Dubailand emerges as top location for new tenants
Dubai Marina and Downtown however see sizeable numbers moving out
Landlords in Dubai Marina and Downtown don’t seem to have much room to manoeuvre when it comes to negotiating with tenants. These high-rise clusters top the list of freehold communities where residents have moved out, according to a survey by a portal.
“Dubai Marina/JBR and Downtown witnessed more moving-out activity compared to moving-in activity, and as a result lost a significant number of residents in 2017,” states ServiceMarket.com, which based its findings on the residential moving requests placed through it. “On the other hand, Dubailand experienced more moving-in activity.”
With more of its communities getting completed, Dubailand emerged as the most popular area during 2017, based of these findings. Dubai Marina, which was in pole position for the previous two years, drops to second place.
“While Dubai Marina is densely populated and more developed, Dubailand offers more affordable rents,” ServiceMarket.com adds. “These two areas are followed by Downtown, Dubai Silicon Oasis, and JVC/JVT (Jumeirah Village).
“The most likely explanation for why suburbs like Dubailand and Dubai Silicon Oasis are overtaking developed areas in popularity is that residents have to face lower rents, there’s less traffic and facilities like malls, schools, and theme parks are quickly emerging.”
According to the portal, more than 58 per cent of residents moving in happened within 10 areas of Dubai.
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