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Should investors consider the City Walk area in Dubai

Стоит ли рассматривать инвесторам район City Walk в Дубае

The City Walk area in Dubai is one of the most striking and memorable. This place is created for those who are looking for a creative, creative lifestyle that would manifest itself in everything: in the design of internal and external spaces, entertainment, non-standard solutions related to the placement of amenities. The location is famous for its comfortable luxury apartments, as well as shopping malls and entertainment venues.

Description

City Walk is a creative space where you can live, work and have fun. Modern creativity thrives here, built on movement, information exchange, communication: everyone who visits it is inspired to actively search for the unexpected. ‍

City Walk Area in Dubai

The location, created by the world’s best designers, includes international retail stores, upscale outdoor restaurants, prestigious residential buildings, car showrooms, offices, the Tanabat regional headquarters, The Canadian University in Dubai, The Green Planet, Roxy cinemas.

The construction of the location was handled by Meraas Properties. A team of engineers decided to create something beyond the usual, for which they gathered ten artists and designers from different countries. The idea was that every building, every corner outside the buildings would turn into an art street masterpiece. The artists managed to turn City Walk into an open-air exhibition. They made the walls of the houses their canvas, and turned every image on it into visual poetry.

Social infrastructure

The area has everything you need for everyday life: shops, kindergartens and schools, pharmacies. There are several medical clinics nearby where you can get emergency or specialized care. For example, the Dubai London Clinic is a dental clinic, and the Medeca center provides consultations and assistance to patients with musculoskeletal problems. Emirates Hospital is a multi–specialty hospital located a 12-minute drive away.

You will also have to travel by car or public transport to the best beaches in the city. The nearest ones are Jumeirah Public Beach and Sunset Beach.

And yet City Walk is a place of entertainment and shopping. It is a mecca for fans of round-the-clock discos, nightclubs, restaurants and shops. 

Numerous boutiques, located in light-filled rooms and outdoors, sell fashionable clothes and accessories, jewelry, shoes, fresh flowers and modern household goods.

Outdoor feasts do not stop in restaurants. It serves Peruvian, Spanish, Lebanese, Italian, Chinese, American, French, Arabic, Indian and many other cuisines.

Transport

The most common type of transport in the community is personal cars. Several underground parking lots with 600 parking spaces are organized in the residential part of the city. There are also parking lots in another commercial area.

Other communities can be reached by bus: 5 bus lines run through the area. It is necessary to walk to the metro station: Burj Khalifa, Financial Centre Station and Business Bay stations are 15-20 minutes away on foot.

Attractions

Green Planet

Green Planet

This is a unique natural complex that creates a real humid tropical ecosystem in a country located in an arid desert natural area where it hardly rains, and the temperature in the summer months reaches +50 ° C.

The Green Planet is located in a huge covered pavilion. The building itself is an architectural landmark: It is made in a futuristic style and resembles an origami figure. The impression that visitors experience once inside justifies the wildest expectations: from a hot, dusty street, tourists find themselves in a real tropical jungle. The temperature and humidity inside are automatically maintained at the desired level, so the room is always cool enough (compared to the street) and fresh.

In the center of the pavilion there is a tree several floors high, on the branches of which the living conditions for snakes, sloths, turtles, birds, and other small animals are recreated. By the way, birds fly freely throughout the pavilion, enhancing the feeling of presence in the forest.

Mattel Play Town

Mattel Play Town

This playground is a Mecca for children of all ages. The characters of all the most beloved children’s fairy tales and cartoons live here: dwarfs, firefighters, ballerinas. At the same time, children can not just shake hands with the characters, but plunge into the world of their favorite cartoon: ride a fire truck, visit a ballet school, play on interactive playgrounds, wander through a maze. Kids are entertained by animators. Parents can safely entrust their children to them without worrying about safety, and at this time they themselves can relax at tables in a cafe.

Hub Zero

Hub Zero

This is another game center, but for older children who like to spend time playing games in a virtual space. The pavilion covers an area of 18,000 square meters, where scenes from favorite computer games are recreated. Children will be able to plunge into virtual reality in reality, feel the atmosphere of the game. In addition, the hall houses dozens of racing simulators, as well as a 4D cinema. There is a separate corner for the youngest guests.

Boutique Le Chocolat Store

Boutique Le Chocolat Store

The name of this outlet exhaustively explains what they sell here. However, this is not just a store, it is a real Chocolate House, which sells products from Switzerland, France, and Japan. Here you can buy 700 types of chocolate with different flavors. But Boutique Le Chocolat is not only a store where you can buy your favorite delicacy. Here you can make it yourself under the guidance of a professional chocolatier. In the cafe located right there, you can have a snack, but whatever you order, one of the ingredients of the dish will definitely be cocoa.

Caboodle Club

Caboodle Club

This is an entertainment facility where children are made to feel like real adults. There are many interesting entertainment activities here, in between which children can visit a beauty salon like their moms and dads, have a leisurely lunch in a cafe.

Suitable for whom

The community is great for young people, lovers of a creative lifestyle and families with children. The atmosphere of the community breathes freshness, the energy of creativity and movement, so young people will be very comfortable here. In addition, young people will find a lot of entertainment for themselves. Getting to other locations in Dubai for work or study will not be a problem. Those who have a family and children will also be able to appreciate life in City Walk. This is one of the safest areas. There are many places to spend time with children. Also, do not forget that the creative atmosphere that every piece of land breathes is an excellent background for the emotional and psychological development of the personality of children and adolescents.

But for lovers of peace and quiet, City Walk is definitely not suitable. Life boils here around the clock, lights flicker, music sounds. Crowds of tourists and people who are passionate about shopping flock here.

Realty

The area is divided into two zones: shopping and entertainment and residential. The latter houses 34 buildings of medium height, in which you can buy suitable apartments with a number of bedrooms from 1 to 4. There are no villas and townhouses in the community.

The living areas and layouts are diverse, there are duplex apartments. Each one has panoramic windows, large hallways, comfortable bathrooms. The bedrooms have separate bathrooms, a dressing room, and a balcony. The duplex apartments have two terraces and a swimming pool. Large living areas (several thousand square feet) include servants’ quarters, living rooms, and dining rooms.

Inside each complex there is a gym, a swimming pool for adults and separately for children, a spa. There are also sports and children’s playgrounds on the street, as well as terraces for relaxing.

The cost of a small one-bedroom property varies from 300 to 600 thousand dollars, with two from 600 to 900 thousand dollars. An annual rental of a small apartment will cost $ 12,000.

Investment attractiveness

The convenient geographical location (close to Jumeirah and the Business Bay business center), well-developed transport and social infrastructure make the area attractive for investment. It is profitable to buy real estate both for living and for further rental. Living in rooms in good hotels is expensive for tourists, so many people prefer to rent accommodation while traveling. For owners, real estate is a good source of additional income.

Real estate may be of interest to foreign investors, since the location is a «freehold» zone.

Despite the fact that the construction of the main facilities has long been completed, the City Walk area in Dubai continues to develop. The developer company is constantly completing new infrastructure facilities, which also increases the investment attractiveness. Apartments with one and two bedrooms show the best payback.

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Vladimir Sviridov
Vladimir Sviridov
General Manager RLC Consulting
With a Postgraduate Masters in Finance from The, Moscow State University, Russia. Vladimir started his professional career as an auditor of the financial sector of EY. After that, he worked for several years in senior positions in corporate banking. In 2018-2021, he managed the finances of a large agricultural holding, and is currently responsible for strategic planning, corporate partnership and financial management in the role of General Manager of RLC Consulting GROUP in the UAE.

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