Culture Village in Dubai, the United Arab Emirates

Sunday, February 05, 2012

	Culture Village in the United Arab Emirates Highlights: Culture Village: Culture Village is intended to be a world-class destination that mixes old-world pleasures and entertainment with a modern, sophisticated ambiance. Culture Village will feature wide open spaces, traditional wind towers, cobble stone walkways, unique sculptures, waterways topped with bridges, creek side souks, restaurants and cafes, an amphitheater for live performances and cultural festivals, an exhibition hall and museums, and a dockyard where traditional dhow building will be on display. It will blend Middle Eastern history with the rich heritage of Dubai, offering an inspired mix of Arabic and old Dubai architecture. Murals, sculptures and pottery will adorn the façades of buildings and street corners. Culture Village's master plan has been divided into residential, commercial and retail zones with hospitality and entertainment sub-districts. The residential district will feature traditional low to medium-rise buildings offering studio, one, two, three, and four-bedroom apartments with contemporary interiors, including loft-style apartments with work areas. The commercial district will house cultural institutions, schools, academies for art, music, dance, pottery and other crafts. World-class infrastructure and facilities will be available for each organization. Economic Fundamentals: Dubai Creek is already an established, vibrant economic and tourist area. It is the old charming part of Dubai that was the traditional centre of trade and is a highly sought area with locals and foreign businessmen, as well as a tourist hub. It is located in close proximity to the airport that sees millions of travelers each year. Heritage Village and Culture Village will provide a unique new addition the creek that sticks to Dubai’s traditional themes. It will attract residents from the Dubai Creek and tourists looking for a theme of traditional Dubai. Rental Proposition and Expected Yields: The apartments offer a unique tranquil residence amongst the vibrant area of the Creek. There is high demand from professionals working in this area and the adjacent mega business district of Business Bay. It is expected to fetch in the region of 12-15% rental yields for long term lets. Demand is already very high in this area. The theme and location makes this very attractive to the many business travelers to the creek and the ever increasing tourists. Short term lets is also a very good option and rental yields in the region of 20% can be achieved. Value Proposition Highlights: The Dubai Creek is already a bustling area vibrant economic area. The Heritage Village and Culture village will be in a position to build on Dubai’s growth by adding to this already successful area. This makes it a prime area to take advantage of the capital growth expected by the further development of this area.There are numerous 5 star hotels, corporate offices and shopping malls in this area. Value of this area will be amongst the first to benefit from any growth in Dubai’s property market and economic growth.The construction of the airport an the mega Business Bay project will significantly add to the value of developments of the Creek by brining in high income workers to the area.The rental income is expected to be high from the residents who already work in the area and the in the area and the nearby mega business district of Business Bay.Comparable price per square foot is very cheap when compared to neighbouring Dubai developments again highlighting its incredible value. It is considerably cheaper than Business Bay but in very close proximity to it. Culture Village in the United Arab Emirates Location - in Dubai, United Arab Emirates Development - Culture Village