Dubai Properties is a state-owned general contractor that is part of the Dubai Holding group of companies, which is almost entirely owned by the ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum.
Dubai Properties is a state-owned general contractor that is part of the Dubai Holding group of companies, which is almost entirely owned by the ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum. The company was founded in 2002 to implement the ambitious Jumeirah Beach Residence project, which involved the simultaneous construction of 40 high-rise buildings on an artificial island in the Dubai Marina area. Already a year later, the company announced the launch of another grand project - Business Bay. Since then, the company's portfolio has been replenished with half a hundred projects, two-thirds of which have already been completely completed.
The main task of the company is to implement the plans of the emirate ruler to develop Dubai as a world-class capital, attract investment and diversify the economy. Not all major projects announced in the early 2000s were implemented due to the global economic crisis of 2008-2013. Some objects, for example, 1/JBR, the company handed over with delays already after the recession. Nevertheless, the company is firmly on its feet thanks not only to the support of the royal family, but also to Dubai Holding's investments in such promising sectors of the economy as green energy and telecommunications.
Another major developer, Meraas, merged with Dubai Holding a few years ago, and recently the holding became the second largest shareholder of another well-known company in the Dubai real estate market - Emaar Properties - which indicates stable growth.
Dubai Properties projects are extremely diverse and include both entire communities and individual residential complexes, as well as iconic skyscraper districts and affordable real estate in mid and low-rise communities, such as Remraam and Mudon. The company's website allows you to download brochures with descriptions of objects and floor plans, and a special section publishes detailed information about the progress of construction, including photo and video materials.
Apartments
153 - 302 sq. m.
Dubai Properties gained fame as the general developer of Jumeirah Beach Residence, becoming the world's first developer to complete construction of 40-story buildings in one stage. Over six years, the company erected 35 residential buildings and 5 hotels stretching 1.7 km along an artificial island between Dubai Marina and the waters of the Arabian Gulf. The JBR area provided comfortable sea-view residences for 15,000 people and received the status of one of the largest residential neighborhoods in the world. Buildings executed in Mediterranean and Arab styles offer studios, apartments with 1-5 bedrooms, and penthouses of different sizes, complemented by shared pools, gyms, children's playgrounds, and other amenities.
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Through the joint efforts of Meraas and Dubai Properties, the district has been embellished with two locations that have become one of the main attractions of the entire city - The Walk JBR and The Beach. Filled with shops, restaurants, street performers, and various entertainment, these vibrant projects are harmoniously integrated into the beach area and the infrastructure of luxury hotels on the first line by the sea. Such a unique combination makes the JBR area extremely popular among both tourists and wealthy youth, especially for short-term rentals. Depending on the type of property, ROI in JBR can reach 6%, although apartments with 4-5 bedrooms are less in demand.
Another flagship project of Dubai Properties - the Business Bay district - is being built as a central commercial, residential, and business hub. It is adjacent to Downtown Dubai and stretches along the Dubai Water Canal from Ras Al Khor Wildlife Sanctuary to Sheikh Zayed Road. The company has created all the necessary infrastructure for the new urban area of about 6 sq. km and built a whole mixed-use microdistrict, Bay Square, a 60-story office skyscraper Vision Tower, a multi-story residential complex of two high-rise buildings Bellevue Towers, and the multifunctional complex Executive Towers, consisting of 10 residential towers, a commercial building, and a hotel.
The company continues to participate in the development of Business Bay with the Marasi Business Bay project, which provides for the construction of five yacht marinas, a pier with commercial areas for more than 100 retail outlets, a public park, and other infrastructure elements for recreation and entertainment. Such premium projects, combined with high transport accessibility and proximity to unique attractions of Downtown Dubai, have already made Business Bay one of the most prestigious areas of the city with continuously rising rental prices and ROI of up to 6.7%.
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