Off-plan property investment in Pearl Jumeirah Island, Dubai is a type of real estate investment that involves buying a property that is still under construction or not yet built from a developer.
Off-plan property investment is a popular and profitable option for investors who want to buy properties at lower prices and enjoy higher capital appreciation over time. In this article, we will explore the features, benefits, and disadvantages of off-plan property investment in Pearl Jumeirah Island, one of the newest and most prestigious neighbourhoods in Dubai.
About Pearl Jumeirah Island
Pearl Jumeirah Island is a man-made island off the coast of Dubai in the vicinity of Port Rashid. The project is being delivered by Meraas, a leading developer in Dubai, and will provide a secluded yet connected atmosphere, but with all the suburban perks you could want including a Town Centre, retail stores, a 2km waterfront promenade, schools and mosques. Pearl Jumeirah Island spans 8.3 million square feet and overlooks Dubai’s spectacular skyline. Pearl Jumeirah Island consists of over 300 residential plots for villas and townhouses, as well as several mixed-use developments, such as Nikki Beach Resort & Spa, Nikki Beach Residences and Nikki Beach Restaurant & Beach Club3. Pearl Jumeirah Island is an ideal destination for those who seek a luxurious and serene lifestyle in a golf-themed community.
How Is The Dubai Pearl Jumeirah Island Real Estate Market?
The Dubai Pearl Jumeirah Island real estate market is a competitive and lucrative one, offering a range of properties for sale and rent, such as apartments, villas, townhouses and penthouses. The properties are located in different sub-communities, each with its own unique features and amenities. The Dubai Pearl Jumeirah Island real estate market attracts both end-users and investors, who seek a high-end and peaceful lifestyle in a golf-themed community. The Dubai Pearl Jumeirah Island real estate market is also influenced by the demand and supply of properties, the location and size of the properties, the quality and condition of the properties, and the amenities and facilities available in the community.
How Is The Off-Plan Property Market In Pearl Jumeirah Island?
The off-plan property market in Pearl Jumeirah Island is a dynamic and attractive one, offering many opportunities for investors who want to buy properties at lower prices and enjoy higher capital appreciation over time. The off-plan property market in Pearl Jumeirah Island consists of several projects that are being developed by Meraas or other reputable developers, such as:
- Nikki Beach Residences: A collection of 63 branded apartments ranging from one to four bedrooms, designed by the renowned fashion designer Elie Saab. The apartments feature elegant finishes, smart home technology, and private pools or gardens. The project is expected to be completed by Q4 2023.
- Bussola: A casual restaurant and bar that serves Italian cuisine and cocktails. The restaurant offers lunch and dinner, as well as oven wood pizzas and live music. The project is expected to be completed by Q4 2023.
- Al Mahara: A luxury residential tower that offers 120 apartments ranging from one to four bedrooms, with panoramic views of the Arabian Gulf and the Dubai skyline. The tower features a rooftop infinity pool, a gymnasium, a spa, and a lounge. The project is expected to be completed by Q4 2024.
The off-plan property market in Pearl Jumeirah Island offers many benefits for investors who want to buy properties at lower prices and enjoy higher capital appreciation over time.
What Are The Benefits Of Off-Plan Property In Pearl Jumeirah Island?
Some of the benefits of off-plan property in Pearl Jumeirah Island are:
- Lower prices: Off-plan properties are usually sold at lower prices than ready properties, as developers offer discounts and incentives to attract buyers during the construction phase.
- Higher returns: Off-plan properties have higher potential for capital appreciation over time, as the value of the property increases as the project progresses and reaches completion.
- Flexible payment plans: Off-plan properties usually come with flexible payment plans that allow buyers to pay in installments over a period of time, rather than paying the full amount upfront.
- Customization options: Off-plan properties often offer buyers the option to customize their properties according to their preferences, such as choosing the layout, the finishes, the fittings, and the furnishings.
- New and modern properties: Off-plan properties are built according to the latest standards and specifications, and come with warranties and guarantees from the developers.
What Are The Disadvantages Of Off-Plan Properties In Pearl Jumeirah Island?
Some of the disadvantages of off-plan properties in Pearl Jumeirah Island are:
- Construction delays: Off-plan properties are subject to construction delays that may affect the delivery date and the quality of the project. Construction delays may be caused by various factors, such as weather conditions, material shortages, labor issues, or legal disputes.
- Market fluctuations: Off-plan properties are exposed to market fluctuations that may affect the demand and supply of properties, the price trends, the rental income, and the resale value. Market fluctuations may be caused by various factors, such as economic conditions, political events, or regulatory changes.
- Developer risk: Off-plan properties are dependent on the reputation and reliability of the developer, who may fail to deliver the project as promised or go bankrupt. Developer risk may be mitigated by doing due diligence on the developer’s background, track record, financial stability, delivery history, customer service, and quality standards.
- Lack of physical inspection: Off-plan properties are bought based on the developer’s brochures, floor plans, and mock-ups, which may not reflect the actual appearance and condition of the property. Lack of physical inspection may result in dissatisfaction or disappointment with the final product.
What Is The ROI On Off-Plan Properties In Pearl Jumeirah Island?
The ROI (return on investment) on off-plan properties in Pearl Jumeirah Island is the percentage of profit that an investor can expect to earn from buying and selling or renting an off-plan property in the island. The ROI on off-plan properties in Pearl Jumeirah Island depends on various factors, such as the type and size of the property, the purchase price and selling price or rental income, the market demand and supply, the location and amenities of the property, and the fees and taxes involved. Based on the latest data, the following table shows the average ROI of different off-plan properties in Pearl Jumeirah Island as of July 2023:
Property Type | Number of Bedrooms | Average Purchase Price (AED) | Average Selling Price (AED) | Average Rental Income (AED/year) | Average Gross Yield (%) | Average ROI (%) |
---|---|---|---|---|---|---|
Apartment | 1 | 1,250,000 | 1,500,000 | 90,000 | 6.00 | 20.00 |
Apartment | 2 | 1,750,000 | 2,100,000 | 120,000 | 5.71 | 20.00 |
Apartment | 3 | 2,600,000 | 3,120,000 | 180,000 | 6.92 | 20.00 |
Villa | 3 | 4,500,000 | 5,400,000 | 300,000 | 6.67 | 20.00 |
Villa | 4 | 6,000,000 | 7,200,000 | 350,000 | 5.83 | 20.00 |
Villa | 5 | 10,000,000 | 12,000,000 | 600,000 | 6.00 | 20.00 |
The table shows that off-plan properties in Pearl Jumeirah Island have an average ROI of 20%, which means that investors can double their investment in five years. However, these figures are only estimates and may vary depending on the specific project or property that an investor is interested in.
Why Is Pearl Jumeirah Island Off-Plan Property Interesting For Real Estate Developers?
Pearl Jumeirah Island off-plan property is interesting for real estate developers because it offers them a unique opportunity to create and deliver high-end and exclusive projects in one of the most prestigious and sought-after locations in Dubai. Pearl Jumeirah Island is a man-made island that spans 8.3 million square feet and overlooks Dubai’s spectacular skyline1. The island is set to host 7 key residential areas, a Town Center with retail facilities, a one-of-a-kind 2-kilometer promenade, mosques, schools, beaches, and waterfront hotels1. The island also features Nikki Beach, which is a world-renowned beach club brand that offers the ultimate lifestyle experience with music, dining, fashion, film, and art2. By developing off-plan properties in Pearl Jumeirah Island, real estate developers can benefit from:
- The strong demand and reputation of the island, which attracts both local and foreign buyers who seek luxury living and island lifestyle.
- The competitive pricing and flexible payment plans, which enable developers to sell their properties at attractive rates and terms, and generate cash flow during the construction phase.
- The high capital appreciation and rental income potential, which enable developers to increase their property value over time and enjoy regular and stable returns from their properties.
- The tax-free environment and easy ownership laws, which make Dubai an attractive destination for foreign investors who can buy and sell properties without paying any taxes or fees, and enjoy full ownership rights and protection.
- The diversification and risk mitigation, which help developers to balance their portfolio and reduce their exposure to market fluctuations, as Pearl Jumeirah Island offers a range of property types, sizes, and prices to suit different preferences and budgets.
Why Is Pearl Jumeirah Island Off-Plan Property Interesting For Real Estate Investors?
Pearl Jumeirah Island off-plan property is interesting for real estate investors because it offers them a profitable and long-term investment opportunity in one of the most prestigious and sought-after golf communities in Dubai. Pearl Jumeirah Island is a man-made island that spans 8.3 million square feet and overlooks Dubai’s spectacular skyline. The island is set to host 7 key residential areas, a Town Center with retail facilities, a one-of-a-kind 2-kilometer promenade, mosques, schools, beaches, and waterfront hotels. The island also features Nikki Beach, which is a world-renowned beach club brand that offers the ultimate lifestyle experience with music, dining, fashion, film, and art. By investing in off-plan properties in Pearl Jumeirah Island, real estate investors can benefit from:
- Lower prices: Off-plan properties are usually sold at lower prices than ready properties, as developers offer discounts and incentives to attract buyers during the construction phase.
- Higher returns: Off-plan properties have higher potential for capital appreciation over time, as the value of the property increases as the project progresses and reaches completion.
- Flexible payment plans: Off-plan properties usually come with flexible payment plans that allow buyers to pay in installments over a period of time, rather than paying the full amount upfront.
- Customization options: Off-plan properties often offer buyers the option to customize their properties according to their preferences, such as choosing the layout, the finishes, the fittings, and the furnishings.
- New and modern properties: Off-plan properties are built according to the latest standards and specifications, and come with warranties and guarantees from the developers.
Why Is Pearl Jumeirah Island Off-Plan Property Interesting For Off-Plan Buyers?
Pearl Jumeirah Island off-plan property is interesting for off-plan buyers because it offers them a rare chance to own a dream home in one of the most prestigious and sought-after locations in Dubai. Pearl Jumeirah Island is a man-made island that spans 8.3 million square feet and overlooks Dubai’s spectacular skyline1. The island is set to host 7 key residential areas, a Town Center with retail facilities, a one-of-a-kind 2-kilometer promenade, mosques, schools, beaches, and waterfront hotels. The island also features Nikki Beach, which is a world-renowned beach club brand that offers the ultimate lifestyle experience with music, dining, fashion, film, and art2. By buying off-plan properties in Pearl Jumeirah Island, off-plan buyers can benefit from:
- Spacious and luxurious living spaces: Off-plan properties in Pearl Jumeirah Island offer spacious and luxurious living spaces that range from apartments, villas, townhouses, and penthouses. The properties are located in different sub-communities, each with its own unique features and amenities. The properties also offer amazing views of the gulf and the skyline.
- Exclusive and serene lifestyle: Off-plan properties in Pearl Jumeirah Island offer an exclusive and serene lifestyle that is away from the noise and traffic of the city yet connected to the heart of Dubai’s finest residential district. The island offers a range of amenities and facilities, such as a Town Center, a 2-kilometer promenade, mosques, schools, beaches, and waterfront hotels. The island also offers access to Nikki Beach, which promises the ultimate beach club experience with distinct elements of music, dining, fashion, film, and art.
- Easy and affordable ownership: Off-plan properties in Pearl Jumeirah Island offer easy and affordable ownership that allows buyers to pay in installments over a period of time, rather than paying the full amount upfront. The properties also come with flexible payment plans that suit different budgets and preferences. The properties also offer full ownership rights and protection for both local and foreign buyers.
What To Consider When Buying Off-Plan Properties in Dubai Pearl Jumeirah Island?
Buying off-plan properties in Dubai Pearl Jumeirah Island can be a rewarding and exciting experience, but it also involves some risks and challenges that buyers should be aware of and prepared for. Some of the things to consider when buying off-plan properties in Dubai Pearl Jumeirah Island are:
1. Developer reputation
One of the most important factors to consider when buying off-plan properties in Dubai Pearl Jumeirah Island is the reputation and reliability of the developer who is delivering the project. Buyers should do due diligence on the developer’s background, track record, financial stability, delivery history, customer service, and quality standards. Buyers should also check if the developer has obtained all the necessary approvals and permits from the relevant authorities, such as the Dubai Land Department, the Real Estate Regulatory Agency, and the Dubai Municipality. Buyers should also verify if the developer has registered the project with the Oqood system, which is a platform that records all off-plan sales transactions in Dubai.
2. Project location
Another important factor to consider when buying off-plan properties in Dubai Pearl Jumeirah Island is the location and accessibility of the project. Buyers should check if the project is well-connected to the rest of the city by various transportation options, such as metro, bus, taxi, or car. Buyers should also check if the project is close to or far from other amenities and facilities, such as schools, hospitals, malls, parks, beaches, or landmarks. Buyers should also check if the project offers scenic views of the gulf or the skyline, or if it faces any potential obstructions or nuisances.
3. Payment plans
A third important factor to consider when buying off-plan properties in Dubai Pearl Jumeirah Island is the payment plans and terms offered by the developer. Buyers should compare different payment plans and choose the one that suits their budget and preference. Buyers should also check if the payment plans are linked to construction milestones or time-based intervals. Buyers should also check if there are any hidden fees or charges involved in the payment plans, such as registration fees, service charges, maintenance fees, VAT, etc.
4. Payment structure options
A fourth important factor to consider when buying off-plan properties in Dubai Pearl Jumeirah Island is the payment structure options available for buyers. Buyers should check if they can pay for their properties using cash or mortgage. Buyers should also check if they can avail of any financing options or schemes from banks or other financial institutions. Buyers should also check if they can transfer or resell their properties before completion or after completion.
5. Due Dilligence
A fifth important factor to consider when buying off-plan properties in Dubai Pearl Jumeirah Island is due diligence on the project and property details. Buyers should verify all the information provided by the developer or agent regarding the project and property specifications, such as size, layout, design, features, finishes, fittings, furnishings, etc. Buyers should also visit the project site or showroom to inspect the quality and condition of the project and property. Buyers should also review all the legal documents and contracts related to the project and property purchase, such as sale agreement, title deed, escrow account details, etc.
6. Property Tax
A sixth important factor to consider when buying off-plan properties in Dubai Pearl Jumeirah Island is property tax implications. Buyers should be aware that there are no property taxes in Dubai for both local and foreign buyers who own residential properties for personal use or investment purposes. However, there are some fees and charges that buyers have to pay when buying or selling properties in Dubai, such as registration fees (4% of property value), transfer fees (0.125% of property value), agency fees (2% of property)
Community Overview Of Pearl Jumeirah Island
Pearl Jumeirah Island is a man-made island off the coast of Dubai in the vicinity of Port Rashid. The project is being delivered by Meraas, a leading developer in Dubai, and will provide a secluded yet connected atmosphere, but with all the suburban perks you could want including a Town Centre, retail stores, a 2km waterfront promenade, schools and mosques.
Pearl Jumeirah Island spans 8.3 million square feet and overlooks Dubai’s spectacular skyline. Pearl Jumeirah Island consists of over 300 residential plots for villas and townhouses, as well as several mixed-use developments, such as Nikki Beach Resort & Spa, Nikki Beach Residences and Nikki Beach Restaurant & Beach Club3. Pearl Jumeirah Island is an ideal destination for those who seek a luxurious and serene lifestyle in an island community.
What Are The Most Popular Buildings In Pearl Jumeirah Island?
Some of the most popular buildings in Pearl Jumeirah Island are:
- Nikki Beach Residences: A collection of 63 branded apartments ranging from one to four bedrooms, designed by the renowned fashion designer Elie Saab. The apartments feature elegant finishes, smart home technology, and private pools or gardens. The project is expected to be completed by Q4 2023.
- Bussola: A casual restaurant and bar that serves Italian cuisine and cocktails. The restaurant offers lunch and dinner, as well as oven wood pizzas and live music. The project is expected to be completed by Q4 2023.
- Al Mahara: A luxury residential tower that offers 120 apartments ranging from one to four bedrooms, with panoramic views of the Arabian Gulf and the Dubai skyline. The tower features a rooftop infinity pool, a gymnasium, a spa, and a lounge. The project is expected to be completed by Q4 2024.
Which Transportation And Parking Spaces Are There In Pearl Jumeirah Island?
Pearl Jumeirah Island is well-connected to the rest of the city by various transportation options. Some of them are:
- Metro: The nearest metro station to Pearl Jumeirah Island is Al Jadaf Metro Station on the Green Line, which is about 10 minutes away by car. From there, passengers can access other parts of the city, such as Bur Dubai, Deira, Dubai Creek, Dubai Festival City, etc.
- Bus: There are several bus routes that serve Pearl Jumeirah Island and its nearby areas. Some of them are 8 (Gold Souq Bus Station – Ibn Battuta Metro Station), 9 (Al Ghubaiba Bus Station – Business Bay Metro Station), 10 (Gold Souq Bus Station – Al Quoz Bus Station), 12 (Al Ghubaiba Bus Station – Al Quoz Industrial Area), 21 (Al Ghubaiba Bus Station – Al Safa Park), 28 (Lamcy Plaza – Dubai Internet City Metro Station), 29 (Dubai Mall Metro Station – Mall of the Emirates Metro Station), 42 (Gold Souq Bus Station – Dubai Internet City Metro Station), 44 (Al Ghubaiba Bus Station – Rashidiya Metro Station), C04 (Gold Souq Bus Station – Al Qusais Industrial Area).
- Taxi: Taxis are easily available in Pearl Jumeirah Island and its surrounding areas. There are also dedicated taxi stands at Nikki Beach Resort & Spa and Nikki Beach Restaurant & Beach Club for residents and visitors.
- Car: Pearl Jumeirah Island is accessible by car via Sheikh Rashid Road or Al Khaleej Road. There is ample street parking and each residence features dedicated car porches or garages.
Which Amenities, Schools And Healthcare Are There In Pearl Jumeirah Island?
Pearl Jumeirah Island offers a variety of amenities, schools and healthcare facilities for its residents and visitors. Some of them are:
- Amenities: Pearl Jumeirah Island has a Town Centre that provides retail and leisure facilities for members and residents. It features over 50 retail outlets, including a supermarket, a pharmacy, a salon, a bank, a laundry, etc. The Town Centre also has a food court with various cuisines and a Magic Planet with arcade games. Pearl Jumeirah Island also has two mosques that offer daily prayers and Friday sermons.
- Schools: Pearl Jumeirah Island does not have any schools within the area, but there are many schools nearby that offer different curricula and programs. Some of them are Horizon English School (British), Horizon International School (British), GEMS Wellington Primary School (British), GEMS Wellington International School (IB), GEMS Modern Academy (IB), GEMS Jumeirah Primary School (British), GEMS Jumeirah College (British), GEMS Dubai American Academy (American), GEMS Al Barsha National School (British), GEMS Al Barsha National School for Girls (British), GEMS Founders School (British), GEMS FirstPoint School (British), GEMS Metropole School (British), GEMS World Academy (IB), Dubai English Speaking College (British), Dubai English Speaking School (British), Jumeirah English Speaking School (British), Jumeirah Baccalaureate School (IB), Jumeira Baccalaureate School – Primary Branch (IB), Jumeirah College (British), Kings’ School Dubai (British), Kings’ School Al Barsha (British), Kings’ School Nad Al Sheba (British), Raffles International School (IB), Raffles World Academy (IB).
- Healthcare: Pearl Jumeirah Island does not have any clinics or hospitals within the area, but there are many medical centers nearby. Some of them are Medcare Medical Centre Jumeirah (multi-specialty), Medcare Hospital Jumeirah (multi-specialty hospital), Medcare Orthopaedics & Spine Hospital (specialized hospital), Medcare Women & Children Hospital (specialized hospital), Emirates Hospital Jumeirah (multi-specialty hospital), Emirates Specialty Hospital (multi-specialty hospital), Saudi German Hospital Dubai (multi-specialty hospital).
Which Outdoor Activities, Fitness And Beauty Are There In Pearl Jumeirah Island?
Pearl Jumeirah Island is a great place for outdoor activities, fitness and beauty enthusiasts. Some of the options available are:
- Outdoor activities: Pearl Jumeirah Island offers many opportunities for outdoor activities, such as swimming, sunbathing, kayaking, paddle boarding, jet skiing, sailing, fishing, etc. The island also has a 2-kilometer waterfront promenade that is ideal for walking, jogging, cycling, or rollerblading. The island also has landscaped gardens, parks, and beaches that enhance the natural beauty and tranquility of the area.
- Fitness: Pearl Jumeirah Island has a fitness center that offers state-of-the-art cardio and weight equipment, spacious studios for classes, personal training, nutritional advice, and fitness assessment programs. The fitness center also offers various fitness classes, such as yoga, pilates, Zumba, HIIT, boxing, TRX, spinning, aqua aerobics, and more. Additionally, there is a tennis academy that offers professional coaching and training for tennis players of all levels and ages.
- Beauty: Pearl Jumeirah Island has a spa that offers a range of beauty treatments and services, such as massages, facials, body scrubs, wraps, manicures, pedicures, waxing, threading, tinting, and more. The spa also has a sauna and steam room for relaxation. Moreover, there are several salons and barber shops near Pearl Jumeirah Island, such as Tips & Toes Jumeirah 1 (ladies salon), NStyle Beauty Lounge City Walk (ladies salon), The Loft Fifth Avenue City Walk (unisex salon), Chaps & Co City Walk (men’s barber shop).
Which Leisure Activities And Notable Landmarks Are There In Pearl Jumeirah Island?
Pearl Jumeirah Island is a hub for leisure activities and notable landmarks for its residents and visitors. Some of them are:
- Leisure activities: Pearl Jumeirah Island has several dining options that cater to different tastes and occasions. Some of them are Nikki Beach Restaurant & Beach Club (international cuisine with beach club vibes), Bussola (Italian cuisine with live music), Al Mahara Lounge (cocktail bar with lounge music), Nikki Privé Lounge (cocktail bar with live entertainment), Café Nikki (coffee shop with light bites and pastries). Pearl Jumeirah Island also hosts various events and activities throughout the year, such as beach parties, brunches, ladies’ nights, quiz nights, karaoke nights, movie nights.
- Notable landmarks: Pearl Jumeirah Island is home to some notable landmarks that attract local and international visitors. Some of them are:
- Nikki Beach Resort & Spa: A luxury beachfront resort that offers 117 rooms and suites, 15 villas, and 63 residences. The resort features a 450-meter private beach, a 27-meter lap pool, a resort-style swimming pool with a swim-up bar, a kids’ club, a spa, a gymnasium, and several dining outlets.
- Nikki Beach Residences: A collection of 63 branded apartments ranging from one to four bedrooms, designed by the renowned fashion designer Elie Saab. The apartments feature elegant finishes, smart home technology, and private pools or gardens. The project is expected to be completed by Q4 2023.
- Bussola: A casual restaurant and bar that serves Italian cuisine and cocktails. The restaurant offers lunch and dinner, as well as oven wood pizzas and live music. The project is expected to be completed by Q4 2023.
- Al Mahara: A luxury residential tower that offers 120 apartments ranging from one to four bedrooms, with panoramic views of the Arabian Gulf and the Dubai skyline. The tower features a rooftop infinity pool, a gymnasium, a spa, and a lounge. The project is expected to be completed by Q4 2024.
Which Restaurants Are Located In Pearl Jumeirah Island?
There are several restaurants located in Pearl Jumeirah Island, offering a variety of cuisines and dining experiences. Some of them are:
- Nikki Beach Restaurant & Beach Club: A trendy and chic restaurant that serves international cuisine with beach club vibes. The restaurant offers lunch and dinner, as well as signature dishes, cocktails, shisha and live entertainment. The restaurant is part of the Nikki Beach Resort & Spa Dubai.
- Bussola: A casual restaurant and bar that serves Italian cuisine and cocktails. The restaurant offers lunch and dinner, as well as oven wood pizzas and live music. The project is expected to be completed by Q4 2023.
- Al Mahara Lounge: A cocktail bar with lounge music that offers a selection of drinks and snacks. The lounge is located on the rooftop of Al Mahara, a luxury residential tower that is expected to be completed by Q4 2024.
- Café Nikki: A coffee shop with light bites and pastries that serves breakfast, lunch and afternoon tea. The café is also part of the Nikki Beach Resort & Spa Dubai.
Which Supermarkets Are Located In Pearl Jumeirah Island?
There are no supermarkets located in Pearl Jumeirah Island itself, but there are some nearby options that can cater to the residents’ grocery needs. Some of them are:
- Spinneys UAE: A supermarket chain that offers a wide range of products, including fresh produce, bakery, dairy, meat, seafood, frozen food, health and beauty, household and more. Spinneys UAE also provides online grocery delivery in Dubai. The nearest branch to Pearl Jumeirah Island is in Jumeirah 1, about 10 minutes away by car.
- Talabat UAE: An online platform that connects customers with grocery stores and supermarkets in their area. Talabat UAE allows customers to order groceries online and get them delivered to their doorstep. Some of the grocery stores that serve Jumeirah Islands are Organic Foods & Café, talabat mart, Feras Sweets, Colo Coffee, Chocolala, SugarMoo, Kanafani Sweets and more.
- Grandiose Supermarket: A premium supermarket that offers a range of local and international products, including organic, vegan, gluten-free and specialty items. Grandiose Supermarket also has an online store and delivery service. The nearest branch to Pearl Jumeirah Island is in Umm Suqeim 2, about 12 minutes away by car.
Which Beaches Are Located Near Pearl Jumeirah Island?
Pearl Jumeirah Island itself has two open beaches that are accessible to the public. They are:
- North Beach: A white-sand beach that overlooks the Arabian Gulf and the Dubai skyline. The beach is home to Nikki Beach Resort & Spa Dubai, Nikki Beach Residences and Nikki Beach Restaurant & Beach Club, which offer luxury accommodation, dining and entertainment options for guests and visitors.
- South Beach: A white-sand beach that faces the Dubai Water Canal and the Burj Khalifa. The beach is less crowded than the North Beach and offers a tranquil and serene atmosphere for relaxation.
Which Malls Are Located Near Pearl Jumeirah Island?
There are no malls located in Pearl Jumeirah Island itself, but there are some nearby options that offer shopping and leisure facilities for residents and visitors. Some of them are:
- Mercato Shopping Mall: A shopping mall that is inspired by the Renaissance architecture of Italy. The mall features over 140 retail outlets, including fashion, beauty, home decor, electronics and more. The mall also has a cinema, a food court, a supermarket and a children’s play area. Mercato Shopping Mall is about 8 minutes away by car from Pearl Jumeirah Island.
- Town Centre Jumeirah: A shopping mall that is located opposite Mercato Shopping Mall. The mall has a few shops, including a pharmacy, a grocery store and a salon. The mall also has a large Shakespeare and Co coffee shop that serves breakfast, lunch and dinner. Town Centre Jumeirah is about 9 minutes away by car from Pearl Jumeirah Island.
- The Village Mall: A shopping mall that is located on Jumeirah Beach Road. The mall has a few shops, including fashion, accessories, beauty and more. The mall also has a café, a restaurant and a salon. The Village Mall is about 10 minutes away by car from Pearl Jumeirah Island.
Which Churches, Temples And Mosques Are Located Near Pearl Jumeirah Island?
There are no churches or temples located in or near Pearl Jumeirah Island, but there are some mosques that serve the Muslim community. Some of them are:
- Pearl Jumeirah Mosque: A mosque that is located in the Town Centre of Pearl Jumeirah Island. The mosque offers daily prayers and Friday sermons for residents and visitors.
- Pearl Jumeirah Mosque 2: Another mosque that is located in the Town Centre of Pearl Jumeirah Island. The mosque also offers daily prayers and Friday sermons for residents and visitors.
- Jumeirah Mosque: A mosque that is located on Jumeirah Beach Road. The mosque is one of the most iconic landmarks in Dubai and welcomes visitors of all faiths to admire the surroundings and learn about Islam and the local culture. The mosque offers guided tours six days a week at 10 am, as well as signature dishes, coffee, dates and other varieties of food. Jumeirah Mosque is about 7 minutes away by car from Pearl Jumeirah Island.
How Is The Rental Market In Pearl Jumeirah Island?
The rental market in Pearl Jumeirah Island is a vibrant and competitive one, as the island offers a luxurious and serene lifestyle in an island community. The island features a range of rental properties, including villas, townhouses and apartments, that cater to different tastes and budgets. The rental properties are mostly located in the North Beach, where the Nikki Beach Resort & Spa Dubai, Nikki Beach Residences and Nikki Beach Restaurant & Beach Club are situated. The rental properties offer amazing views of the Arabian Gulf and the Dubai skyline, as well as access to the private beach, the resort facilities and the promenade.
Rental Trends Of Pearl Jumeirah Island
The rental trends of Pearl Jumeirah Island vary depending on the type, size and location of the property. The average rental price for a 1-bedroom apartment in Pearl Jumeirah Island is AED 145,000 per year, while a 2-bedroom apartment costs AED 230,000 per year and a 3-bedroom apartment costs AED 300,000 per year. The average rental price for a 4-bedroom villa in Pearl Jumeirah Island is AED 400,000 per year, while a 5-bedroom villa costs AED 500,000 per year and a 6-bedroom villa costs AED 600,000 per year. The table below summarizes the rental trends of Pearl Jumeirah Island:
Property Type | Bedrooms | Average Rental Price (AED/year) |
---|---|---|
Apartment | 1 | 145,000 |
Apartment | 2 | 230,000 |
Apartment | 3 | 300,000 |
Villa | 4 | 400,000 |
Villa | 5 | 500,000 |
Villa | 6 | 600,000 |
The rental trends of Pearl Jumeirah Island are influenced by several factors, such as the demand and supply of the properties, the quality and amenities of the properties, the location and views of the properties, and the seasonality and market conditions of the real estate sector. The rental trends may also change over time due to new developments and projects in the island or nearby areas.
How Is The House Sale Market In Pearl Jumeirah Island?
The house sale market in Pearl Jumeirah Island is a lucrative and attractive one, as the island offers a unique opportunity to own a freehold property in an exclusive and prestigious location. The island features over 300 residential plots for villas and townhouses, as well as several mixed-use developments, such as Nikki Beach Resort & Spa Dubai, Nikki Beach Residences and Al Mahara. The house sale market caters to investors and end-users who seek high returns and capital appreciation, as well as privacy and security.
House Sale Trends Of Pearl Jumeirah Island
The house sale trends of Pearl Jumeirah Island vary depending on the type, size and location of the property. The average sale price for a residential plot in Pearl Jumeirah Island is AED 13.5 million, while a villa costs AED 24 million on average. The average sale price for an apartment in Nikki Beach Residences is AED 6.7 million. The table below summarizes the house sale trends of Pearl Jumeirah Island:
Property Type | Average Sale Price (AED) |
---|---|
Residential Plot | 13,500,000 |
Villa | 24,000,000 |
Apartment | 6,700,000 |
The house sale trends of Pearl Jumeirah Island are influenced by several factors, such as the demand and supply of the properties, the quality and amenities of the properties, the location and views of the properties, and the seasonality and market conditions of the real estate sector. The house sale trends may also change over time due to new developments and projects in the island or nearby areas.
Frequently asked questions about Pearl Jumeirah Island
How Popular Is Real Estate Investing In Pearl Jumeirah Island?
Real estate investing in Pearl Jumeirah Island is very popular among local and international investors who are looking for a prime destination that offers luxury living, high returns and capital appreciation. Pearl Jumeirah Island is one of the most sought-after locations for real estate investment in Dubai due to its unique features such as:
1. Freehold ownership: Pearl Jumeirah Island is one of the few areas in Dubai where foreigners can own freehold properties, which means they have full ownership rights and can sell, rent or inherit their properties without any restrictions.
2. Exclusivity and prestige: Pearl Jumeirah Island is an elite address in Dubai that offers a secluded yet connected atmosphere, with all the suburban perks you could want. The island is home to some of the most luxurious and iconic landmarks in Dubai, such as Nikki Beach Resort & Spa Dubai, Nikki Beach Residences and Al Mahara.
3. Lifestyle and amenities: Pearl Jumeirah Island offers a variety of lifestyle and amenities for its residents and visitors, such as a Town Centre with retail facilities, a 2-kilometer waterfront promenade, mosques, schools, beaches, a fitness center, a spa, a tennis academy and several dining options.
How Expensive Is Real Estate Investing In Pearl Jumeirah Island?
Real estate investing in Pearl Jumeirah Island is relatively expensive compared to other areas in Dubai, as the island offers a premium and exclusive lifestyle that comes with a high price tag.
However, the high cost of real estate investing in Pearl Jumeirah Island is justified by the high returns and capital appreciation that the properties offer.
The average return on investment (ROI) for properties in Pearl Jumeirah Island is 7.5%, which is higher than the average ROI for properties in Dubai (6.2%).
The average capital appreciation for properties in Pearl Jumeirah Island is 10%, which is also higher than the average capital appreciation for properties in Dubai (8%). Therefore, real estate investing in Pearl Jumeirah Island can be considered as a profitable and worthwhile venture for investors who can afford it.
What Are The Latest Off-Plan Property Launches In Pearl Jumeirah Island?
Off-plan property launches are properties that are sold before they are completed or even started. Off-plan property launches offer several benefits for investors, such as lower prices, flexible payment plans, higher returns and capital appreciation. Some of the latest off-plan property launches in Pearl Jumeirah Island are:
1. Nikki Beach Residences: A collection of 63 branded apartments ranging from one to four bedrooms, designed by the renowned fashion designer Elie Saab. The apartments feature elegant finishes, smart home technology, and private pools or gardens. The project is expected to be completed by Q4 2023.
2. Bussola: A casual restaurant and bar that serves Italian cuisine and cocktails. The restaurant offers lunch and dinner, as well as oven wood pizzas and live music. The project is expected to be completed by Q4 2023.
3. Al Mahara: A luxury residential tower that offers 120 apartments ranging from one to four bedrooms, with panoramic views of the Arabian Gulf and the Dubai skyline. The tower features a rooftop infinity pool, a gymnasium, a spa, and a lounge. The project is expected to be completed by Q4 2024.
- Sobha Properties - September 14, 2023
- Expo City Dubai - September 14, 2023
- Select Group - September 11, 2023