Developed in 2014, Dubai Hills Estate is a mixed-use development. Meraas Holding and Emaar Properties, two holding corporations, have partnered on this project. This is the first official phase of construction in the Mohammed Bin Rashid City (MBR City) area, which is an actual “city within a city,” due to the scale of the project. The neighborhood has already succeeded in establishing itself as an independent complex, with a limited number of magnificent villas and townhouses of various configurations, housing estates with apartments of the highest class, as well as land plots for new housing development. Foreigners have the option to buy villa in Dubai Hills or an apartment with full ownership and a reliable rental income. Properties for sale off-plan in Dubai as well as completed properties are available here. It now remains to sort out the community advantages and return on investment (ROI).
Over 100,000 people are expected to live there in more than 30 blocks, with a total development area of more than 11 million m2. The majority of the territory is made up of huge, well-kept parks and gardens, open zones, and a 54-km bicycle track. The project, which covers an area the size of 200 football fields, includes a commercial center, hotels and hotel flats, townhouses, mid-and low-rise buildings, and residential lots. No other community in the region can match its size.
A large housing estate separated into three zones, Dubai Hills Estate is described in the Master Plan as follows:
- The middle area is surrounded by 397 villas which are parts of the Parkways & Fairways community.
- The northern part features two shopping malls and mid-rise housing complexes built around a 7-km street with restaurants and stores.
- The third zone has a higher building density in the Maple and Sidra communities of villas and townhouses. Sidra is similarly divided into three phases, with 170 villas in the first phase, 160 in the second, and roughly 145 in the third.
Economic Appeal of Real Estate in Dubai Hills
Due to its proximity to the city and the numerous amenities available, Dubai Hills Estate is very well-known among investors, families, and young couples. As a result, Dubai Hills Estate’s sales trends have gotten stronger over the previous few years. There is a wide selection of villas available for anyone looking for houses in a more secluded environment. There are only a few luxurious unfinished villas with plot sizes ranging from 2,322 m2 to 2,787 m2 in the enclaves of Dubai Hills Grove and Dubai Hills Views. Property owners are able to customize the interiors and finishes according to their preferences.
The district is still under construction. The completion date is scheduled for 2022. Regarding this, purchasers continue to have the option to invest in off-plan projects in Dubai with more lucrative payment plans from the developer. People who wish to acquire ready-made real estate may experience temporary discomfort as a result of construction activity, as well as a lack of infrastructure and amenities.
Prices of Property for Sale in Dubai Hills
Housing prices in Dubai Hills depend on the type of housing, its area, and the individual parameters of each separate unit. This explains the wide difference in pricing; depending on the location, the price of housing can range between AED 800,000 and AED 1,000,000 to several tens of millions. In the neighborhood, three-bedroom houses start at a reasonable price of AED 1,900,000. A four-bedroom villa in this gated neighborhood will cost investors a minimum of AED 2,000,000. Five-bedroom villas can be purchased for anywhere between AED 2,500,000 and AED 21,000,000.
Six-bedroom floor plans are more common in larger and more impressive homes. These villas for sale in Dubai in Dubai Hills can be purchased for between AED 9,400,000 and AED 35,000,000. Even bigger unfinished houses are available for purchase, starting at AED 19,500,000 and going up to AED 95,000,000. On the Emirates.Estate website, you may find a list of the properties with the highest yields.
Return on Property in Dubai in the Dubai Hills Community
The profitability index of housing units varies from 5 to 7% in the community. Apartments for sale in Dubai in the studio format or with one or two bedrooms can bring the highest profit. Spacious villas have a lower ROI but higher rents. It is important to note that there are no restrictions on the length of the tourist season in the UAE, and housing is in high demand all year. This allows you to receive a stable income. Numerous real estate agencies offer after-sales service for flats in Dubai. For a commission, they take control over the maintenance of the residential unit and then assist with finding tenants, which completely frees the homeowner from the need to reside in the UAE. Since there are no personal income taxes in the country, homeowners receive their entire income, which increases the profitability of their investments.