate Tow
ers A
partments
Com
plete A
ldar Properties P
.J.S.C
1200
1600 S
un and Sky Tow
ers A
partments
Com
plete S
orouh 1200
1650 Total
1133
1635 A
l Reef
Indicative price per sq ft
C
omm
unity Type
Status D
eveloper (s) From
To
Villas /Tow
n houses V
illa C
omplete
Manazel
600 900
Apartm
ents A
partments
Com
plete M
anazel 750
1100 Total
675
1000
G
olf Gardens
Indicative price per sq ft
Com
munity
Type Status
Developer (s)
From
To V
illas/Townhouses
Villa
Com
plete S
orouh (Aldar)
900 1200
Total
900 1200
Saadiyat Island
Indicative price per sq ft
Com
munity
Type Status
Developer (s)
From
To V
illas V
illa C
omplete
TDIC
1200
2000 A
partments
Apartm
ents C
omplete
TDIC
1100
2000 Total
1150
2000
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Com
mercial Pricing Study
Jumeirah Lakes Tow
ers
Indicative price per sq ft
Tower
Type Status
Developer
From
To Fortune Tow
er S
hell and Core O
ffice C
omplete
Executive H
oldings Ltd. 700
1100 G
oldcrest Executive
Shell and C
ore Office
Com
plete E
TA S
tar - Giga
700 1150
The Palladium
S
hell and Core O
ffice C
omplete
ETA
- AS
CO
N
900 1200
SA
BA
Office
Shell and C
ore Office
Com
plete S
aba Real E
state 895
1250 H
DS
Tower
Shell and C
ore Office
Com
plete H
ans Investments
600 1100
Indigo Icon S
hell and Core O
ffice C
omplete
Em
irates Properties
Investments
800 1250
Mazaya B
usiness Avenue
Shell and C
ore Office
Com
plete M
azaya Holding C
o. 600
1000 S
ilver Tower
Shell and C
ore Office
Com
plete D
MC
C
950 1350
Platinum
Tower
Shell and C
ore Office
Com
plete D
MC
C
950 1450
Gold Tow
er (Ag Tow
er) S
hell and Core O
ffice C
omplete
DM
CC
950
1450 H
DS
Business Tow
er S
hell and Core O
ffice C
omplete
Alternative C
apital Invest 600
1000 Jum
eirah Business C
entre 2 S
hell and Core O
ffice C
omplete
Al Fajer P
roperties 800
1250 D
ome Tow
er S
hell and Core O
ffice C
omplete
Nasser A
l Serkel
600 1050
Reef Tow
er S
hell and Core O
ffice C
omplete
Reef R
eal Estate Investm
ents LLC
900
1450 A
rmada Tow
ers 2 S
hell and Core O
ffice C
omplete
Arm
ada Group
700 1000
Fortune Executive
Shell and C
ore Office
Com
plete E
xecutive Holdings Ltd.
800 1050
One Lake P
laza S
hell and Core O
ffice C
omplete
HA
N W
orldwide E
nterprises 800
1100 Jum
eirah Business C
entre 5 S
hell and Core O
ffice C
omplete
Al Fajer P
roperties 950
1450 Tiffany Tow
er S
hell and Core O
ffice C
omplete
The Tiffany Group
800 1250
Jumeirah B
usiness Centre 1
Shell and C
ore Office
Com
plete A
l Fajer Properties
700 1150
Jumeirah B
ay X2
Shell and C
ore Office
Com
plete M
ismak P
roperties 800
1100 Jum
eirah Bay X
3 S
hell and Core O
ffice C
omplete
Mism
ak Properties
800 1250
Jumeirah B
usiness Centre 4
Shell and C
ore Office
Com
plete A
l Fajer Properties
900 1250
Sw
iss Tower
Shell and C
ore Office
Com
plete E
AT P
roject Ltd. 900
1300 A
l Seef Tow
er S
hell and Core O
ffice C
omplete
Deyaar
900 1350
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Business B
ay & D
owntow
n Dubai
Indicative price per sq ft
Tow
er Type
Status D
eveloper From
To
Vision Tow
er S
hell and Core O
ffice C
omplete
Dubai P
roperties Group
1400 1750
One B
usiness Bay
Shell and C
ore Office
Com
plete O
mniyat
1200 1600
Fifty One B
usiness Bay
Shell and C
ore Office
Com
plete D
eyaar 1000
1600 A
l Manara Tow
er S
hell and Core O
ffice C
omplete
ETA
Star
900 1450
Em
pire Heights
Shell and C
ore Office
Com
plete G
PD
Investments
745 1200
Burlington Tow
er S
hell and Core O
ffice C
omplete
Deyaar
1050 1500
Lake Central
Shell and C
ore Office
Com
plete Fakhruddin P
roperties 1000
1200 C
hurchill Executive
Shell and C
ore Office
Com
plete E
mirates N
ational Investment
1000 1400
Bay S
quare S
hell and Core O
ffice C
omplete
Dubai P
roperties Group
1100 1400
Oberoi C
entre S
hell and Core O
ffice C
omplete
Oberoi G
roup 1450
1700 P
rism Tow
er Fitted O
ffice C
omplete
Credo Investm
ents 1200
1700 B
ayswater
Shell and C
ore Office
Com
plete O
mniyat
900 1400
Oxford Tow
er S
hell and Core O
ffice C
omplete
Deyaar
900 1300
Citadel Tow
er S
hell and Core O
ffice C
omplete
Deyaar
900 1300
REGULATED BY RICS 13
CAVEATS 1. When determining the pricing structure, we have used the Direct Comparison approach. The Direct
Comparison approach involves making adjustments to the sales prices of comparable properties to account for
differences in location, plot area and shape, date of sale, potential views, aspect and other relevant points of
difference between the subject property and the comparable properties.
2. Prices indicated are categorised as follows:
a. Low Range – This refers to an apartment with an undesirable view or some other inherent defect, or a villa
with standard sized plot with no enhancements and an undesirable view.
b. High Range – This refers to an apartment with a desirable view, on a high floor or a villa with large sized plot,
enhancements and/or a desirable view.
c. Average Range – This refers to the average market transaction price for the project as a whole.
3. We have assumed that all properties/developments are freehold or long-term leasehold.
4. It should be noted that this report is a pricing study and should not be used for any other purpose than that
stated in the report. A pricing study Report is not a valuation report.
5. It must also be noted that all sales information is anecdotal and we have not sighted the original transfer
documents to confirm validity of the above sales prices.
6. We have not had access to any original documents, title deeds, planning consents or other specific details other
than those mentioned in our report.
7. It is assumed the land is occupied on a freehold basis or long leasehold and therefore our Pricing Study assumes
that it is not subject to any rights, obligations, restrictions or covenants.
8. It is assumed that the properties will continue to be utilized in accordance with the relevant legal and statutory
permits and is/are not subject to any adverse legal notices or proposals and no investigations on this issue have
been made.
9. The information contained in this report is provided in good faith and no responsibility can be accepted for
errors, omission or inaccuracies, which may become or subsequently become apparent as a result of inaccurate
or incomplete information as may have been provided. Certain information in this report may therefore be
subject to further verification.