Properties for Sale in

DIFC

Properties for Sale in DIFC

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About DIFC

DIFC (Dubai International Financial Center) is the largest business district in the region of the Middle East, Africa and South Asia. It is a special economic zone, where a large number of issues, including the ones related to the rules for transactions, real estate and labor relations, are regulated by specific standards, and a special governing body and judicial authorities operate there. Moreover, in DIFC, favorable environment has been created for taxpayers and business development, and ownership of real estate by foreign companies is allowed. The conditions for renting offices and retail space at DIFC are among the best ones in Dubai. Therefore, the offices of multiple large corporations and banks are located there.

Geographically, DIFC covers the area of 11 840 301 sq. ft along Sheikh Zayed Road. The district is adjacent to Downtown Dubai and is divided into three zones – commercial, residential and retail. The area is full of offices, residential properties, restaurants, art galleries, cafes and shops. It is perfect for those who are ready to live and work in the rhythm of the urban city. This district attracts qualified trade and finance professionals worldwide, as well as international business corporations and investors.

Developers in DIFC

Infrastructure of DIFC

The DIFC area is located between Downtown Dubai (from the southwest), Za’abeel (from the east) and Al Satwa (from the west). The Sheikh Zayed Road is located along the western border of the district, very close to a large transport interchange, which makes it possible to exit the highway both towards the bridge over Dubai Creek and the city exit through Ras Al Khor, as well as to exit towards Al Wasl Road and the seaside areas of Dubai.

One of the peculiarities of DIFC with its dense development and settlement is traffic jams – to get out from the area, it is better to plan a route taking into account rush hours (the beginning and end of the workday, the time of public events). Also, visitors of DIFC may have difficulties when finding parking, despite the fact that it is not free of charge (from AED 10, USD 2.7 per hour), so it makes sense to order a taxi, Uber or the local analogue Careem.

The inconvenience of heavy traffic is compensated by the fact that public transport system is well-developed in the area. There are two metro stations – Financial Center and Emirates Towers (red metro line) and lots of bus stops:  the buses No. 27 and 28 run through the area (both can take you to The Dubai Mall, and bus No. 27 – to the Gold Souk in Deira).

Main landmarks and directions:

  • Burj Khalifa and the Dubai Fountain can be reached within 40 minutes or walking or it can take around 8 minutes by car;
  • Dubai International Airport can be reached within 15 minutes by car or 30 minutes by metro;
  • Business Bay can be reached within 10 minutes by car or 15 minutes by metro;
  • The coastal Dubai Marina and Palm Jumeirah can be reached within 20 minutes by car.

Stores, Shopping Centers, Cafes and Restaurants

There are many grocery and home goods stores in DIFC – they can be found almost in any large complex, including stores of such chains as Spinneys, BS Supermarket LLC, Choithrams, Fresh Mart, Al Maya and others. For instance, Spinneys, Choithrams and Al Maya can be found in Central Park Tower, Burj Daman and Park Towers.

In the large shopping center Gate Avenue, there are not only a lot of boutiques offering fashionable clothes, watches and luxury goods (for example, Sacoor Brothers, Suit Supply, Black Amber, His and Hers, Fiori Jewels, Collars and Cuffs), but also handicraft displays and art gallery.

The Dubai Mall is located in the neighboring area of ​​Downtown Dubai and can be reached within 10 minutes by car.

Restaurants and cafes are also plentiful in the DIFC streets and can be found in each of its multiple buildings. ShanghaiMe and La Cantine du Faubourg are popular for the outdoor tables.

One can also note La Petite Maison (French cuisine), Gaucho Dubai (steakhouse), Cipriani Dubai (Italian cuisine), Royal China (Chinese) and Zuma (Japanese). As for the bars, there are BOCA at Gate Village and Original Wings and Rings at Liberty House.

Preschool and Educational institutions

Kindergartens and daycare groups are organized in almost every residential complex. There is an excellent kindergarten in Downtown Dubai called Blossom Downtown Nursery, where the EYFS development methods are applied in teaching. Nearby in the Al Satwa area, within 10 minutes from the road, are GEMS Wellington Primary School and Salma Al Ansaria Elementary School.

Medical Institutions, Pharmacies

The closest medical center to DIFC is Zabeel Health Center (can be reached within 5 minutes by car). Also, there is a medical center National Screening Center-City Walk and a large Latifa Hospital about 15 minutes away (no traffic jams).

In the DIFC area, a branch of the well-known chain Life Pharmacy is to be found in the building of Up Tower.

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Entertainment in DIFC

Almost all DIFC residential complexes comprise gyms, swimming pools, beauty salons and spa centers. Among fitness centers, it is worth to mention such large chain centers as Fitness First, Barry’s Bootcamp, and among spa and beauty centers – Ritz-Carlton Spa, Mind & Sense Spa and Spa Cordon.

Living in DIFC, one can easily reach Downtown Dubai with its attractions such as Burj Khalifa and the Dubai Fountain.

One can get to the coast within 15 minutes by car and relax on the beach at Jumeirah Road. Besides, not far from the DIFC there is one of the main attractions of Dubai – the Dubai Frame, a massive gilded structure made in the shape of a photo frame with the adjacent infrastructure.

Economic Appeal of DIFC

Accommodation at DIFC is convenient for those who work in the center and prefer both home and office to be within walking distance, and also to have a possibility of going to a cafe or restaurant, as well as shopping or visiting the latest exhibitions after work. However, the range of options for outdoor recreation and family vacations in a peaceful atmosphere is not very wide.

The area is popular with qualified professionals working in numerous DIFC companies and banks, expats and migrants. DIFC is mostly populated with people who do not plan to acquire a large family and live in a quiet place, and at this stage devote a significant part of their time to building a career, thus they look for property near their place of work.

One can either buy affordable housing in this area for themself (later, if one prefers to change the area to a quieter one, the property can be sold or rented out), and can also rent inexpensive apartments in order not to spend excessive amount of money on rent and transport.

Therefore, the demand for buying and renting apartments, including affordable ones, is stable in DIFC, and their purchase can be considered as a profitable investment.

Prices for studios start at AED 700K (USD 190K), one-bedroom apartments – from AED 1M, two-bedroom units – from 1.5M AED, which is about USD 270K. The prices for apartments with three or more bedrooms start from AED 2.5M (USD 680K). Besides, all units usually are quite spacious, and the service quality in the residential complexes is very high.

The average rental price for a studio is AED 70K (USD 20K), but one can find a small studio for AED 40-50K (USD 10-13K). One- and two-bedroom apartments can be found in the price range of AED 60-140K (USD 16-38K), three-bedroom units – from AED 160K (USD 44K).

Studios and one-bedroom apartments have the highest ROI of about 6%.

Besides, in DIFC one can purchase or rent prestigious and luxury property, which may also be an excellent investment as the international companies based in DIFC may be interested in both renting and purchasing such property.

It is also worth noting that due to the DIFC being both a business center and a place with many shops and other places attractive for foreign visitors, daily rent in DIFC is also in demand both among tourists and those who are visiting Dubai for a business trip.

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Popular Property of DIFC

Almost all residential real estate projects in DIFC are located in multifunctional complexes, where there are offices and shops in addition to apartments. Among the most popular ones there are Park Towers, Sky Garden DIFC, Central Park Towers and Burj Daman. Residential real estate in DIFC consists of studios, apartments (1-4 bedrooms) and penthouses.

Park Towers by DAMAC Properties was built in 2011 and was recognized as the best mixed-use development in the world. It consists of two 49-storey high-rise buildings – Park Tower A and Park Tower B. The lower 7 floors are occupied by offices, and the residential area starts from the 12th floor. Here one can buy or rent studios or 1-3-bedroom apartments, as well as penthouses. The complex has a unique architecture – these are two identical towers, the smooth lines of which are created by a continuous canvas of high-tech panels ensuring the energy-saving features of the buildings.

Sky Garden DIFC is a project by Al Mazaya Holding, its construction was completed in 2008. It is a 40-storey building, 26 of its floors are given for residential units (there are 575 of them in total). The complex offers studios, 1-3-bedroom apartments and penthouses.

Central Park Towers by Dubai Properties Group and Deyaar Development, like Park Towers, consists of two similar towers. They offer studios and 1-3-bedroom apartments. The residence is located next to other complexes.

Burj Daman is a Perkins & Will project, completed in 2013. It is a mixed-use complex consisting of a residential 65-storey tower and a 15-storey building with commercial spaces. The building is also home to the Rosewood Dubai Hotel. The complex is distinguishable because there is a swimming pool on the roof. It is possible to buy or rent premium-class 1-3-bedroom apartments.

Central Park Towers was designed by Hopkins Architects Ltd. Dubai Properties Group and Deyaar Development took part in the construction of the complex. It was completed in 2014. The residence consists of two buildings – a 47-storey residential block and a 45-storey tower, where office spaces are located.

Property for Sale

Most of the property in DIFC is located in high-rise towers – multifunctional complexes, on the lower floors of which there are office and retail spaces, shops and restaurants, sports facilities, and the upper ones are often occupied by expensive penthouses.

Park Towers is considered the most famous and popular complex in terms of real estate acquisition. The Park Towers residents can use the complex’s underground parking. The building features an ultra-modern air conditioning and fire safety system, 24-hour security and video surveillance, as well as several high-speed elevators. The help desk and reception, as well as 24/7 concierge service. In Park Towers, one can rent a banquet hall and conference room for events, and also can visit the gym and the swimming pool.

Apartments are available both furnished and unfurnished, but a kitchen is equipped in any case. A parking space may or may not be included in the price; this issue should be discussed separately. Apartments with one to three bedroom feature a balcony.

There are small studios in Park Towers (from 409 sq. ft), but currently there are almost no offers for sale or rent. The area of one-bedroom apartments with one or two bathrooms varies from 602 to 1022 sq. ft. The prices start from AED 800K, USD 218K.

Two-bedroom apartments range in size from 893 to 2152 sq. ft and comprise three or four bathrooms. The area of ​​apartments with three bedrooms varies from 1797 to 3229 sq. ft. The residential units feature four or five bathrooms, a maid’s room, and organized storage space. It is also possible to purchase a full floor (about 96 875 sq. ft).

The Park Towers one-bedroom apartments of 1001 sq. ft with two bathrooms can be purchased for AED 1M, USD 270K.

Burj Daman is located on Al Mustaqbal Street, a 15-minute walk from Emirates Towers MRT Station. The complex has a 24/7 reception, service and security. Comfort in the building is provided by a modern centralized air-conditioning system.

The complex has an automated parking for 2360 vehicles. Moreover, the building offers dedicated venues for events and even a barbecue area. The conditions for recreation and sports are also provided, as there is a large gym, a squash court, indoor gardens, and on the roof of the building one can find a big swimming pool. There are all necessary amenities at the complex which include restaurants, coffee shops, a spa, a health club, a kindergarten and a mosque. This is one of the few pet-friendly residential buildings in DIFC.

Burj Daman apartments cannot be classified as a cheap segment as they are much more comfortable and spacious with high-quality interior fittings. All apartments have built-in wardrobes and balconies. The residential units for rent offer equipped kitchens with a full range of appliances.

The area of one-bedroom ​​apartments is from 882 to 1291 sq. ft, two-bedroom apartments – from 1593 to 1786 sq. ft, and three-bedroom apartments – from 2045 to 2152 sq. ft.

A one-bedroom apartment of 925 sq. ft with two bathrooms in Burj Daman can be purchased for AED 1.6M (USD 440K).

Property for Rent

The multifunctional complex Sky Gardens DIFC is a 40-storey building with underground parking. It is served by four high-speed elevators. Security is provided to the highest standards in the building; in addition to 24/7 video surveillance, all the visits to the whole complex by both residents and guests are recorded.

Due to its convenient location, low rental prices and high-quality service, this residence is one of the most popular properties for rental apartments.

In Sky Gardens DIFC everything is created for a proper relax and unwinding after a workday; there is a fitness club with a gym, a sauna and a jacuzzi, as well as a swimming pool. A beauty salon and a floating center have been opened too. There are gardens on several floors. Moreover, a play area and a kindergarten for children can be found there as well.

A professional concierge service is available 24/7 in order to serve the needs of both residents and guests. The complex has a modern ventilation and cooling system, meaning that one does not have to open windows in the room, and, as a matter of fact, there are no balconies in the apartments. However, in some cases there are indoor terraces. The apartments feature built-in wardrobes, equipped kitchens, and they are available both furnished and unfurnished.

The complex offers studios (ranging from 516 to 839 sq. ft), one-bedroom apartments with two bathrooms (785 – 1657 sq. ft), two-bedroom apartments with three or four bathrooms (1033 -1700 sq. ft) and three-bedroom apartments of 2109 sq. ft with four bathrooms.

Apartment prices start at AED 900K (USD 245K) for a studio. The minimum cost of penthouses (3767 sq. ft) is AED 4M. Penthouses can be rented for a minimum of AED 350K per year (approximately USD 95K).

The rental price for the furnished one-bedroom apartments of 904 sq. ft with two bathrooms amounts to AED 70K (USD 19K).

The complex of Central Park Tower provides all the necessary amenities and services – an 8-level parking lot with 3000 parking spaces meets the needs of both residents and guests of the complex. The building features a central air-conditioning system. The customer service, front desk, security service, and the visitor control system work 24 hours a day.

There is everything for a proper relax in the building: a barbecue area on the roof, a squash court, two swimming pools and playground. There are also jogging and cycling paths to be found around the building.

The residential tower offers studio apartments (742 – 904 sq. ft), one-bedroom apartments (1044 – 1280 sq. ft), two-bedroom ones (1603 – 2098 sq. ft) and three-bedroom ones (2023 – 2970 sq. ft), as well as penthouses from 6404 sq. ft. There are many types of different layouts in this complex, and the apartments are available with an equipped kitchen. Prices start at AED 700K for a studio and AED 1.3M for a one-bedroom apartment. The annual rental price of a studio is approximately AED 50-60K.

The rental cost of an unfurnished one- apartment of 1270 sq. ft with two bathrooms is AED 85K, USD 23K per year.

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