Meydan City district in Dubai

Meydan is a thriving and promising district near the heart of Dubai. What sets this area apart from others, how appealing it is to investors, and what opportunities are currently available in the market – we cover all of this in our article.

Meydan stands as one of the largest and most developed districts in the emirate. The brainchild of Sheikh Mohammed bin Rashid Al Maktoum, the ruler of Dubai, this project’s esteemed origins underscore its high status.

The district boasts several dozen residential properties, shopping centers, children's entertainment zones, educational institutions, restaurants, and hotels. A special emphasis has been placed on greenery, with parks, open-air gardens, and more adorning the area.

About the developers  

The district’s construction and design are spearheaded by the developer Meydan Group. Meydan's buildings captivate with their architecture, featuring sleek lines and innovative structures with glass elements. This further cements Dubai's reputation as a global hub of design and technology. The residential areas are equipped with waste management systems, and all buildings are designed in accordance with environmental standards.

Offices and residential buildings are nestled among shops and pedestrian zones. The level of comfort is significantly enhanced by the presence of walking paths, water features, and green alleys, providing a serene escape from the hustle and bustle of everyday life.

Life in Meydan is vibrant and dynamic. This district is highly popular among business professionals and young people, drawn by its strategic location, abundance of office centers, cultural venues, and restaurants.

Beyond the entertainment and work opportunities, the area is dotted with green spaces, providing residents a tranquil retreat from the city's fast pace.

Advantages of Meydan  

For living and leisure  

• A wide selection of new developments catering to all tastes.
• Continuous landscape development. 
• Proximity to many of the city's attractions. 
• High level of safety.
• Various shopping centers and entertainment options. 
• Excellent environmental quality due to numerous green zones throughout the district.

For business:  

Meydan Free Zone, a hub for business development, offers licenses for over 1,500 different activities along with key advantages:

• 100% property ownership. 
• 24/7 office access. 
• Tax exemptions.
• Flexible visa issuance.
• Banking support and more.

Within days of registration, residents can start operating under competitive packages and tariffs. The district also hosts numerous exhibitions and conferences, attracting investors from local and international companies worldwide.

Investment opportunities and economic appeal  

Investors will appreciate the extensive range of real estate options in Meydan, from cozy apartments to spacious private villas and townhouses. Buyers can benefit financially with up to 20% savings thanks to attractive payment schemes for off-plan projects in Dubai. Additionally, developers offer appealing premium programs and bonuses – some may even cover the registration fee in the Land Department on behalf of the buyer.

The average investment return in Meydan is about 8% per year, with a payback period of around 12 years.

The district's residential and commercial projects are realized by top developers in the emirate, such as Emaar and Meraas Holding. Developers like Sobha and Azizi Developments offer budget-friendly residential complexes, including Azizi Riviera and Azizi Victoria.

In Meydan, residents can indulge in various activities, whether it's reading at one of the city's largest libraries, the Mohammed Bin Rashid Library, taking a stroll in the park or along the waterfront, or spending the evening in a state-of-the-art gym.

For dining, we recommend visiting:

• The renowned Shiba Restaurant, where you can savor traditional dishes from the Emirates and the Middle East. 
• MOOD Rooftop Lounge, featuring panoramic windows and an international cuisine. 
• The locally popular CUT IN HALF, where national dishes receive modern interpretations from creative chefs. 
• Otto Foods, a restaurant-store with a wide assortment of dishes and products for discerning gourmets who wish to immerse themselves in the world of local cuisine.

Schools and family-friendly infrastructure  

Meydan is home to several schools, including Hartland International School, Rashid School for Boys, Ice School, and the International School in Nad Al Sheba, where children can receive a world-class education.

Many families spend their time shopping at one of three malls: Avenue Mall Nad Al Sheba, The Arch Mall, and Dubai Festival City Mall. On weekends, families can visit various amusement parks such as IMG Worlds of Adventure, The Zone, or Adventure Park, or have fun at the Splash Park waterpark.

Attractions  

Meydan Racecourse: A renowned landmark and symbol of the district, this racecourse can accommodate 60,000 spectators and is the venue for the Dubai Cup, the horse race with the largest prize fund of $30,000.

Museum of horse racing and godolphin stables trophy gallery: A place to learn about the history of horse racing and see achievements in the field over the years.

Meydan Golf: A golf course with breathtaking views of the city.

The palace of his highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum: While this luxurious palace of Dubai's ruling family is closed to the public, it’s worth admiring from the outside.

Several other attractions are in nearby areas and can be reached conveniently. For example, the drive to Burj Al Arab, The Walk JBR promenade, and the artificial island Palm Jumeirah takes about 35 minutes.

Transportation access  

Meydan is conveniently located between several major road arteries: Al Khail St. and Al Meydan St., making it easy for residents and visitors to reach any location in Dubai. For example, the drive to Downtown Dubai takes just 10 minutes, while reaching Palm Jumeirah and Burj Al Arab takes 30 minutes.

A planned tram line will further enhance connectivity, linking the district center with the Meydan Racecourse, expected to handle 10,000 passengers. The nearest metro station is in the neighboring Business Bay district, a 15-minute taxi or city bus ride away.

Types of real estate  

Meydan is a diverse, family-oriented district offering a perfect property for everyone: spacious villas for large families, cozy studios for rental investment, or apartments with panoramic bathroom windows.

Purchasing real estate in Dubai can be done in two ways:

• Buy in central city areas without obtaining full ownership.
• Buy in freehold zones to get 100% ownership indefinitely.

Additionally, the buyer must make an initial deposit of 10% to 20% of the property's value. If buying with a mortgage, life insurance covering 0,4% to 0,8% of the mortgage amount is required. Moreover, you must pay off the entire mortgage before registering the property in your name.

FAQ  

What is the purchase amount required to obtain a Golden Visa?  

Buying real estate worth at least $545,000 qualifies you for a Golden Visa. For more details, refer to our article «How to obtain residency in Dubai».

How to choose a district?  

For investment, business-centric areas like Downtown, Business Bay, Al Wasl, or prime tourist spots like Dubai Marina or Jumeirah are beneficial. Families might prefer quieter neighborhoods like Dubailand or JVC. The most luxurious options are found in Damac Lagoons, Damac Hills, and Dubai Hills Estate.

What are the benefits of buying an apartment in Dubai?  

• Rental and resale income are tax-free. 
• High level of safety.
• Opportunity to obtain residency.
• The price includes the entire infrastructure of the residential complex.

What additional costs might occur when buying an apartment?  

Additional expenses during the transaction include:

• One-time administrative and registration fees for the Dubai Land Department (DLD).
• A 4% duty on the property's value paid to the DLD.

What are the advantages of Dubai's real estate market for investment?  

• No annual property tax. 
• High rental yields compared to other global cities. 
• 100% ownership on par with UAE citizens. 
• Investment of at least $272,000 in real estate makes you eligible for a UAE residency visa.

What documents are needed to buy real estate?  

A valid passport is required for the transaction. You might also need a bank statement, tax declaration, and a completed KYC buyer's form.

Can I rent out the purchased property and in which areas?  

Yes, you can rent out property either independently or through licensed companies. In 2023, rental prices saw significant growth in Dubai Marina, Business Bay, and Downtown.

Is a mortgage available, and how can it be utilized?  

International mortgage lending is available in Dubai with various rates and terms depending on the bank. To qualify for a mortgage, borrowers must meet at least 2-3 criteria:

• Residence visa. 
• Official employment or company ownership in the UAE.
• Initial down payment of at least 25%. 
• Age between 21 and 65 years, or up to 70 years for self-employed individuals. 
• Property ownership in the UAE.

Is it expensive to maintain property in Dubai?  

Mandatory expenses include monthly utility bills and annual maintenance fees. There are no taxes.

What types of real estate are available?  

Homes, apartments, scenic penthouses, land plots for development, and spaces for hotels, restaurants, and shops.

Conclusion  

Looking to buy an apartment in Dubai for living or investment? We can help. Visit our homepage to explore dozens of current offers in the Dubai real estate market. Request a callback below, and our experts will find the most suitable options for you and help you navigate all legal intricacies. With love and no commission.