Bullet-Point Property: Dubai No. 66

This week we learned that the commercial insurance unit of Warren Buffett’s Berkshire Hathaway has expanded into Dubai, after getting a license from the local regulator. Berkshire Hathaway Specialty Insurance Company (BHSI) established an office in the Dubai International Financial Centre (DIFC)

The press has also reported that there have been 1,600 new business registrations in January 2018 and that the number of active businesses in Dubai increased to 148,842 in 2017, including 19,877 new trade licenses issued in 2017, according to the Dubai Economy, the trade licensing body of Dubai Government.

These are some of the properties that we have been talking about this week:-

After the successful launch of Beach Vista at Dubai Harbour in January 2018, Emaar is to release their second beachfront property on the island located between the Palm Jumeirah and the JBR. It’s called Sunrise Bay, a premium luxury tower with exclusive use of a 1.5km stretch of private beach. We don’t have prices though best guestimates are that one bedswill range from AED 1.3m to AED 2.0m, two beds from AED 1.9m to 2.8m, three beds from 3.5m to AED 4.1m and four beds at AED 6.5m. Prices will depend upon the view, size and floor level. I will be at the launch on Sunday 18 February on behalf of overseas clients, register your interest here

Construction is moving along quickly at Studio One in Dubai Marina, they have reached the 11th floor of the 31-storey tower and are on target to deliver in March 2019. We have a few apartments available with one bedsstarting at AED 945k and two beds ranging from AED 1.3m to AED 1.6m. A quality building with expected strong rental and growth returns.

Developers in Dubai Marina tend to place the one beds and studios at the back or side of their buildings leaving them without much of a view. However this week I visited the No 9 construction site to check on a onebed that we have for sale, and although it's at the side, the angle of the building allows for the apartment to have a clear view of the water and the many yachts moored. The price of AED 1.49m is good for a quality apartment with a water view that will be completed and handed over later this year. Pay 10% now and nothing until its finished.

Mohammed Bin Rashid Al Maktoum City (MBR) located adjacent to the Downtown Burj Khalifa District and Business Bay (Dubai’s CBD) consists mainly of low rise buildings surrounded by parks and greenery, it’s the home to the Dubai World Cup, the richest horse race in the world, and now to Wilton Terraces I & II. These quality apartments represent excellent value for the features, design and location and I believe they will be highly sought after by tenants and buyers when handed over in 2019. We still have one beds at circa AED 1m and two beds at AED 1.45m, comparable quality apartments in such a central location if completed would cost far more so we expect some excellent growth and yields

LIV Residences continues to be one of our top recommendations for those looking for a quality apartment in Dubai Marina, a well designed contemporary high rise building located on one of the last waterfront plots and just a short stroll to the beach. A clever architect has made sure that 70% of the apartments have a view of the Marina with the remainder having a partial view of the sea and the Palm Jumeirah. We have studios at under AED 900k, one beds at AED 1.2m, two beds at AED 1.9m and three beds at AED 2.8m all on a 30/70 payment plan and the handover of the keys scheduled for next summer

Just a few of our current listings