Downtown Villas of Dubai Attract Global Investors with $1.9 Billion Luxury Projects
Wednesday, 28 August 2024
Dubai’s Al Wasl District is transforming into one of the city’s most sought-after residential areas. With an astounding AED 7 billion ($1.9 billion) worth of ultra-luxury villas and mansions under development, this area is capturing the attention of investors and homebuyers alike.
A New Jewel in Dubai’s Crown
- Location: Nestled in the heart of Dubai, the Al Wasl District is emerging as the “Downtown Villas of Dubai,” offering a unique opportunity for both end users and investors to acquire lavish freehold properties in a prime location.
- Signature Development: At the core of this development is the AED 1 billion Nordic by fäm project. This luxurious collection features 17 opulent villas and mansions situated close to Dubai’s Central Business District and elite lifestyle landmarks.
Exclusive Appeal
Firas Al Msaddi, CEO of fäm Properties, highlights the exclusive nature of this development:
- Proximity: The availability of freehold villas near downtown, the CBD, and Jumeirah Beach is essentially unique to the Al Wasl district.
- Scarcity: Although Dubai has over 10,000 waterfront luxury villas, only 140 new luxury villas are available in Al Wasl, offering unparalleled access to the city’s core. Foreign ownership is not permitted elsewhere in the area.
Rising Investment Interest
The new phase of development has already sparked significant interest, particularly from affluent expatriates who recognize the value of owning property in such a coveted location.
Luxury Redefined
- Design and Pricing:
- Villas and Mansions: The contemporary designs in the new Wasl District properties combine elegance with subtlety. Prices range from AED 40 million to AED 150 million, depending on the size, design, and finishes of the homes.
- Nordic by fäm: These Scandinavian-inspired villas, averaging AED 76 million, offer minimalist design at its finest. The most recent sale in this collection was AED 61.5 million.
- Value Comparison: Villas with a built-up area of 20,000 square feet are priced at an average of AED 75 million, which is twice the size of recent 8,000-square-foot penthouses in City Walk, selling for AED 35 million.
Investment Advantages
- Land Ownership: Unlike penthouse buyers, villa owners also acquire the land, adding significant value to their investment.
- Amenities: These villas feature private cinemas, spas, gyms, and both indoor and outdoor gardens for ultimate relaxation and entertainment. High-end finishes include frameless motorized sliding doors, expansive glass panels, and soaring ceilings.
Customization and Flexibility
- Design Options: Nordic by fäm offers bespoke design options for each villa or mansion. Buyers can choose from move-in-ready, fully furnished homes or properties still under construction, with flexible payment plans available.
The Al Wasl District is poised to become a landmark in luxury living, blending modern elegance with an unbeatable location in Dubai.
