What Is Behind Popularity Of Business Bay, JVA?
Business Bay and Jumeirah Village Circle (JVC) are the top choices of property buyers in Dubai who are looking for options in the off-plan market. Let us look at what makes these two areas popular among buyers.
An under-construction central business district, Business Bay features many futuristically designed skyscrapers. It will have more than 240 buildings on offer for commercial and residential when it is fully developed. With the extension of the legendary Dubai Creek that has gone on to shape the face of Dubai, Business Bay, which is known as a city within a city, offers a wide variety in terms of choices.
It is in close proximity to the iconic Burj Khalifa, and is also near to the Downtown Dubai area. Being a prime business district, it attracts people from various walks of life and is a logical choice for people working in Downtown Dubai or in the Dubai International Financial Centre (DIFC). The area is self-sufficient with restaurants, cafes and retail outlets.
The mixed-purpose development of Business Bay near the Sheikh Zayed and Al Khail roads offers free-zones where ownership of properties is also open to foreign nationals with a large number of properties coming up in the market every month.
For those looking for high standards of living, Business Bay real estate is the answer. Average price for a 2BHK apartment here is AED 1,595,294. For a 1BHK apartment you have to shell out an average of AED 1,339,818 while average cost for a studio apartment is AED 1,176,036.
Jumeirah Village Circle
A quiet neighbourhood in Dubai, JVC is quite popular among buyers. Built over 870 hectares, JVC is a freehold master development which has about 28 under-construction projects at present. Located at the arterial road Sheikh Mohammed bin Zayed Road, between the Al Khail Road and the Hessa Street, JVC offers superior connectivity to people working in the Dubai Media City and the Dubai Internet City. Dubai Marina Mall, Mall of Emirates, Ibn Batutta Mall and Dubai Pearl Mall are some of the famous shopping malls near JVC. Besides, the development is self-sufficient as it offers schools, mosques, pools, medical facilities, banks, playgrounds, recreational centres, gyms etc and also has walkways, cycling trails and lush-green open spaces.
The village setting offers a perfect ambience to unwind with family and friends after a long day at work. Primarily offering villas and apartments on sale as well as rent, JVC has more than 2,000 villas and townhouses and numerous other buildings which are self-contained communities with parks, play areas, sports field and schools. It offers apartments with spacious layouts that range from studio to four bedroom spaces.
Proximity to the Jumeirah Lake Towers, Dubai Marina and Jebel Ali as well as existing infrastructure and upcoming developments make JVC a popular choice in the off-plan sales market in Dubai.
Much like Azizi Riviera in Meydon One, the average sales price for a 2 bedroom apartment in JVC is AED 1,459,577, for a 1 bedroom apartment is AED 823,098 and for a studio space is AED 622,354. JVC is considered lucrative in terms of rental returns on buy-to-let apartments. While the return on investment for apartments in JVC ranges between six-seven per cent, it goes as high as nine per cent for select studio spaces.