Julie Smythe moved to Dubai from London 13 years ago to pursue her career in the media. "I had friends living and working here, who were doing very well in the media and advertising sectors," she explains. "I joined Dubai TV as a news presenter shortly after my arrival and also did work for radio and television." Julie met her husband, the CEO of Filmworks Production Company, in Dubai, and after the couple had two daughters (now four and five), they decided to think about buying a property in Dubai which would accommodate their needs.

Three years ago they moved to their new home in Dubai, a two-storey detached property in the Green Community development, close to Jebel Ali, for 1.7 million dirhams (£236,400); it is now valued at 4.7 million dirhams (£653,500). The property has four bedrooms, all en-suite, plus two additional bathrooms. Downstairs is comprised of a large sitting room, dining room and kitchen/breakfast room. There is also an extensive amount of storage space. "The finishing is excellent," says Julie, "We have stone floors, large balcony and terrace areas. The garden is fairly big and surrounds the house. There are also staff quarters outside the main property."
  
Julie explains why this house met their needs as follows: "We ended up buying this particular property because it was built and ready to move into, which was unusual at the time in Dubai as most developers sold off-plan. We also considered this development to be a great place for young children. The Green Community is made up of a whole range of property, including apartments, townhouses and villas set in beautiful parklands, with a massive lake surrounded by restaurants, terraced apartments, a shopping complex and a Marriott Hotel. Recreational facilities include six swimming pools and gyms, tennis and squash courts and a children's play park. There are two schools in the immediate area. My children attend JESS at the Arabian Ranches development, which is a ten-minute drive. We are a half-hour drive from Dubai International Airport and about the same to the centre of the city."

Julie considers Dubai to be a great place if you are considering buying property. She comments: "We got into the property market in Dubai early and have made a considerable profit on this particular house. Since then, we have been buying other properties in Dubai for investment purposes and have achieved excellent profits on them all. Obviously, because we live here in Dubai, it made sense to buy as rental costs are high. A lot of property in Dubai, especially apartments, is being sold to non-resident buyers and being used as holiday homes. Many of these owners successfully rent out their property. Dubai is a cosmopolitan and dynamic city, the property market is massive with various developments popping up constantly. I feel our particular home would probably be too large for a holiday let, however, apartments are doing very well in the tourism sector."

Tourism and international investment is being greatly encouraged by Sheikh Mohammed bin Rashid Al Maktoum of Dubai, the city is currently littered with cranes building shopping complexes, leisure centres and hotels. Without a doubt, the area is booming and could still be ripe as a place for those thinking about bying as an investment.

If you are thinking of buying property in Dubai, it is best to take a trip and see what is available. Julie gives some advice about the buying process: "Many people buy off plan. Upcoming developments are advertised all over the place. Just go to the particular site office and there is usually a model of the property and development, etcetera. The developer will probably require a 10 per cent deposit to secure a particular property. Mortgages are available from the many reputable banks in the country, banks lend 90 per cent of the loan amount, interest rates are fair and loans are normally taken over a 15-year period."

Dubai property:
One of the most exciting and highly publicised property developments in Dubai is "The World." You have probably already heard of the mand-made islands in the Gulf of Arabia that are constructed in the shape of all the coutries in the world. High-class resorts are to be constructed on the larger Islands and one such already planned is Jasmine Garden on the island of Thailand.

Jasmine Garden, with a budget of $US 110 million, will consist of luxurious four bedroom beach villas, stilted water villas, bright loft suites and studio suites. The Thai theme will be maintained throughout the resort: traditional Thai materials such as teak decking and polished stone floors used in the properties, which will be based around a 2,000 meter square spa.

131 properties are being built, starting price is £327,000. Dream Homes  

Another ambitious property venture worth consideration is the Dubai Sports City. The complex is to be the "world's first fully integrated sports themed city." This essentially means that property will be surrounded by some of the best sporting facilities in the world, including academies such as Manchester United's first football school outside of Europe, an Ernie Els designed golf course, the ICC HQ (International Cricket Council), and a David Lloyd tennis academy.

Canal Residence West is to be one of the residential property developments incorporated into the 50 million square foot city. The five buildings will contain studio, one, two and three bedroom penthouse apartments. Private facilities and perks of the residency are the waterside promenade, health club, beauty salons, elevated swimming pools and sundecks, children's play areas, communal gardens and barbeque areas and 24 hour security and concierge services. Prices start at: £55,000 for a studio apartment.
Dubai Sports City        

Kensington and Mayfair is an English inspired development encompassed within the eight million square metre International City district on Emirates Road. The fully-furnished properties are all studios and one bedrooms, most of them come with private balconies. Priced from a reasonable £52,000, the properties are already pre-rented for the first three years at a rate of 8 per cent per annum net, guaranteed.
Dream Homes    

Ocean Heights is an 82-storey one, two and three-bedroom luxury condominium block located by Dubai Marina, in the town centre. The development features a sauna and swimming pool and landscaped grounds. The condos are available with sea views and private balconies. The close proximity to all amenities, including the airport, is a major selling point for the properties, as well as the fitted kitchens and bathrooms and luxury finishes. Prices start at £193,000 for one-bedroomcondos.
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Dubai: The land full of Eastern promise
Don't overlook deserts such as Dubai

Article published on 16 April 2007