For those interested in buying an apartment in Dubai Marina, the average cost for a studio is AED 600,000 (USD 164,000), while the price for a one-bedroom apartment starts at AED 950,000 (USD 259,000). The prices of villas vary from AED 2,200,000 to AED 15,000,000 (USD 599,000 to USD 4,084,000).
Some of the most popular projects for buying property in Dubai Marina are Escan Marina Tower and Mag 218 Tower.
Escan Marina Tower is one of the finest modern buildings in the area. The building comprises 32 storeys with a total of 397 residential units, which include studios and apartments with one to three bedrooms, and a four level underground parking. Property prices here start from AED 550,000 (USD 150,000).
Mag 218 Tower is a 66-store tower featuring 555 non-proprietary residential units that include 2-3-bedroom apartments. The tower houses several retail outlets, seven floors of parking spaces, a health club, a public event hall, and easy access to public transport. The price of property in Mag 218 Tower starts from AED 1,000,000 (USD 273,000).
*The price is valid for 2024
Dubai Marina is a carefully planned community located in the southwest part of the city and developed by Emaar Properties. The famous real estate development company has transformed the coastline of the Arabian Gulf into an extremely popular modern district of 52,743,161 sq. ft. Property in Dubai Marina includes hotels and more than 200 residential buildings, such as 23 Marina Tower, which is 88 storeys high, the 84-storeyed Ocean Heights Tower and Princess Tower, the world’s second tallest building with 101 storeys of residential properties.
Dubai Marina is one of the most fast-developing and prestigious areas in Dubai, which is considered to be both a residential and a holiday resort destination. The distinctive feature of Dubai Marina is its large canal, which is more than 11,482 ft long, with access to the sea from both ends. There are numerous restaurants and cafes along the waterfront, as well as walking, cycling and jogging areas. The community also features its own marina and houses the Dubai Marina Mall, a shopping center with over 130 stores, a 6-screen Reel Cinemas, a variety of hotels, and entertainment venues.
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Metropolitan Premium Properties
The average annual rental cost for studios in Dubai Marina is AED 42,500 (USD 11,600), and for one-bedroom apartments this increases to AED 60,000 (USD 16,300). Those looking for more spacious accommodation may consider renting a two-bedroom apartment, in which costs an average of AED 90,000 per year (USD 24,000). For villas in the Dubai Marina area, there are 2 to 6 bedroom homes ranging from 2,443 sq. ft to 9,590 sq. ft, located at the podium level of the apartment buildings. Rental prices vary from AED 120,000 to AED 420,000 (USD 33,000 to USD 115,000) per year.
For example, one can rent a fully-furnished and ready-to-move-in studio in Marina Diamond 5 for AED 48,000 (USD 13,000) per year. The rental price for one-bedroom apartments at Marina Gate 2 ranges from AED 75,000 (USD 21,000) to AED 90,000 (USD 25,000) per year. If you are interested in more spacious real estate options, a two-level penthouse with four bedrooms and a total area of 3,573 sq. ft in Marina View can be rented for AED 150,000 (USD 41 000) per year. All buildings are in close proximity to the metro stations, tram stops, as well as beaches and shops.
*The price is valid for 2024
One of the biggest advantages of living in Dubai Marina is its convenient location, as it has easy access to Al Sufouh Rd and the Sheikh Zayed Rd, which connects all seven emirates. Dubai Marina is also in close proximity to Jumeirah Lakes Towers, Dubai Media City, Barsha Heights, JBR, Palm Jumeirah, Dubai Internet City and Umm Suqeim, which are all located 10-15 minutes’ away by car.
On the other hand, Dubai Marina lacks education institutions within its immediate vicinity. However, there are several schools nearby, in the neighbouring areas of Al Sufouh, Umm Suqeim, Al Barsha and The Springs. Most of the schools are located within a 15 minute drive and offer Indian, British and American curricula. At the same time, parents with young children will be happy to know that there are many kindergartens within walking distance both inside and outside Dubai Marina.
The comfort of living in Dubai Marina lies in the ease of movement by car or public transport. In most cases, buying or renting real estate in Dubai provides residents with parking spaces. If there is no private parking, one can always use the public parking services. Most of the car parks feature one-hour of parking free of charge.
There are two metro stations (red line) that are close to the community, Dubai Marina (formerly DAMAC Metro Station) and DMCC, which provide easy access to any part of the city. There are also many bus stops and a tram line that run between hotels, Dubai Marina Mall, The Beach at JBR and interlinks with the nearby metro station. The tram makes it easy to get to the Palm Jumeirah Station and then hop on the monorail to visit the Aquaventure Waterpark and The Lost Chambers Aquarium at the Atlantis, The Palm.
The route to Dubai International Airport and Al Maktoum International Airport will take approximately 30 minutes’ by car from any development or attraction in Dubai Marina.
Pier 7 which is a 7-storeyed complex of some of the best restaurants in the world, is a 5-minute walk from Dubai Marina Yacht Club and is right next to Dubai Marina Mall. There are also several branches of the ZOOM Convenience Stores, a Waitrose, Spinneys and West Zone Fresh Supermarkets throughout the area.
In terms of healthcare, Dubai Marina is a 5-10 minute walk from Medcare Medical Center (JBR) and the Emirates Hospitals Clinic. In case of emergency, it is best to visit the Al Zahra Hospital which is located close to the Al Barsha sub-community.
The 22,965-feet-long Dubai Marina Walk offers residents an excellent outdoor area for long walks, jogging or cycling. A large number of gyms, health clubs, spas, shops and restaurants are concentrated around the marina, while recreation areas provide open space for relaxation and exercise. There are also several social events that are held here throughout the year, including ones for children, and open-air handicraft markets are held here during the winter.
Furthermore, The Beach at JBR and Marina Beach offer a wide range of entertainment for any age. For example, visitors can take part in water sports, parasailing, banana boating and wakeboarding, or even rent a boat or a yacht, or go on a ferry excursion.
It is worth noting that in 2017, XLine, the longest urban zipline in the world, was opened in Dubai Marina. It is an incredible ride for thrill seekers which starts from the launch pad, located at the top of Amwaj Towers, at an altitude of 557 ft, and ends on the other side of the canal, on the roof of Dubai Marina Mall. The attraction is open daily and all year round, and is designed for extreme sports enthusiasts, since the speed of the flight over the water reaches almost 50 miles per hour.
According to the latest Dubai property market reports, Dubai Marina continues to be one of the most popular places to buy and rent property in Dubai. Thanks to the variety of low-cost and luxury real estate, buyers and tenants have the opportunity to choose the most suitable type of the property in the area, including studios, apartments, penthouses, podium villas or even entire buildings.
The highest annual income is offered by studios and one-bedroom apartments at 6.4% and 6.2% respectively. This is followed by two- and three-bedroom apartments with a return on investment of 5.7% and 5.3% respectively. For more spacious 4-5-bedroom apartments the annual income can be up to 4.5%.
It is worth noting that many buyers prefer to invest in small properties, such as studios, one-bedroom apartments or hotel apartments in Dubai Marina. This type of real estate is considered to be the most profitable if you are planning to purchase a property for further leasing, especially since Dubai Marina is located a 30 minute drive from the World Expo 2020 exhibition site.
When considering the purchase of villas or townhouses, the return on investment is exactly the opposite of studios and apartments: the more rooms, the higher the income. Thus, a house with five bedrooms tops the list in terms of profitability of 5.2% per annum, four-bedroom units yield 4.2%, while two and three-bedroom units generate 3.2% and 4.1% respectively.
N.B. According to the DLD, as of February 2021, there are more than 95,000 housing units under construction throughout Dubai, of which 5,781 are in Dubai Marina. Moreover, the community is ranked third in the top five areas for buying off-plan real estate, and also took first place for ready property.
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