Guide to Dubai Design District in Dubai
Creativity, progress, and entrepreneurial ventures converge within Dubai's primary hub for innovation, known as the Design District. Despite its recent inception, over the past decade, the authorities have successfully lured numerous investors, transforming this locale into a dynamic, forward-looking destination. Presently, it stands as a highly appealing prospect for both investors and aspiring designers. In this article, we delve into this district, its key strengths, and its potential for investment.
Overview of the locale
Dubai Design District, commonly referred to as D3, is a hub of creativity in Dubai. Launched in June 2013 by Dubai's ruler, Sheikh Mohammed bin Rashid Al Maktoum, this district is strategically crafted to invigorate growth and investments within the creative industries encompassing fashion, design, art, and media.
Within this district, one can find the headquarters of renowned fashion houses, the operational bases of innovative startups, concept boutiques, and contemporary art galleries. Moreover, it has become a global stage for some of the largest and most acclaimed events in fashion, music, and culture, such as Dubai Design Week and the Sole DXB Festival.
Situated in proximity to the prominent Downtown Dubai and Business Bay central districts, Dubai Design District enjoys a strategic geographical position. It takes a mere 9-minute car ride to reach the Dubai Mall, while the sandy shores of Jumeirah Beach along the Persian Gulf coast are a short 18-minute drive away.
There are convenient transport options, including a water taxi route connecting the Dubai Water Canal Station pier to the Dubai Design District pier in 10-15 minutes. Alternatively, one can opt for the F13 bus departing from the Burj Khalifa or The Dubai Mall metro stations, reaching the district's namesake stop in an average of 15 minutes.
D3 on Dubai map
Insight into area developers
The region's development is orchestrated by a prominent Dubai real estate developer, Meraas. They've designed each structure with a distinctive touch, incorporating diverse facade designs, finishing materials, and other architectural elements. Simultaneously, these buildings seamlessly align with the overarching vision of the creative quarter.
Resident and a glimpse into daily life
The denizens of this district primarily comprise startups, designers, and architects. Moreover, it's not uncommon to encounter young families with children, given the area's well-established social infrastructure. This includes kindergartens, schools, and recreational spaces replete with playgrounds.
Advantages of Dubai Design District
Beyond its business hubs, the designer quarter boasts a plethora of retail outlets, renowned eateries, and cafes. As the epicenter of cultural life, Dubai Design District plays host to major events like Fashion Week, conventions, and an array of art exhibitions, attracting both residents and visitors.
Housing within the area encompasses a variety of layouts, catering to a broad spectrum of buyers. Dubai Design District also boasts The Block embankment, which is meticulously maintained and features amenities like a volleyball court, a skate park, shaded walking areas under lush trees, an extensive selection of shops, and excellent transportation accessibility.
The district is home to several contemporary co-working spaces and business centers that regularly organize themed events and workshops, such as calligraphy sessions. These gatherings serve as a meeting point for leading professionals hailing from diverse domains within the realms of design, business, and the creative industries.
Investment prospects and economic allure
This quarter appeals to a vibrant demographic comprising young professionals from creative industries, alongside investors and burgeoning startups. It presents a lucrative opportunity for real estate investors, spanning both short-term and long-term rentals. Notably, demand for apartments surges during major events like fashion weeks and international exhibitions.
Projected returns on 1-bedroom projects hover between 5.5% and 5.7% for short-term leasing. With relatively few properties in the vicinity, investors can anticipate robust yields, ranging from 20% to 25% upon resale.
Infrastructure in Dubai Design District
Within Dubai Design District, you'll encounter charming cafes and restaurants, including renowned establishments like the Japanese eatery Akiba Dori, the Syrian restaurant Mum's Table, and the French bistro Chez Charles.
Moreover, the district is home to the Audi Innovation Center, a venue hosting significant events such as the quarterly Re-action project, dedicated to fashion and design, as well as the expansive Middle East Design Festival, Dubai Design Week.
No creative enclave would be complete without a Design Institute, which is why a dedicated Institute of Design and Innovation has been established in the cluster, nurturing the finest talents in the realm of cultural industries.
Educational and family-friendly amenities
The district boasts a sole kindergarten, Blossom Design.
Families with school-going children have convenient options in neighboring areas within 15-20 minutes by car:
- Hartland International School;
- Dubai Bilingual French International School;
- Swiss International Scientific School.
This quarter is renowned for its captivating design installations and architectural marvels, showcasing over 30 design and art compositions, including the iconic red My Dubai logo.
Additionally, a park stretches along the Dubai Canal, offering recreational spaces, sports facilities, and children's play areas. Activities like rock climbing and volleyball tournaments are available, while residents can enjoy leisurely strolls along the modern and well-maintained canal promenade.
Proximity to DXB Airport is just a 10-15 minute car ride away. Moreover, there's a dedicated metro station and a marina that share the district's name, enhancing connectivity.
Real estate options in the district
This residential complex is nestled in the heart of the creative quarter, conveniently placing residents a mere 9 minutes from the Dubai Mall and an 18-minute drive from the sun-kissed sands of Jumeirah Beach along the Persian Gulf coastline. Dubai International Airport is also easily accessible, being a short 13-minute journey away.
The developer offers apartments featuring serene light color schemes with vibrant accent elements. Various layouts are available, including options with 1, 2, or 3 bedrooms.
Upon entry, residents are welcomed by a bright and spacious lounge area adorned with live plants. The combination of radiant walls and ample natural light fosters a conducive environment for creative endeavors. Notably, the lobby's standout feature is a wall adorned with captivating street art. Residents have access to well-equipped areas for group discussions and brainstorming sessions, in addition to private workstations for solitary tasks.
The complex offers opportunities for leisurely strolls along shaded pathways under the canopy of sprawling trees. Families can unwind in the picturesque garden, perfect for reading one's favorite book or hosting outdoor barbecue gatherings. Additionally, residents can bask in the ambiance of a two-level infinity swimming pool within the lounge area.
Pricing starting at $670,000
Shortly into property purchase regulations in Dubai
It's crucial to recognize that real estate acquisition rules vary across different Emirates in the UAE. Here, we'll provide a brief overview of the unique aspects of property transactions in Dubai.
When contemplating the purchase of apartments with full ownership rights, it's essential to focus on residential complexes situated within specific zones known as freehold. In contrast, in areas designated as leasehold, ownership is essentially leased for a duration of 99 years.
Every property transaction in Dubai must be officially registered with the DLD, accompanied by a 4% tax on the property's value. It's worth noting that foreigners can apply for mortgages, provided they possess a resident visa. Even in such cases, there may be limitations on the loan amount.
Is property tax applicable in Dubai?
No, property tax does not exist in the UAE. Additionally, there are no income taxes imposed on rent, resale, capital gains, or personal income. The only levy is a one-time registration fee of 4% of the property's value, payable to the Dubai Land Department.
Is a physical presence in the UAE necessary for property acquisition?
No, property transactions can be conducted remotely. However, if you intend to apply for an investor visa, you must be present in person to submit documentation and undergo a medical examination in Dubai.
What are the advantages for investors in Dubai Design District?
Investment opportunities within this district offer a reliable prospect of long-term growth. It currently ranks as one of the city's most modern districts, benefitting from substantial investments by the government. Fostering creative industries represents a key developmental focus for the Emirates, ensuring that real estate within this cluster continues to appreciate annually.
For those interested in investing in high-liquidity projects within the Dubai Design District, our brokers are ready to assist. They will identify the most appealing market offers and guide you through the transaction process, all while maintaining a commitment to excellence and without charging a commission.