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Jumeirah freehold land and villas now available to Expats


 By Veronika Goncharova   Tue  26-07-2022


There has always been demand from expats to buy plots and villas in Jumeirah, the seaside views and proximity to downtown Dubai make it a pristine location. But until recently foreign ownership was strictly prohibited. The Al Wasl Land complex by MERAAS is now available for foreigners, with a total of 140 plots with full freehold and zoning permits to build residential units. This limited supply is likely to lead to strong demand. Located besides Sheikh Zayed Road, Business Bay, DIFC, City Walk, Box Park, the area is also centrally linked.

27 of these plots have sold in the past 6 months compared to 7 in 2021. Perhaps greater visibility and media coverage lead to this 400% increase in sales. As an investor keep in mind, that villas in Jumeirah Bay are nearing AED5000/sqft. In the past 6 months, La Mer properties rose from AED1350/sqft to AED2000/sqft for sea-facing beach access, AED900/spft to AED1400/sqft for non sea-facing. The average land price in the Al Wasl Land complex is AED 1,000 per sq ft.

Jumeirah has been a key region in Dubai, highly sought after and it’s unlikely that the value will ever dwindle. It is a positive sign that the UAE is opening this area up to foreign owners as a general trend the government has made it easier and easier for foreign investors to come into the country. The municipality has put up better infrastructure and legislation to protect property rights and is substantially becoming more globalized


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