Jumeirah Beach Residence (JBR) is one of the hottest areas for real estate investment in the Dubai property market, with Bayut’s Dubai Property Market Report ranking it as one of the most lucrative areas for buying luxury property in the city. Why?
What is Jumeirah Beach Residence?
Located within the Dubai Marina, and along the Dubai coast, JBR is one of the largest residential quarters in the world, with thirty-five residential towers and five hotels being able to house 15,000 people. Dubai Properties, a subsidiary of Dubai Holding, began the development of the iconic area in 2002 as a AED 6 billion project and was completed in 2010. JBR itself is made up of:
The Walk: a near 2km strip filled with restaurants, hotels, clubs, and stores.
The Beach: a beachfront residential complex – with over seventy retail, food and beverage, and entertainment outlets.
Bluewaters Island: the latest JBR sub-district, is a man-made island opposite JBR and houses numerous apartments, villas, hotels, and entertainment facilities, including the Ain Dubai – the tallest Ferris wheel in the world at 689ft high! The island is also linked to Sheikh Zayed Road and has a cable car service connected to JBR, itself for easy pedestrian access.
Why is it an attractive investment?
Affordability and Diversity: JBR ranks high on the list of the most desirable residential areas to live in the UAE thanks to its spacious, sea-view apartments with various styles and at affordable price points. With numerous options, from studios to 3-bedrooms and penthouse apartments, JBR has space for everyone!
Amenity-rich area: JBR is at the center of Dubai’s tourism and entertainment industries, with thousands of tourists and residents flocking to the area on a daily basis. Its residents are able to live a luxurious, sea-side lifestyle, with direct access to amenities such as beaches, world-class restaurants, movie theatres, hotels, malls, and public transport stations (tram, metro, and bus!). If you go to JBR on the weekend, be ready for some long lines at the restaurants and plenty of traffic jams! Booming tourism industry: While Dubai’s tourism industry was hit hard during the early days of the pandemic, as global travel came to a standstill, Dubai’s tourism industry has had a V-shaped recovery thanks to the UAE’s effective handling of the pandemic. With one of the highest vaccination rates in the world, Dubai has been able to control the spread of the virus – with daily rates falling to record lows not since seen since early last year. As such, Dubai has become an oasis for international travelers and tourists, with thousands coming into the city on a daily basis. This has enabled popular areas like JBR to quickly bounce back and exponentially increase in value across the short-term and long-term rental spheres. With Expo 2020 right around the corner and millions of more attendees expected to enter the city, JBR’s long-term stock looks set to rise.
Faster price recovery: JBR has historically outperformed the overall Dubai property market thanks to the appeal of its prime properties and has even had a faster price recovery in recent cycles than Dubai Marina, with prices up 9.5% on average since January 2021 and 22% since H2 2020.
Centre of New Dubai: JBR is at the center of the rapidly developing ‘New Dubai’ area, with iconic districts like Dubai Marina, Downtown Dubai, Jumeirah, Palm Jumeirah, and Downtown Dubai all within a short walk, drive, or metro ride away.
Jumeirah Beach Residence looks to be one of the leaders in the Dubai property market’s recovery and may continue to be one of the premier areas to own property in as an investor. SmartCrowd makes sure to list lucrative properties in JBR on the platform – which you can invest in with as little as AED 500! Knowing where to invest can be difficult, but JBR should definitely be at the top of your list!