Dubai’s Mohammed Bin Rashid City (MBR) area is classified as the newest. Its construction began only 10 years ago and is still far from completion. However, the scale of the project can be judged by the area (108 square kilometers) and the total cost ($8 billion).
The goal of the project is to create a community with an emphasis on luxury living, sustainability and innovation. This is a real city within a city, which will house more than 26 thousand buildings: from high-rise towers to luxury villas and townhouses. The community is designed to be multifunctional: it will house residential complexes, business centers, educational, commercial and industrial institutions, as well as many cultural facilities at the same time. So far, this is the most ambitious construction project in the country. It was for this reason that it was decided to give him the name of one of the current rulers of the principality. MBR is already being called the new hub of Dubai.
Location and features
The Mohammed Bin Rashid City community is being built on a giant desert area bounded by the southern contour of the Business Bay area and the Bin Said highway. The most expensive communities are nearby. The area was conceived as the most prestigious and advanced, in which the comfort level will reach an even higher level. All this is supposed to be achieved through the introduction of unique technological projects, such as the construction of Crystal Lagoon, a seven–kilometer artificial lagoon along which bulk beaches of white sand and walking embankments will be organized. Upon completion, the project will become the largest engineering facility in the country.
More than 60% of the territory is given over to green spaces: park areas, gardens, golf courses. The area of Central Park will be 30% larger than the area of Hyde Park in London.
Transport accessibility, social infrastructure
MBR City has its own monorail connecting the community with the principality’s main air harbors. The International Airport is a 20—minute drive away, and Al Maktoum Airport is a 40-minute drive away.
Business Bay and Al Safa Metro Stations are a 10-minute drive from Mohammed Bin Rashid City. A new metro line is coming soon. There is no direct bus connection to the center yet, but you can get there in half an hour by taxi.
For those who have private transport, the village offers spacious parking. Each residential complex has an underground parking lot. The villas include garages for at least two cars.
Since the area is located near the main highways of the city, it takes 20-30 minutes to reach other communities, including entertainment, for example, Palm Jumeirah, Downtown or La Mer Beach.
Social infrastructure and entertainment
Over time, more kindergartens, schools, shops will be built in the community, and medical clinics will open. So far, we have to go to neighboring areas for medical and educational services, but the distance to them is small.
Family tourism is one of the goals of MBR City Dubai. To attract tourists, a large family entertainment center with hundreds of hotels of different classes is being built here.
All conditions are created for active recreation here, as in any other community. Along the Crystal Lagoon promenade there are walking paths, bike trails with a length of 2, 4 and 8 km. There is an equestrian club that teaches horse riding, as well as world-class competitions, a 9-hole golf course. For underwater entertainment, MBR has built a diving center with the world’s deepest diving pool. There are also many gyms, tennis courts, swimming pools, including those located on the roofs of hotels, playgrounds.
In the foreseeable future, Mohammed Bin Rashid City will have a sports complex with the longest indoor ski run of 1 kilometer, a yacht club and a water park.
Architecture and sights
The architecture of the community is diverse, characterized by innovation and futuristic design. The buildings are made in Arabic, Mediterranean and modern styles.
The most striking architectural landmark is the Dubai Frame, a giant frame building with an elegant modern design and a height of 150 meters.
Another attraction will be the Meydan One complex, which will house the tallest residential tower in the world. It is here that an indoor ski slope with a length of 1.2 km will be built. The tower will have a unique curved design and a height of 711 meters, which will make it taller than the Burj Khalifa, which is still the tallest building in the world.
Mall of the World shopping center is another object claiming the title of world uniqueness. Its design area is 4.5 million square meters, and the planned capacity is 180 million people per year.The mall will house 620 shops, about 200 restaurants and cafes, two supermarkets, one hypermarket, a cinema with 21 halls and other entertainment. The most expensive boutiques will open on the central 400-meter street called Central Canyon. The complex will be equipped with a sliding roof. This mall will become the largest in the world.
Another attraction that is at the stage of implementation is the area of art galleries, where works by artists from all over the world will be exhibited. In addition to this large-scale cultural cluster, the project provides for the construction of a library center combining 8 libraries of various specializations, which will house 4.5 million book publications.
Also, according to the design plan, a multifunctional concert hall with 30,000 seats Grand Plaza, a cultural and historical center with a museum of ethnography, and a musical fountain will appear in MBR City.
The area was conceived as a place to attract very wealthy investors and families who are used to living in conditions of increased comfort, as well as those for whom a high level of environmental friendliness is an important component of everyday life.
This is exactly what the developer offers. Here you can find multi-room apartments in high-rise buildings or villas and townhouses in a separate low-rise neighborhood. All types of housing are spacious, have 3-4 bedrooms, panoramic windows, balconies and terraces. Low-rise buildings have courtyards with swimming pools and landscaped gardens. The houses are equipped with solar panels, energy and water saving systems. Extensive areas are also being built here for commercial purposes.
The community is characterized by high investment attractiveness. The area belongs to the category of very expensive, but is still under construction, so now discounts and bonuses are available for the purchase of residential and commercial real estate. As construction nears completion, prices will rise, and installment and installment payment offers will become less profitable. The amount of net profit from investments is not less than 8% per year.
Entertainment, sports, cultural and commercial complexes, operating and those that will be completed in the future, will attract millions of tourists, which will increase the demand for rent.
An important feature of the community is the low density of buildings combined with a high component of green areas.
Real estate in MBR City
The cost of real estate is high. The minimum price for a one-bedroom apartment is 650 thousand dirhams. Apartments with 3-4 bedrooms are the most popular for families with children. Their average cost is 4-8 million dirhams. Townhouses and villas will cost more, their cost is estimated in the tens of millions.
Acacia in Park Heights
These are three low-rise buildings housing 479 apartments (1, 2 and 3 bedrooms).The Acacia residential complex is a quiet enclave with several outdoor pools, surrounded by trees. It is located away from the hustle and bustle of downtown Dubai. However, due to its excellent location between major highways, residents are only a short drive from business, financial, shopping centers and tourist attractions.
For 1.5 million AED, you can buy an apartment with one bedroom and one bathroom in this complex, and housing with three bedrooms and three bathrooms will cost 3 million AED. The annual rental price starts from 190,000 AED.
District One Residences
This is a neighborhood that the developer recommends for purchase for the purpose of investment and obtaining further passive income. It has dozens of multi-storey buildings (from 4 to 16 floors) with 1-3 bedrooms, as well as 1,500 villas. This is where the new generation mall Meydan One Mall, racing and golf clubs will be located.
The cost of a studio apartment starts from 340 000 dollars. The developer offers a flexible payment system. The entire payment is divided into 8 tranches, each of which is paid as the construction progresses. The first payment is 5% of the cost of the apartment, the second and third – 10 and 5%, respectively (the terms are fixed in the contract). When the building is completed by 40%, the buyer is obliged to pay another 5% of the cost, and then 5% each when the construction is brought to the level of 50 and 60% completion and 10% when the construction is ready for ¾. Thus, the first 50% of the cost is paid. The last eighth tranche (50%) is repaid when the house is put into operation. Approximately the same scheme applies to two- and three-room apartments.
District One Residences is located near several business centers in Dubai. It will be convenient not only for financial investments, but also for family living of working people. They will be able to reduce the time of trips to and from work and spend more time with their family, walking along shady park alleys, sunbathing on the shore of the lagoon or doing sports.
In addition, District One Residences will attract many businessmen coming to MBR and neighboring areas of Dubai on business trips, for contract work or in search of employment. Housing can be rented out profitably for short-term and long-term rentals.