7 Things You Didn't Know About Madinat Jumeirah Living
Madinat Jumeirah Living, a project from renowned developer Dubai Holding, is a residential complex of mid-rise and high-rise apartment towers clustered around a central courtyard and located next to one of Dubai’s iconic landmarks – Burj Al Arab. Since it was first announced in 2018, the project has proven to be hugely successful with demand from both investors and end-users, and new towers are still being released – most notably Al Jazi and Jadeel in the first half of 2022.
Here are 7 things you should know about Madinat Jumeirah Living and why it could be the ideal choice for you.
First Freehold Community on Jumeirah Beach Road
Running alongside Dubai’s coastline and cutting through the Jumeirah district – one of Dubai’s original luxury neighbourhoods – Jumeirah Beach Road is best known for its beachfront resorts, alongside quaint villas and low-rise apartment blocks. It is very popular due to the presence of landmarks such as the Burj Al Arab, several distinct beaches such as Kite Beach, Sunset Beach and La Mer, as well as the presence of award-winning restaurants that offer haute cuisine with incredible views.
This is a district that has traditionally been leasehold, whereby only GCC nationals can purchase property here. Madinat Jumeirah Living is the very first freehold development in this area, which gives all expats and investors the opportunity to buy apartments and have full ownership of them.
Highly Reputed Developer
Dubai Holding has been reshaping Dubai’s hospitality and leisure landscape as since 1997, when it was just known as a holding company operated by the Dubai government. Jumeirah Beach Hotel, known for its distinctive wave-like design, was the first project to be completed and it heralded the beginning of Dubai’s five-star luxury journey as the first hotel under the Jumeirah Group. This was swiftly followed by the Burj Al Arab in 1999 and Wild Wadi, one of the city’s most beloved waterparks, as well as key communities such as Dubai Internet City and Dubai Media City.
In 2004, the Dubai Holding brand was formally established and it was the same year that saw the unveiling of Madinat Jumeirah, a vast resort complex made up of four distinct hotels – Al Qasr, Al Naseem, Mina A’Salam and Dar Al Masyaf .
Adjacent to Souk Madinat
Another major component of the Madinat Jumeirah complex is Souk Madinat, a shopping centre that models itself after traditional Arabian street markets. The design of the Souk pays homage to traditional architecture with its sandy hues and wind towers (which are also a key element of the design in Madinat Jumeirah Living). Shops, stalls and kiosks are scattered about, set along arched walkways that harken back to the city’s old bustling streets. Souk Madinat is also a dining haven, containing an array of award-winning restaurants and bars, with a range of cuisines including Mediterranean, Arabic, Indian and East Asian. The Souk is set alongside a charming canal, providing a beautiful al fresco setting for meals with a view of the Burj Al Arab. Visitors can also enjoy gondola rides on the canal.
The Jumeirah district is one of Dubai’s most popular coastal destinations. Its main thoroughfare is the aptly named Jumeirah Beach Road, and those who live in the district are only a few minutes’ drive from some of the best beachfront attractions in the city. Madinat Jumeirah has its own private beach that stretches across 2 kilometres, and it is in proximity to Sunset Beach, Kite Beach and La Mer, a grand beachfront leisure destination that has its own shops and restaurants, as well as a Roxy Cinema and Laguna WaterPark.
If you love the combination of sun, sand and sea, you will get plenty of it all at Madinat Jumeirah.
Fully Pedestrianized Community
Madinat Jumeirah Living is designed to provide a respite from city life. The entire complex is set around an interconnected series of courtyards with tree-lined pathways and landscaped gardens. The complex is completely pedestrianized, ensuring that residents can enjoy peace and fresh air with no vehicles in sight. It is the ideal place to enjoy an evening stroll or jog, some quality time with the family, or a relaxed day out with friends.
High Rental Yields and Low Service Charges
One of the reasons that Madinat Jumeirah Living has proven to be immensely popular with investors is the rental yield that it offers, which is among the very highest in Dubai. As of 2022, the community offers a roughly 10% yield, which is significantly higher than other prime areas of the city such as Downtown Dubai and Palm Jumeirah. This is a one-of-a-kind development in an area of the city that has not had any freehold properties before, and the potential for growth is immense.
For both investors and end users, the low service charge is another huge plus, at a mere AED 15 per sq ft. With high-quality finishes, excellent ROI for investors and a low cost of upkeep, the community is expected to remain an investment haven for the medium term.
Close to Two Popular Shopping Malls
Residents of Madinat Jumeirah have immediate access to a full range of amenities, including the Souk Madinat, several beaches and some of the finest restaurants in Dubai. But in addition to that, the community is at most 10 minutes away from two of the biggest shopping destinations in the city – Mall of the Emirates and Dubai Hills Mall. Both malls contain high-end retail options, a diverse culinary offering, and unique entertainment venues. Mall of the Emirates is home to the incredible Ski Dubai, currently the longest indoor ski slope in the world. Dubai Hills Mall, meanwhile, houses the world’s largest indoor roller coaster.