Why You Must Invest In Dubai’s Al Furjan
For residential real estate buyers in Dubai looking for budget-friendly options, the gated community of Al Furjan offers a range of spacious apartments, townhouses and villas. Spread across 560 hectares, the first phase of the project has already been completed and occupied. Current developments and under-construction units consist of fully-serviced apartments. The first phase of development was taken care of by Azizi Developments and handover was done in the third and fourth quarter of 2016 and the entire process was completed in the first quarter of 2017.
Masakin Al Furjan, the residential apartments are built around a landscaped community and include mid-rise buildings with 335 apartments. It can be a good investment opportunity as the units are priced reasonably and competitively. Offering modern comforts, the spaces are designed in a functional way. The customised styling as per the homeowner’s taste lends a unique appeal to the home.
Easily accessible from Sheikh Zayed Road and Al Yalayis Road, Al Furjan is in close proximity to popular destinations like Discovery Gardens and Ibn Batutta Mall. It is merely 20 minutes away from the site of Dubai Expo 2020. The closest metro station is 5.59 kilometres away.
Al Furjan is close to various schools and hospitals and offers community retail centres, landscaped gardens, mosque and outdoor sports facilities. It is a self-sufficient community offering all amenities that can be a big boost for first-time buyers and investors looking for a well-built and well-equipped place.
Nakheel, the master developer, responsible for projects in Dubai across hospitality, retail and residential sectors has been the brain behind Al Furjan. Nakheel has previously developed popular projects and prominent destinations like Palm Jumeirah, Deira Lands, Discovery Gardens, International City and Dragon City, among others.
In Al Furjan, for off-plan fully furnished two bedrooms, the average sales price is Dh 1.30 million which is a bit less than off-plan non-furnished two-bedroom apartments in Jumeirah Village Circle selling at Dh 1.32 million. Quite similarly, as compared to Jumeirah Park, the villas are priced at a relatively lower price in Al Furjan. As per industry reports, the average sales price of a townhouse or villa in Jumeirah Park was Dh 3.13 million in comparison to Dh 4.6 million. The lower price units are attracting a lot of buyers which is a positive sign for the community.
In the run up to Dubai Expo 2020 and under 2020 Route Project, infrastructure is being developed with a focus on redesigning of metro stations. The extension of the Red Line is expected to draw more commuters from Al Furjan. Further, the new interchange between Sheikh Mohammad Bin Zayed Road and Al Yalayis Road is expected to ease traffic bottlenecks to Al Furjan and Jebel Ali.
Reportedly, there are 3,950 units scheduled to be completed in 2018. The increased supply, as estimated by various real estate monitoring indices can have an immediate and greater impact on the sale prices and rental rates of units in the community.