A home near the waterfront has often been the preferred choice for many posh and elite property owners, specifically in Dubai. No wonder the emirate has been expanding its coastline and creating new man-made islands in order to provide potential residents with as much waterfront living space as possible. Come 2020, there may be a large number of homes overlooking the water. Bayut.com has dug deep into the Dubai market to bring its readers up to date with upcoming projects in the emirate.
Regarding waterfront developments, work is speedily underway to make the dream a reality through the Dubai Water Canal Project, estimated at AED 2 billion. The project is nearly 40 percent complete and is due for completion by mid-2016. The development will include shops, hotels, restaurants, and luxury housing complexes. Gaining success from its first The Beach and the City Walk Projects, the company is planning two new waterfront projects which include Jumeirah Bay Island and Blue Waters. These are anything but ordinary projects as Jumeirah Bay Island offers an extraordinary view of the city’s skyline and Blue Waters plans to have a 210-metre high Ferris wheel matching the London Eye, along with the usual retail and residency units. These projects are due for completion next year.
Nakheel’s Deira Islands are not far behind as the four man-made masses will contain a 12 million square foot retail, residential, and leisure development called Deira Islands Mall, Towers, and Boulevard accommodating approximately 10,000 people. Mid 2017 will mark the opening of the night souk containing more than 5,000 outlets and catering to every imaginable desire of the late-nigh consumer. The project is due for completion in time for 2020.
While Dubai is known for its lavish construction and using every square inch of land possible to create majestic man-made projects, developers have realized the need for nature to be fully involved in the beautification of residential and luxury spaces. Using the waterfront as an attraction has been widely popular as mentioned above, but greenery is also an essential addition to the decoration process.
Damac’s Akoya Oxygen development recognizes this need and is called the “first green luxury residential address” with energy-efficient homes surrounded by an expanse of lush green fields and trees situated in the midst of an 18-hole golf course.
The whole purpose of the project is to reduce the carbon footprint on the environment, provide cleaner air and cooler temperatures in the midst of the scorching desert. The master plan has been designed very carefully and serves to minimise pollution. However, the amazement does not stop there as Akoya Oxygen will have its very own rainforest containing mahogany, teak, rosewood, and other trees with tropical fruit, nuts, rubber, and rattan. Akoya clearly defines what is expected of Dubai in the future and the expansion and evolution expected in the coming years.
The city is all set to expand in as many directions as possible over the coming years with an addition of new neighborhoods such as Mohammed Bin Rashid City which is due to be completed by the end of 2018 or early 2019. The project will have all the required components of future residential sites in Dubai including man-made beaches, retail and luxury strips, and a lush expanse of greenery while it will also house Mulberry at Park Heights. Dubai Creek Harbour and Dubai Creek Residences are also expected to add to the residential units offered by the emirate and will include Dubai Twin Towers, a yacht club, and will be connected to open parks. Sustainability is one of the key aims of the communities in question as they attempt to reduce the ecological footprint and Dubai Creek Residences is due to Ras Al Khour wildlife Sanctuary to cultivate and promote the diversity of wildlife.
Dubai is focusing on greenery and sustainability, but that definitely does not mean that there is an end to luxury residences. Branded residences are still the norm for Dubai in the future as well as the emirate will house Versace and Fendi branded residences. Trump PRVT will also house properties worth AED 6.5 billion fit with their personal swimming pools, spacious balconies, personalized golf buggy, and the luxuries offered by the Trump card worldwide. Likewise, Jumeirah Bay Island is set to feature Dubai’s first Bulgari-branded residences and will offer the most exciting and exclusive experience.
The run up to Expo 2020 seems rather exciting, not to mention versatile with waterfronts, greenery, sustainability, and branded residences all in the realms of the master plan. Residents purchasing property in Dubai in 2020 and afterwards are likely to have a lot to choose from!