Dubai Property Market
- 36% YoY
Property sale volume
- 20% YoY
Property sale value (AED)
vast ambition, master planning, and high returns
MBR City (Mohammed Bin Rashid City) represents all that is celebrated about Dubai real estate: vast ambition, master planning, and high returns.
Announced in 2012, this mega project, encompassing several other property submarkets, carries the name of the esteemed Vice President and Prime Minister of the UAE, and Ruler of Dubai, Sheikh Mohammed Bin Rashid Al Maktoum. This endorsement ensures investors of a long-term, state-backed commitment and continuous development.
As an expansive mixed-use development and freehold zone, it’s positioned adjacent to Downtown Dubai and the eclectic Al Quoz, offering quick access to the city’s top destinations. With an estimated project cost of AED 30 billion, MBR City spans 45 million sq.ft. MBR City features the world’s largest artificial lagoon and an array of lifestyle attractions, including shopping malls, state-of-the-art golf courses and educational institutions.
Even part-way through its development, with handovers begun and most areas already thriving, MBR City is a sought-after location for tenants and investors alike, demonstrating strong tenant demand and promising price appreciation.
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MBR City Property Market Performance
Within the expansive scope of MBR City, Dubai Hills Estate stands out as a premier destination for real estate investment in Dubai. As of 2023, Dubai Hills Estate has climbed to the top 5 most transacted areas in Dubai and leads the way as the first in MBR City overall, with property values surging impressively by 43% from their pandemic low point in 2020.
This indicates strong potential for capital appreciation across the market, making MBR City highly attractive for investors. Indeed, Knight Frank’s 2023 Dubai market summary listed 3 locations associated with MBR City in its top 4 highest-performing areas:
- Palm Jumeirah: 53% annual capital growth
- Dubai Hills Estate: 30% annual capital growth
- Mohammed Bin Rashid City: 23% annual capital growth
- District One: 18% annual capital growth
MBR City investment and location
The advantageous positioning of MBR City, situated between major roadways like Sheikh Mohammed bin Zayed Road and Al Khail Road, ensures excellent connectivity to key areas of Dubai, including Downtown Dubai, Palm Jumeirah, and Dubai International Airport.
This prime central location is distinctive as an investment opportunity. Few other large-scale, off-plan, master-planned developments are positioned so closely to existing high-performing and established property hotspots and commercial centres.
MBR City’s unique blend of luxury and sustainability appeals to a broad spectrum of investors and tenants. The presence of significant developers like Emaar, along with mega projects like Dubai Hills Estate and Sobha Hartland with its boundaries, elevates its status further as a popular investment destination.
Investors have already noted strong tenant demand, minimal void periods and noticeable price appreciation from the initial stages of investment.
Diversity of asset types in MBR City
Although MBR City is home to the very top end of the villa market, where some of Dubai’s most luxurious properties reside, investors can also find a wide selection of real estate. This sprawling community encompasses everything from the Meydan One luxury district to Sobha Hardland’s mixed-use development, catering to diverse budgets and preferences. Each property within MBR is a testament to contemporary design and luxury, modern living standards with top-tier finishes.
The development’s rapid progress and the availability of ready-to-move-in projects, continue to draw significant investment interest. As such, this vibrant market sees properties often changing hands only days after the announcement.
Throughout its development phases, MBR City has offered an impressive selection of asset types, reflecting its commitment to diversity and innovation. Investors have had the opportunity to invest in:
- Penthouses
- Duplexes
- Villas
- Apartments
- Townhouses
- Land
- Whole buildings
Rental market in MBR City
Within MBR City, a diverse and vibrant rental market flourishes, appealing to investors keen on securing steady rental yields. Apartments, particularly, stand out as a lucrative avenue for those prioritising regular income, with an expanding holiday and tourism sector offering enhanced returns for the more experienced investors.
Some example rental values for areas of MBR City:
Sobha Hartland
- Average price for studios: AED 48,000
- Average price for 1-bed flats: AED 64,000
- Average price for 2-bed flats: AED 101,000
KOA Canvas
- Average price for studios: AED 76,000
- Average price for 1-bed flats: AED 92,000
- Average price for 2-bed flats: AED 156,000
Gemini Splendor
- Average price for 1-bed flats: AED 61,000
What amenities and facilities can residents enjoy in MBR City?
Residents of MBR City can enjoy extensive green spaces, state-of-the-art tourist attractions, leisure activities, the world’s largest man-made lagoon, and the upcoming Meydan One Mall. The area also features international schools, retail shops, eateries, and entertainment centres.
Is MBR City a freehold area, and can foreign investors buy property there?
Yes, MBR City is one of the largest freehold areas in Dubai, allowing foreign investors to own property. The development offers a range of freehold properties, making it an attractive investment opportunity for international buyers looking for long-term residency options like the Golden Visa.
What can visitors expect from the major shopping mall in MBR City?
The much-anticipated Meydan One Mall in MBR City is set to be one of the world’s largest shopping centres, featuring over 600 retail shops, including numerous luxury brands, and more than 100 dining outlets. This mall is poised to become a key attraction within MBR City, offering an unparalleled shopping and entertainment experience.