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TOP 5 projects with high profitability in Dubai Marina

TOP 5 projects with high profitability in Dubai Marina

Dubai Marina is a resort area in which properties are rented by tourists, business professionals, or those who want to live in perpetual vacation mode. Short-term rentals are of high-interest to tourists and business professionals, with durations ranging from 10 to 14 days for holiday makers, and 1 to 2 months for those working in the city.
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PUBLISHED: 28 June 2023
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Rentals for a year or more, in 80% of cases, are considered by families with children who prefer apartments with two bedrooms. Families are interested in residences on the first or second shoreline, ideally furnished, although tenants often seek to customise the accommodation to their own taste.

What to Know About Long-Term Rentals

To enter into a rental agreement for long-term rentals, the tenant must have an Emirates ID, which is the national identity card of the UAE. This is because, for long-term rentals:
  • A lease agreement is signed between the parties, registered with the Real Estate Regulatory Agency (RERA) and via the Ejari platform, which is managed by the Dubai Land Department (DLD).
  • An application is submitted to DEWA (Dubai Electricity and Water Authority) for the electricity and water connection.
  • The tenant is required to pay a security deposit and various fees.
Important! Rent payment is made via a bank cheque, specifying the annual rental amount. The payment can be divided into 2-4 cheques, meaning quarterly or semi-annual payments.
Within the scope of long-term rentals in Dubai Marina, one of the highest ROI’s can be found with two-bedroom apartments. Typically, families with children choose a complex that offers all amenities within walking distance and provides quick access to the surrounding infrastructure, including schools, nurseries, hospitals, supermarkets, etc.
Important! ROI (Return on Investment) evaluates the profitability of an investment and helps assess the viability of investing money in a particular project.
Property purchase in Dubai can be done without your personal presence. After the transaction you can start renting out your apartment, in which you can avail property management services. This is convenient for those who don't want to deal with paperwork, searching for tenants, maintenance of contacts with utility services, bill payments, minor repairs, check-ins/check-outs, etc. The rental income from your property can be transferred by the property management company to any account, regardless of your place of residence.

Investment-Worthy Projects

To choose a suitable residence for long-term rental, it is important to pay attention to projects that offer all the necessary amenities within the surrounding area. Additionally, tenants value quick access to highways, developed infrastructure, and nearby entertainment and leisure facilities.

Marina Gate

Average annual rental price: AED 250K (USD 68K)
Average purchase cost: AED 3.1M (USD 844K)
ROI: 7.4%

Marina Gate is located in the eastern part of Dubai Marina, near the yacht harbour, and was completed three years ago. The project is attractive due to its waterfront location surrounded by landmarks, and its quick access to the D94 highway that leads to Downtown Dubai. The complex appeals to people who work or frequently visit Business Bay and Downtown Dubai but prefer to live closer to the sea.

Within the complex itself, there is everything necessary for family comfort, including a children's playground, swimming pool, and relaxation area. Adults will appreciate the presence of a conference room, tennis court, gym, sauna, supermarket, and a beauty salon.

Dubai Marina Towers

Average annual rental price: AED 210K (USD 57K)
Average purchase cost: AED 2.5M (USD 681K)
ROI: 7.5%

Dubai Marina Towers, also known as Emaar 6 Towers, is situated on the waterfront near the yacht harbour. The complex is notable for its location which is surrounded by pedestrian streets, fountains and greenery. The development offers a convenient transportation network and provides access to the E11 highway, allowing quick access to any area of Dubai. Within walking distance are Barasti Beach and Dubai Media City Park.

Inside the complex, there are numerous amenities for family living, including a swimming pool, wellness centre, children's playground, and a first aid station. These facilities cater to both leisure and business gatherings, as fitness enthusiasts will appreciate the gym and fitness centre available on-site.

Marina Diamonds

Average annual rental price: AED 100K (USD 27K)
Average purchase cost: AED 1.2M (USD 326K)
ROI: 8%

Marina Diamonds is located near the waterfront, close to Dubai Marina Mall and the restaurant complex called Pier 7. The construction was completed 13 years ago. In addition to its amenities and well-maintained surroundings, its main advantages include excellent transportation connections, quick access to the E11 highway, close proximity to JBR Beach, and nearby childcare centres and schools.

The complex provides all the necessary facilities for comfortable living, including a children's playground, relaxation areas, a children's pool, and a garden with seating areas. Parents will appreciate the gym and fitness centre, as well as the barbecue area for socialising with friends, a sauna, and a swimming pool.

Mag 218 Tower

Average annual rental price: AED 160K (USD 44K)
Average purchase cost: AED 1.9M (USD 517K)
ROI: 8.2%

Mag 218 is located near the Marina Walk yacht marina, and its construction was completed 13 years ago. The complex is notable for its location, with Barasti Beach, Dubai Marina Mall, Jungle Bay Waterpark, and Dubai Media City Park all within a five-minute walk. This location is convenient for both families and individuals working in the emirate's centre.

The complex offers amenities for both adults and children, and include a dedicated nursery, spa centre, gym, BBQ area, swimming pool, relaxation areas, and more. For events and business meetings, there is a conference room available as well.

VIDA Residences

Average annual rental price: AED 300K (USD 82K)
Average purchase cost: AED 3.6M (USD 980K)
ROI: 9.7%

VIDA Residences is located in the western part of Dubai Marina, along the canal and offers beautiful views of the yacht club and the Arabian Gulf. The complex appeals to business professionals and their families who frequently travel for business but prefer to live in a resort area. Travel time to Al Maktoum International Airport takes approximately half an hour by car, and the complex provides quick access to the E11 highway, leading to Business Bay and Downtown Dubai. Dubai Marina Mall is within walking distance.

VIDA Residences offers everything necessary for comfortable living, including a pool, lounge area, hammam, spa salon, play zone, a fully equipped gym, and much more. For business meetings or negotiations, there is a conference room available.

According to Property Finder, in the first quarter of 2022, the average rental price for two-bedroom apartments in Dubai Marina was AED 100K. In the second quarter of 2023, this price reached AED 160K. This represents an almost 30% increase in value over the past year, while the average ROI remains at 6.2%.