Properties for Sale in Dubai Canal

Dubai Canal is a waterway that starts from Business Bay under the Sheikh Zayed Road, and flows between Al Wasl and Jumeirah 2 which connects them both to the Dubai Creek and the Arabian Gulf. The project was implemented by the Meydan Sobha Group and Meraas, and was launched back in 2013.

The opening of Dubai Canal took place at the end of 2016 and following Dubai Creek, it turned this part of Dubai into a large island.

Dubai Canal is a popular holiday destination and one of the newer landmarks in Dubai. Along the canal there is a beautiful embankment with a well-thought-out infrastructure. What makes it iconic, is a waterfall-shaped fountain that falls directly from the Sheikh Zayed Road and is illuminated in various colours at night. The futuristic pedestrian Tolerance Bridge connects the north bank with Al Safa Park, while the Water Canal Footbridge joins the canal to the bay, right next to Al Wasl Road.

Along the Dubai Canal are low-rise building areas with villas and residential complexes, as well as small apartments. The area is actively being developed and many land plots are being offered to both citizens and foreign nationals. The close proximity to the sea and its good transport accessibility to the business districts of Dubai like Business Bay, Downtown Dubai and DIFC make real estate in the Dubai Canal area very attractive for investors.

Dubai Canal itself has a well-developed transport infrastructure, as there are several ferry stops on its shores (routes DC1, DC2). One can get from the southern coast of the canal by car via one of the bridges over Al Wasl Road or Jumeirah Beach Road.

Business Bay MRT Station is a 5-minute ride from the Water Canal Sheikh Zayed Ferry Station on the North Shore. One can walk to the station in about 20 minutes from either end of the canal.

The No. 15 bus runs across the bridge on Al Wasl Street, which will take you from Al Wasl Road BoxPark 2 on the North Shore to Al Safa Metro Station in about 20 minutes. The same distance takes less than 10 minutes when travelling by car. There are also several bus routes that go through Jumeirah Street.

Since the development of coastal areas is mostly low-rise, parking is allocated to residents with private parking garages or spaces outside their property. However, there are plenty of public parking spaces along the canal as well.

Since the Dubai Canal is fairly long, the exact travel time to certain sites and attractions in the city depends on whether it is closer to Business Bay and the Sheikh Zayed Road, or to the coast and Jumeirah Street.

From Business Bay, one can get to attractions based in Downtown Dubai in less than 10 minutes’ by car and can reach Jumeirah Beach in about 10-15 minutes. Downtown Dubai can also be reached in 10-15 minutes’ by car from the areas along the coast.

On average, when driving from the areas surrounding Dubai Canal, it takes approximately:

• 20 minutes’ to Dubai International Airport
• 20 minutes’ to Palm Jumeirah
• 40 minutes’ to Al Maktoum International Airport

Both residents and visitors can enjoy their free time on the Dubai Canal embankment, as there are walking and running paths, a bicycle lane, a playground, and lots of greenery. At night, the embankment and bridges are beautifully lit and can be seen from miles away. It is also possible to charge your phone at the designated charging points as well as access the internet whilst on your walk.

From the areas along the Dubai Canal, it is easy to get to the beaches by a foot ferry. Even if you are in the Sheikh Zayed Road area, you can reach one of the beaches by car in 10 minutes’ at most. The closest beach to the canal on the southern bank is the public beach of Jumeirah Beach, and on the northern side is Sunrise Beach. In the surrounding area of ​​the beaches one can find yacht clubs, diving clubs, areas for outdoor sports games and playgrounds.

There is a large green area surrounding Dubai Canal in the form of Safa Park, which is a great place for relaxing walks and to entertain the children. Tennis courts can also be found there for sports enthusiasts.

One can drive to Downtown Dubai (it will take 10 to 20 minutes’ by car, depending on how close you are to the coast) and look at the mesmerizing Burj Khalifa and the Dubai Fountains, as well as visit the largest shopping mall in the world, The Dubai Mall.

If one wants to explore the history of the UAE, the Jumeirah Archaeological Site, which is also a museum, is located in Al Wasl. The Boxpark and City Walk areas along Al Wasl Road offer not only a great shopping experience, but also small art galleries, play areas, an indoor rainforest, restaurants and cafes and cinemas. It is a perfect place to relax with the whole family.

The areas surrounding the Dubai Canal are considered expensive, yet comfortable and quiet, with shops and establishments essential for living closeby and easy access to beaches and the business districts such as DIFC, Business Bay and Downtown Dubai. This also determines the nature of the construction, as there are no high-rise buildings. There are mostly expensive villas in the districts, as well as apartment complexes with residences comprising at least three bedrooms, which are aimed at those who prefer a bigger space and a comfortable living.

It is worth purchasing residential property here if you are not constrained financially and want to own a luxury home in the city center. The cost of villas here start from AED 5M (USD 1.3M).

On the other hand, renting a villa or apartment might be more attainable, as rentals for both are in high demand.

The yield on a rental for villas is lower; if we consider a long-term rental, then the ROI will be no higher than 4%. However renting out an apartment is more profitable, as the yield on renting a one-bedroom apartment can reach 6%. The difficulty lies in actually finding an apartment for sale in the Jumeirah areas near Dubai Canal, as property for sale in this area are very few and far between. This is due to the main complexes of Dar Wasl and La Plage only having rentals available.

Perhaps the most reliable option for investing in elite real estate is to acquire a land plot and implement a project based on one’s personal preferences for the construction of a villa. However, such a purchase requires a significant amount of money, since the plot alone will cost at least AED 3.7M (USD 1M). Therefore, individuals rarely engage in such investments.

If one still wants to consider purchasing real estate, then it might be better to in the surrounding areas of the canal. Larger residential complexes are worth considering, such as Aykon City or Al Habtoor City in Business Bay or City Walk on Al Wasl Road (all areas are about a 10 minute drive from the canal). There are budget-friendly apartments from 322 sq. ft available for the starting price of AED 550K (USD 150K). Given their convenient location, this can be quite a profitable investment.

Furthermore, one should keep in mind that the areas around Dubai Canal can also attract wealthy tourists who want to visit the beach and explore the city’s landmarks as well, which means both villas and apartments can be rented out on a daily basis. The residential complexes of Garden Villas and The Terraces in Jumeirah 2 are quite popular from this point of view.

Areas surrounding the Dubai Canal which include Al Wasl, Jumeirah 2 and Jumeirah 3 and Al Safa, are mostly built up with private villas. This is a fairly expensive residential property option, as all of them will have quality finishings and spacious layouts, designed for comfortable family-friendly living. The number of bedrooms in these villas within the above mentioned areas usually varies from three to five. The villas are used both for living and for rentals. Residents enjoy all the benefits of private parking, landscaped private gardens, the opportunity to live close to the sea and at the same time be close to the city center, as well as close proximity to important institutions (schools, hospitals) and the availability of recreational facilities. Currently, there are a wide range of villas on offer in Jumeirah 2 Villas. In some communities like Dar Wasl there are villas and apartments in low-rise, hotel-type buildings.

Situated practically on the southern coast by the Dubai Canal near Jumeirah Beach is the apartment complex of La Plage from AJD Real Estate, which sits on the corner of Jumeirah Beach Road and Al Athar Street. These are several low-rise buildings within a secured area, equipped with all the necessary residential amenities. There are also still land plots available, most of them based in Al Wasl.

Several property complexes in the Business Bay area on the other side of Sheikh Zayed Road, such as Akoya and Habtoor City, are also within walking distance of the Dubai Canal. These high-rise towers offer both apartments and penthouses.