Jumeirah Village Circle becomes preferred residential location

1 min read

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JVC or Jumeirah Village Circle is now a fast growing locality in Dubai and offers several projects under construction and many that are completed. This is a master development (freehold) by Nakheel, which was launched back in the year 2005. The Jumeirah Village Circle covers a whopping 870 hectares and is already home to almost 30 projects, which are being constructed. The entire community is spilt into 6 districts and all districts with the exception of district 16, are planned in a similar manner.

JVC (Jumeirah Village Circle) is located along the Sheikh Mohammed Bin Zayed Road and is strategically positioned between Al Khail Road and Hessa Street. The area is dotted by several townhouses and apartments and the property prices are really competitive here. Average apartments prices and rentals have already gone up in JVC with rising demand although there was a price decline previously. JVC has already witnessed a skyrocketing number of transactions for apartments. Most of the transactions covered one and two bedroom apartments along with studio apartments. JVC offers quality infrastructure and other community amenities.

The neighbourhood is well connected to places like Jumeirah Lakes Towers, Dubai Marina and Jebel Ali among other prime locations. This makes it a great place to invest. There are several luxury villa projects that have been completed here as well. Office towers may also be developed in the future along with other commercial structures. There may be hotels and serviced apartments as well. The One by Ramada Plaza and Suites and Vantage and Constella by Damac are major developments in this regard. There are several commercial plots being sold and this should fast track development in the near future.

The provision of district cooling facilities for the neighbourhood and the Jumeirah Village Triangle which lies nearby, should definitely make it more attractive for real estate investors. JVC is likely to witness a major residential real estate boom in the future while the commercial sector will steadily be developed as well. Marriott International has already tied up with Khamas Group of Investment LLC for setting up two new hotels in the JVC. These will be the Residence Inn and Courtyard hotels and will cumulatively offer 250 rooms along with facilities like a swimming pool, excellent food and beverages, meeting zones and a health cum leisure club. These hotels are expected to be operational by the year 2020, thereby giving a greater fillip to the social infrastructure in the area.

 

Resident Editor