Realty values at Dubai Marina up 28%

(MENAFN- Khaleej Times) Dubai - A new wave of transport, retail and leisure facilities at Dubai Marina is continuing to drive buyer demand at the beachside location, where prices have risen by 28 per cent, to Dh1,670 per square foot in the past five years, according to Cluttons, an international real estate consultancy.

With the Dubai Tram now fully operational and The Beach Mall offering a mix of retail, dining and entertain-ment just a few minutes away, residential units at Jumeirah Beach Residence (JBR) are also proving a popular choice for both domestic buyers and international buyers. According to Cluttons, these additions to the location drive the value of real estate in JBR, with residential developments like Shams 1 proving popular with investors as they look to add prime real estate with attractive rental yields to their portfolios.

Across Dubai, aver-age residential values stand at Dh1,493 per square foot.