Al Furjan Nakheel Villas & Townhouses  

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  • Why have prices fallen so much in Al Furjan?

     Oct 29 2018  Al Furjan Nakheel Villas & Townhouses  Villas  Nakheel

    Its been a rough 18 months for capital values in Al Furjan. Average prices for the townhouses & villas have declined by as much as 15 - 20% in some cases. Its a great time for the value conscious buyer to look at this community but its been rough for sellers to understand. The below are the key reasons why prices have fallen:

    1. Infrastructure development: the metro-line, which is now in an advanced stage, has been under-construction for nearly a year and a half - and this has caused congestion & accessibility issues. This has been a negative for many buyers visiting the community. However, it is important to note that that very metro-line will add immense value to Furjan as a community when it is completed next year.

    2. New supply: in 2014, Nakheel launched the third phase and delivered this phase in 2017. These units were sold at 2014 prices but by the time of delivery, the market had fallen considerably. The developer also had about unsold stock. The result was a large number (nearly 300 properties) entering the market, this of course impacted the rental market considerably.

    3. Nakheel have been attempting to sell unsold stock in phase 3 on a 5 year payment-plan since mid-2018 with limited success. While the units offer quality, the price points are still at 2014 levels and hence have only attracted a limited buyer pool. Buyers can easily find better value in the existing two phases from the secondary market.

    4. The delivery of Dreamz by Danube in mid-2018 further added 90+ quality units to the market place further pressuring capital & rental values.

    5. The ongoing construction of mid-rise buildings mainly by Azizi has also been a negative in terms of the privacy of certain parts of Furjan as well as noise pollution.

    6. Overall correction in the market is also a factor; however, as prices have declined in other key communities along with the above factors, Furjan has become less desirable.

    7. Agents gone wild. Furjan is a good example of how unscrupulous practices by real estate agents can negatively impact a market. This area is particularly notorious for multiple listings, fake listings, click bait marketing which has hurt seller interests.

    We believe that the turn around for this community will be in late 2019. By this time a few major events would have taken place: firstly, the metro-line will be completed; second - the road infrastructure that connects Furjan to MBZ Road will also be completed, third - most of the residential buildings would have been completed and future supply would be in check.

    Furjan offers immense value for a buyer right now. As an example, a 3 bedroom indepenent villa is now for sale in the Dubai phase for just AED 2.5 million (from a peak of AED 3.5 million in 2014), this equates to about AED 750 per sq. ft. which is a phenomenal price point for an independent villa. There are other examples of good buying opportunities here.

    For more information on investing in Al Furjan, please contact +971564087616


  • 3 bed townhouses and 4 bed villa in Al Furjan on a post-completion payment-plan

     Aug 28 2016  Al Furjan Nakheel Villas & Townhouses  Villas  Nakheel

    Al Furjan Phase 2 which consists of 146 four bedroom villa and 223 three bedroom townhouses is now nearing completion.

    There are a handful of units available for sale by the developer (Nakheel) on a post-completion payment-plan.

    A buyer would pay 40% down-payment followed by 15% on handover (November 2016). The remaining 45% is payable by four installments spread through 17 months.

    4 Bedroom villas have prices ranging from 4.98 - 5.59 million

    3 Bedroom townhouses have prices ranging from 2.99 - 3.13 million.

    Viewings can be arranged in advance.

    To learn more about purchasing in Al Furjan, please contact +971-50-7086765


  • Nakheel Villas in Al Furjan: Q4 2015 Review

     Jan 10 2016  Al Furjan Nakheel Villas & Townhouses  Villas  Nakheel

    Nakheel's Al Furjan villas continue to be among the most under-valued freehold villas in Dubai at the moment.

    This is a bit of a surprise as Al Furjan offers quite a number of advantages to potential buyers including (a) it is located off Sheikh Zayed Road (b) it is Nakheel's highest quality villa development to date (c) the community is mature, occupancy rates are high (d) retail and other amenities are not far away (e) traffic congestion has diminished considerably since 2014 due to improved road works.

    The best value can be found in the 5 & 6 bedroom villas. These are spacious units offering a price per sq. ft. much lower than anything else you can find.

    For example, there is at least one 5 Bedroom villa currently in the market priced at AED 3.9 million - which is a phenomenal deal. This unit is a corner Type B with a built up area of 4,562 sq. ft. and plot size 6,500 sq. ft. That is a price point of AED 854 per sq. ft. There is nowhere in freehold Dubai where that price can be achieved (unless we go into the Mira development by Emaar).

    All in all, we think Al Furjan is a great buy right now. For buyers potentially looking at 3 or 4 bedroom villa options in Meadows, Jumeirah Park or communities along Mohammad bin Zayed Road (Arabian Ranches or The Villa) should definetely consider looking at Al Furjan where they can achieve more value for money.

    Al Furjan prices will also appreciate. A metro-station is planned that will connect Dubai to the Expo 2020 site. This infrastructure will be ready within 3 - 4 years. Continued RTA work will ensure even better entrance/exit points.

    To learn more about purchasing in Al Furjan please contact +971-50-7086765


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