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11 December 2023

Investors set sights on Dubailand

Dubailand (FILE)

By Parag Deulgaonkar

Investors are looking at the option of buying and renting apartments in Dubailand, while Dubai Marina continues to be their primary choice, according to Propertyfinder.ae.

“Although Dubai Marina’s stronghold slipped in the last quarter, it still maintains the top spot for buyers and renters. Dubailand jumped from 18th place in the third quarter to 10th place in terms of location searches,” the property website said in its fourth quarter report.

In December, Emirates 24|7 reported that Dubailand was becoming the next affordable housing destination in Dubai. About one-fourth of the total new supply pipeline in the emirate is in Dubailand where 4,000 to 6,000 new residential units are likely to be handed over this year.

Dubai Marina tops the list with 18.86 per cent of the total sale searches and 19.51 per cent of total rental searches.

Maximum number of people searched for properties not exceeding Dh1 million as they ignored units costing Dh5 million to Dh10 million. Two bedroom units were the preferred choice with studios becoming non-existent when searching. 

In terms of lease searches, Tecom, Sheikh Zayed Road and Dubailand saw an increase in the fourth quarter. Areas with short-term rental options showed more interest and proeprties being leased below Dh50,000 per annum showed the maximum interest.
Properties with rental over Dh150,000pa diminished immensely with one bedroom units topping the demand chart.

The search results, according to Propertyfinder.ae, are stemming from over 600,000 visits, three-million property page, 120,000 properties and 200 brokers.