Burj Khalifa is positioned at the center of the Dubai real estate market. It brings investors, residents, and tourists all year round. Thus, the surrounding locations have good tenancy rates and long-term prospects. In addition, central Dubai offers high connectivity and a high-quality lifestyle.
The world-class attractions and infrastructure are also an added advantage to buyers. Consequently, real estate adjacent to Burj Khalifa is of good value in the long run. It means that the area is something you have to take into consideration, whether you are going to live or invest.
This guide presents the favourable areas around Burj Khalifa, including the important aspects such as developers, unit sizes, ROI, and growth potential.
Best Areas Near Burj Khalifa for Buyers and Investors
1. Downtown Dubai
Dubai has Burj Khalifa, which is within walking distance of Downtown Dubai. Emaar Properties designed this flagship community. It is approximately 2 sq. km with a high urban layout. The neighbourhood has more than 157 residential and business buildings.
There are apartments, penthouses, and serviced homes. The unit sizes are between 560 sqft and 2,300 sqft. Thus, buyers will have options of small to luxury houses. The rental yields are typically 7%.
In addition, the average capital appreciation is 12% per year. The residents have direct access to the Dubai Mall and Dubai Opera. Consequently, there is a high demand among tourists and professionals. Downtown is the place that luxury buyers and investors with stable returns would want to invest in.
| Apartment Type | Average Sales Price | ROI |
|---|---|---|
| Studios | 1,765,000 | 7% |
| 1-Bed | 2,350,000 | 7% |
| 2-Bed | 3,970,000 | 6% |
| 3-Bed | 6,800,000 | 6% |
| 4-Bed | 19,244,000 | 9% |
2. Business Bay
Burj Khalifa is located within a 5-minute distance of Business Bay. It also has a size of about 4.36 sq.km, thus making it among the largest central districts. The area has over 352 buildings that consist of residential and commercial buildings.
The developers include Damac, Omniyat, Select Group, and Binghatti. It has apartments, hotel apartments, and penthouses. The average unit sizes vary between 410 sqft and 1,900 sqft. Hence, the investors have options that are flexible with regard to budgets.The yield on rentals is approximately 7%.
Besides that, capital gains are estimated at 10% per year. Dubai Canal increases the lifestyle value. Consequently, there is an increased demand among tenants. Business Bay is an appropriate choice for businesses interested in high rent levels in the vicinity of Downtown Dubai.
| Apartment Type | Average Sales Price | ROI |
|---|---|---|
| Studios | 1,159,000 | 8% |
| 1-Bed | 2,029,000 | 7% |
| 2-Bed | 3,003,000 | 7% |
| 3-Bed | 4,431,000 | 6% |
| 4-Bed | 11,073,000 | 6% |
3. Dubai International Financial Center (DIFC)
Burj Khalifa is within a 10-minute distance of DIFC. It has a small area of approximately 0.44 sq.km, making it a small financial district. The region contains more than 45 mixed-use buildings. There are DIFC Authority, DAMAC, and Daman developers in the area.
Luxury apartments and branded apartments form the major properties. The unit sizes are typically 480 sqft to 1,800 sqft. The zone is therefore targeting the luxury client. The rental yield is normally about 8%.
In addition, capital growth is between 5 and 7% per year. DIFC has fine dining, art galleries, and offices. Consequently, workers choose to live in the neighbourhood. This location is appropriate for investors who are aiming at high-income tenants.
| Apartment Type | Average Sales Price | ROI |
|---|---|---|
| Studios | 1,375,000 | 9% |
| 1-Bed | 3,255,000 | 8% |
| 2-Bed | 5,438,000 | 8% |
| 3-Bed | 7,445,000 | 10% |
4. City Walk
Burj Khalifa is about 10 minutes away from City Walk. This is a modern community that Meraas developed. It has a low-density layout on a total area of 1 sq. km. The space has more than 50 residential buildings. The properties are apartments, duplexes, and penthouses.
The size of average units is 900 sqft up to 3,000+ sqft. Hence, houses are less congested compared to the Downtown apartments. The average rental yield is about 7%.
Besides this, capital appreciation is an average of 19% per annum. The neighbourhood benefits from retail streets and cafes. Consequently, families and professionals are biased towards this area. City Walk would be preferable to those buyers who need lifestyle living.
| Apartment Type | Average Sales Price | ROI |
|---|---|---|
| 1-Bed | 2,641,000 | 7% |
| 2-Bed | 3,677,000 | 7% |
| 3-Bed | 6,600,000 | 6% |
| 4-Bed | 16,434,000 | 7% |
5. Jumeirah 1 (Al Wasl Area)
Jumeirah 1 is located between 10 and 12 minutes from Burj Khalifa. It is about 6.9 sq. km and has a low-density area. The neighborhood has an area of more than 200 villas and low-rise buildings. Some of the developers are Wasl Properties and various private developers.
These properties are villas, townhouses, and apartments. The average size of the units is 2,500 sqft-14,000 sqft. Hence, residential houses have bigger living areas.The rental yields tend to be 8%.
Besides, annual capital gains are about 20%. The location is near La Mer Beach. Consequently, people have a comfortable life. Jumeirah 1 is ideal for staying with the family and has space close to central Dubai.
Apartments
| Apartment Type | Average Sales Price | ROI |
|---|---|---|
| 1-Bed | 2,300,000 | 7% |
| 2-Bed | 4,080,000 | 7% |
| 3-Bed | 22,550,000 | 6% |
| 4-Bed | 32,967,000 | 5% |
Villas
| Villa Type | Average Sales Price | ROI |
|---|---|---|
| 3-Bed | 12,550,000 | 10% |
| 4-Bed | 15,750,000 | 9% |
| 5-Bed | 27,500,000 | 11% |
6. Sobha Hartland
Sobha Hartland is between 10 and 15 minutes from Burj Khalifa. This master community has been developed by Sobha Realty. It spans around 8 million sqft. The territory has more than 60 residential buildings and clusters of villas.
The property is in the form of apartments, villas, and townhouses. The unit sizes are averaged at 400 sqft to 5,000+ sqft. Thus, the buyers locate small and large houses. Normally, the rental yields are about 6%.
Besides, the rate of capital appreciation is approximately 6% per year. The neighbourhood has schools and parks. Consequently, it appeals to families and long-term investors. Sobha Hartland is an apt option for those buyers who want to develop and live a good life.
Apartments
| Apartment Type | Average Sales Price | ROI |
|---|---|---|
| Studios | 950,000 | 7% |
| 1-Bed | 1,365,000 | 7% |
| 2-Bed | 2,400,000 | 7% |
| 3-Bed | 3,320,000 | 7% |
| 4-Bed | 4,350,000 | 8% |
Villas
| Villa Type | Average Sales Price | ROI |
|---|---|---|
| 4-Bed | 14,000,000 | 7% |
Summary
The areas surrounding Burj Khalifa have a good lifestyle and investment value. Dubai Downtown offers luxury and stable demand. In the meantime, Business Bay is the place with better rental incomes and flexibility.
DIFC has a corporate environment that attracts premium tenants. City Walk provides open space and modern living. Jumeirah 1 is providing bigger houses and a leisurely life. Sobha Hartland offers high long-term growth prospects.
Consequently, all spaces have a separate purpose. The buyers are supposed to make a decision depending on their budget and goals. Nevertheless, the properties along Burj Khalifa are offering high demand, consistent returns, and long-term growth in capital value.
Al Furjan
