Apartment in Downtown Dubai with a residency permit
Apartments for sale in Downtown Dubai, UAE, are among the most sought-after properties in the Middle Eastern real estate market. The central district continues to be built up with residential complexes with unique architectural ideas, modern interior designs and a well-developed internal infrastructure, which includes various amenities such as swimming pools for adults and children, gyms, saunas, playgrounds, recreational areas with free Wi-Fi, 24-hour security and concierge service.
The basic information about this area is as follows:
- It is a multifunctional community located in the city centre;
- It has been built by the Emaar Properties investment company since 1998;
- It is home to some of the world’s most famous sights of interest such as the Burj Khalifa and the Dubai Mall;
- It has a developed infrastructure with all the necessary amenities for living and recreation;
- The range of local properties consists of studios, flats for sale in Downtown Dubai and penthouses.
The district is divided into two parts — Old Town and New Town. There are only 35 low-rise buildings in the classical Arabic style in the old part and modern skyscrapers in the new one. Studios and 1- to 4-bedroom flats in Downtown Dubai, which are located next to social facilities and popular entertainment venues, are in the greatest demand among buyers and tenants.
Residence permit in UAE by buying an apartment in Downtown Dubai
Foreign investors can participate in a special programme and get a residence permit in the UAE by buying an apartment in Downtown Dubai. The minimum cost of apartments in Downtown Dubai that meets its conditions is AED 750,000 ($205,000). Having invested this amount in local properties, a foreigner gets the right to issue a 2-year residence card. There is also the option of obtaining a 10-year permit for an investment of AED 2 million AED ($545,000).
The state's immigration programme is an excellent option for foreigners who want to move with their whole family members. It allows them to include their spouse and unmarried children (daughters of any age and sons under 25 years old) in the application. As long as the main applicant owns their property in the UAE, they can extend their resident status.
Investment apartment in Downtown Dubai
Foreign buyers choose apartments in Downtown Dubai for investment for the following reasons:
- Strategic location. The area is located in the heart of the city, so locals have access to key business centres and prestigious places to relax. An established transport system, including metro stations and numerous bus routes, allows them to quickly get to any part of the emirate.
- Plenty of opportunities for leisure and recreation. The central district is a successful tourist destination. You can find here some of the most famous sights, such as the world's tallest skyscraper, an underwater zoo and a futuristic opera house.
- Modern infrastructure. There are all socially significant facilities in the district and neighbouring communities, including kindergartens, schools, hospitals, pharmacies, supermarkets, public transport stops and parks. You can also find restaurants, bars and nightclubs for every taste in the city centre.
- A wide range of real estate. The local real estate market offers properties, including various apartments and flats for sale in Downtown Dubai, to buyers and tenants with a wide variety of goals, preferences and budgets. They can choose small studios and apartments with compact layouts and minimalistic interior designs, including luxurious penthouses with dressing rooms, servants' bedrooms, spacious terraces and private pools.
- An extensive expat community. Being one of the most popular destinations for immigration, the area attracts representatives of a wide range of nationalities and cultures. Foreigners move here to work, study, run a business, live and relax.
The above factors attract relocators who want to rent or buy an apartment in Downtown Dubai and get a residence permit. This contributes to a rapid increase in apartment prices in Downtown Dubai and rental rates. The average cost per square metre in the Dubai real estate market reached AED 16,318 ($4,443) in Q2 2024, which broke all records of the previous 10 years. Investors planning to profit from the resale in the long term, prefer to buy a flat in Downtown Dubai.
Owners of local properties can return their money and achieve consistently high profits with the help of a rental business. The average ROI in studios is 5.54% per annum. A 1-bedroom apartment for sale in Downtown Dubai can bring 6.14%, and 2, 3 and 4-bedroom homes can bring 5.83%, 5.58% and 7.05%, respectively.