To the prospective buyer~ A Broader Perspective
Some may be looking for a home, a temporary residence or a vacation property, others an investment that will increase in value over time. For still others an apartment or villa purchase in Dubai can represent both, good accommodation and good investment. Alternatively, many readers of this site may not be anywhere near the point of buying anything but are nonetheless curious about the process.
The following discussion presents a broader framework in which to view a possible purchase at the MAG 218 Tower. What does one whose interest has been piqued need to consider after he or she has seen the architectural renders or read about the project's features? Unfortunately, perhaps, buying property is a very emotional experience. Once one sees something he likes the power of the imagination tends to take over and obscure rational thinking. Keeping this in mind it helps to take a step back early on in the process and look at a number of practical issues that must (or should) impact any decision.
Location & Price
Perhaps these are the two most important initial considerations. Price is a question of one's financial resources. It is seldom a cut and dry affair, as one can often work out a variety of payment schemes. It is best, however, to come up with as broad a range of what one can afford as possible. A not too conservative (and yet still achievable) range will allow one to more realistically eliminate that which is clearly out of reach while at the same time leave open a wide enough field to come close to finding one's ideal property.
Location is a question of both the buyer's individual requirements and the characteristics of the particular locale. The buyer's requirements relate to how one intends to use the property. For example, the resident buyer requires a property in either close proximity or with easy access to one's place of work, whereas the vacation-home buyer would be more concerned with proximity to leisure and recreational facilities.
Characteristics of the particular locale relate to environmental issues, such as in what surrounds the property or lies nearby. Do other buildings obstruct or enhance views? Do open spaces exist at all and are they attractive or an eyesore? Are there sufficient transportation options and are these a convenience or an annoying source of noise and pollution? Are skies clear or hazy, are there natural breezes and is there sufficient greenery?
What about issues of personal security? Details like these cannot be understood by simply viewing a sales brochure. In fact, many brochures present a misleading image of calm and aesthetic charm in the areas surrounding their developments, while often these are merely conceptual illustrations with little basis in fact.
In order to really understand the environmental setting one must be able to examine the actual site and its surroundings as well as gather information on planned future development in the area. The following provides such descriptions and offers comparisons, first on the Dubai Marina as a whole, then on the immediate vicinity of the MAG 218 Tower.
The Dubai Marina vs Other Dubai Locations
Although it is impossible within a brief presentation to provide a detailed comparison of the various locales around Dubai where freehold property is available, one can highlight what the Dubai Marina has to offer with some incidental comparisons.
Since its inception, the Dubai Marina has been planned as a residential and leisure community defined by a very urban dynamic. It contrasts with most of the villa developments around the city which are primarily sub-urban in nature. It differs also from the nearby Jumeirah Lake Towers development (similarly urban) which in place of the leisure component adds more of a business and commercial element, in conjunction with its residential focus. Other new developments like Business Bay and the Burj Dubai's new and old towns are set to focus even more on the business and commercial element.
The focus on leisure within the Marina suggests that one will find perhaps as many tourists out on streets in the evening as residents. This would make the Marina somewhat similar in nature to the Jumeirah Palm and other island developments off the coast which will also focus on holiday and leisure activities. However, these more exclusive developments will most likely have a higher ratio of tourist to resident occupant. Meanwhile, the Marina will also offer convenient access to the rest of the city with dedicated roads, highway interchanges and bus and rail services, most of which have already been announced with construction begun or soon to begin. The island developments, due to their deliberate focus on exclusivity, may mean a difficult commute to work for working residents. On the other hand they would certainly offer a more relaxing holiday experience.
The Cost of Living
Will the Dubai Marina be an expensive neighborhood? Probably yes, but so will nearly all of the other new urban developments. It will, of course, be cheaper than the island developments, and more convenient in terms of commuting and shopping than the villa developments. International City will probably be the only new district in Dubai to have cheap establishments for eating and shopping similar to that in the city's older districts of Deira, Bur Dubai, Karama, Satwa, etc.
Will the Dubai Marina be too urban--as in being over-crowded with buildings. pedestrians and road traffic? Probably not, as the marina waterway itself will add a sense of space and openness. The promenade along the marina will be expansive enough to accommodate a lot of pedestrian traffic and this along with a wide choice of transportation options--including perhaps water taxis--will tend to keep road traffic down. Signs are, however, that there will not be adequate parking for visitors and most towers seem set to provide sufficient parking for residents, but very little for guests. The remaining open spaces in the Marina are not likely to be spoilt with open parking facilities.
The nearby beach (most of what is available fronts the Jumeirah Beach Residences), will most likely be inundated with crowds, especially on more pleasant, cooler days. This is due to the dense cluster of towers which make up the Jumeirah Beach Residences--nearly 40 in all ranging in height from 25 to 45 storeys. A high percentage of residents there will probably be vacationers whose primary objective will be to spend time on the beach! So despite its proximity to the Arabian Sea, the ability of the Dubai Marina to offer good beach access will probably be spoilt by this over-built project.
How many people will live in the Marina? One can only guess as it is a question of how large and how many towers will eventually get built--estimates are around 200, including the JBR. Also a consideration is how many units will actually be sold and what percentage of them will be occupied by end users--either owner-residents, renters or the staff whose companies provide accommodation there. Speculation goes well above 100,000 total inhabitants. But if sales are low or fewer purchases end up in the hands of end-users then the numbers could be significantly lower. By way of example, the MAG 218 tower will be of above average size for a Marina towers, with a mix of 550 1- and 2-bedroom apartments. One might project a total resident population of well over 1000, were the tower fully sold and occupied by end users.
Conclusion
The advice for those considering the MAG 218 is that they consider whether the Dubai Marina is suited to the kind of lifestyle they prefer and can afford. Perhaps a suburban setting would have more appeal, or one may want to have more of the convenience that a real business district has to offer. Not yet mentioned are two even more expansive developments to be completed in the more distant future--one the multi-themed Dubai Land and the other, the Dubai Waterfront, a coastal and river-based project. The Waterfront will probably include some elements of the Dubai Marina, perhaps on a larger scale, along with a variety of other components, while Dubai Land will be centered around recreational, educational and entertainment parks and sporting venues. The most objective comparison to be made with these developments is that construction within the Dubai Marina will be mostly complete by the end of 2008, whereas these newer developments will probably be right in the heat of things at that time.
In the next section a closer look will be taken at the particular environmental features in the vicinity of the MAG 218. How does it compare to adjacent and more distant towers in the Marina--in terms of location.
Please proceed to The MAG 218 Environment
Return to MAG 218 Community homepage.
The following discussion presents a broader framework in which to view a possible purchase at the MAG 218 Tower. What does one whose interest has been piqued need to consider after he or she has seen the architectural renders or read about the project's features? Unfortunately, perhaps, buying property is a very emotional experience. Once one sees something he likes the power of the imagination tends to take over and obscure rational thinking. Keeping this in mind it helps to take a step back early on in the process and look at a number of practical issues that must (or should) impact any decision.
Location & Price
Perhaps these are the two most important initial considerations. Price is a question of one's financial resources. It is seldom a cut and dry affair, as one can often work out a variety of payment schemes. It is best, however, to come up with as broad a range of what one can afford as possible. A not too conservative (and yet still achievable) range will allow one to more realistically eliminate that which is clearly out of reach while at the same time leave open a wide enough field to come close to finding one's ideal property.
Location is a question of both the buyer's individual requirements and the characteristics of the particular locale. The buyer's requirements relate to how one intends to use the property. For example, the resident buyer requires a property in either close proximity or with easy access to one's place of work, whereas the vacation-home buyer would be more concerned with proximity to leisure and recreational facilities.
Characteristics of the particular locale relate to environmental issues, such as in what surrounds the property or lies nearby. Do other buildings obstruct or enhance views? Do open spaces exist at all and are they attractive or an eyesore? Are there sufficient transportation options and are these a convenience or an annoying source of noise and pollution? Are skies clear or hazy, are there natural breezes and is there sufficient greenery?
What about issues of personal security? Details like these cannot be understood by simply viewing a sales brochure. In fact, many brochures present a misleading image of calm and aesthetic charm in the areas surrounding their developments, while often these are merely conceptual illustrations with little basis in fact.
In order to really understand the environmental setting one must be able to examine the actual site and its surroundings as well as gather information on planned future development in the area. The following provides such descriptions and offers comparisons, first on the Dubai Marina as a whole, then on the immediate vicinity of the MAG 218 Tower.
The Dubai Marina vs Other Dubai Locations
Although it is impossible within a brief presentation to provide a detailed comparison of the various locales around Dubai where freehold property is available, one can highlight what the Dubai Marina has to offer with some incidental comparisons.
Since its inception, the Dubai Marina has been planned as a residential and leisure community defined by a very urban dynamic. It contrasts with most of the villa developments around the city which are primarily sub-urban in nature. It differs also from the nearby Jumeirah Lake Towers development (similarly urban) which in place of the leisure component adds more of a business and commercial element, in conjunction with its residential focus. Other new developments like Business Bay and the Burj Dubai's new and old towns are set to focus even more on the business and commercial element.
The focus on leisure within the Marina suggests that one will find perhaps as many tourists out on streets in the evening as residents. This would make the Marina somewhat similar in nature to the Jumeirah Palm and other island developments off the coast which will also focus on holiday and leisure activities. However, these more exclusive developments will most likely have a higher ratio of tourist to resident occupant. Meanwhile, the Marina will also offer convenient access to the rest of the city with dedicated roads, highway interchanges and bus and rail services, most of which have already been announced with construction begun or soon to begin. The island developments, due to their deliberate focus on exclusivity, may mean a difficult commute to work for working residents. On the other hand they would certainly offer a more relaxing holiday experience.
The Cost of Living
Will the Dubai Marina be an expensive neighborhood? Probably yes, but so will nearly all of the other new urban developments. It will, of course, be cheaper than the island developments, and more convenient in terms of commuting and shopping than the villa developments. International City will probably be the only new district in Dubai to have cheap establishments for eating and shopping similar to that in the city's older districts of Deira, Bur Dubai, Karama, Satwa, etc.
Will the Dubai Marina be too urban--as in being over-crowded with buildings. pedestrians and road traffic? Probably not, as the marina waterway itself will add a sense of space and openness. The promenade along the marina will be expansive enough to accommodate a lot of pedestrian traffic and this along with a wide choice of transportation options--including perhaps water taxis--will tend to keep road traffic down. Signs are, however, that there will not be adequate parking for visitors and most towers seem set to provide sufficient parking for residents, but very little for guests. The remaining open spaces in the Marina are not likely to be spoilt with open parking facilities.
The nearby beach (most of what is available fronts the Jumeirah Beach Residences), will most likely be inundated with crowds, especially on more pleasant, cooler days. This is due to the dense cluster of towers which make up the Jumeirah Beach Residences--nearly 40 in all ranging in height from 25 to 45 storeys. A high percentage of residents there will probably be vacationers whose primary objective will be to spend time on the beach! So despite its proximity to the Arabian Sea, the ability of the Dubai Marina to offer good beach access will probably be spoilt by this over-built project.
How many people will live in the Marina? One can only guess as it is a question of how large and how many towers will eventually get built--estimates are around 200, including the JBR. Also a consideration is how many units will actually be sold and what percentage of them will be occupied by end users--either owner-residents, renters or the staff whose companies provide accommodation there. Speculation goes well above 100,000 total inhabitants. But if sales are low or fewer purchases end up in the hands of end-users then the numbers could be significantly lower. By way of example, the MAG 218 tower will be of above average size for a Marina towers, with a mix of 550 1- and 2-bedroom apartments. One might project a total resident population of well over 1000, were the tower fully sold and occupied by end users.
Conclusion
The advice for those considering the MAG 218 is that they consider whether the Dubai Marina is suited to the kind of lifestyle they prefer and can afford. Perhaps a suburban setting would have more appeal, or one may want to have more of the convenience that a real business district has to offer. Not yet mentioned are two even more expansive developments to be completed in the more distant future--one the multi-themed Dubai Land and the other, the Dubai Waterfront, a coastal and river-based project. The Waterfront will probably include some elements of the Dubai Marina, perhaps on a larger scale, along with a variety of other components, while Dubai Land will be centered around recreational, educational and entertainment parks and sporting venues. The most objective comparison to be made with these developments is that construction within the Dubai Marina will be mostly complete by the end of 2008, whereas these newer developments will probably be right in the heat of things at that time.
In the next section a closer look will be taken at the particular environmental features in the vicinity of the MAG 218. How does it compare to adjacent and more distant towers in the Marina--in terms of location.
Please proceed to The MAG 218 Environment
Return to MAG 218 Community homepage.
posted by B.D. at
2:37 AM
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