Jumeirah Park - JP

AED 1,169
-3.55%
-5.34%
-8.46%
95%
-3.39%
4.84%
Historical Price Change of Villas in Jumeirah Park - JP

These are the average Vital Stats for Jumeirah Park - JP for 2017 Q2.
You can dig deeper and analyze data for individual properties in Jumeirah Park - JP under Transaction Prices and Historical Data.

Jumeirah Park is a villa community located right behind Jumeirah Lake Towers and bordering Jumeirah Islands and Meadows. Developed by Nakheel Properties, 7 out of 8 districts (villa enclaves) within Jumeirah Park are completed except for Legacy Nova which is expected to be delivered through early 2017.

Property Types Available: Villas, Residential Plots
Location: Sheikh Zayed Road
Status: Ready, Under Construction
Year Launched: 2006
Year Completed: 2013
Developer: Nakheel
Title Type: Freehold
Quality Classification: High-end
Life Cycle: Mature
Ready Villas: 2,046

Jumeirah Park Legacy Nova Buyer Guide - September 2016

 Published on Sep 21 2016   4,231 Views

 Source: LOOKUP.AE

 Category: Investment Guide

Jumeirah Park Legacy Nova is a villa enclave in Jumeirah Park that consists of 4 bedroom villas.

The project was launched in 2013 and completion is scheduled for Q4 of 2016.

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About Jumeirah Park - JP

Please note: Jumeirah Park is one of the 60 major communities in freehold Dubai where Lookup.ae reports quarterly prices. We track all property types within Jumeirah Park and this data can be viewed in more detail under this section's Transaction Prices and Historic Data sections. Data for Legacy Nova enclave of Jumeirah Park is reported separately.

General Guide

  1. JumeirahPark (JP) is located behind Jumeirah Lake Towers and next to Jumeirah Islands. As of Q4 2016, Jumeirah Park consists of 2,046 ready 3, 4 & 5 bedroom villas. Only one enclave within Jumeirah Park is still under-construction - the Legacy Nova 4 bedroom villas which are expected to be delivered in late 2016 and early 2017.
  2. Jumeirah Park was put on-hold following the global financial crisis of late 2008. The project was revived in 2011 and the first handovers started taking place in 2012.
  3. Jumeirah Park was by far the most actively transacted villa community in Dubai during the recent real estate upturn witnessed between 2012 - 2014. Between 2011 and Q2 2014, average capital values in Jumeirah Park increased by an astounding 86%. Many investors were actively involved in flipping property and a number of bulk purchases took place.
  4. Starting in early 2015, prices in Jumeirah Park underwent a correction. From their highs achieved in early 2014, prices have corrected an average of 19% (as of Q2 2016). Overall, the community is much more stable and almost entirely end-user driven.

Property Types

5 Bedrooms: Are located in District 1 & 2. The 5 bedrooms all have a built up area of 4,689 sq. ft. and plot sizes range between 8 - 9,000 sq. ft. (though there are a few units with extra large plot sizes). The 5 bedrooms come in two styles: Legacy & Regional. Almost all the 5 bedrooms come with a swimming pool pre-built by Nakheel. There are a handful of lake facing 5 bedroom villas in District 2.

Standard 4 Bedrooms: are located in District 3 & 4. The 4 bedrooms all have a built up area of 4,335 sq. ft. and plot sizes range between 7 - 8,000 sq. ft. (though there are a few units with extra large plot sizes). The 4 bedrooms come in two styles: Legacy & Regional. Almost all the 4 bedrooms come with a swimming pool pre-built by Nakheel. There are a handful of lake facing 4 bedroom villas in District 4.

Smaller 4 Bedrooms There are some smaller 4 bedrooms located in District 8. These units were launched by Nakheel in 2012 and completed in 2015. These are modified 4 bedrooms (basically are 3 Bedroom Small units with an extra bedroom). These modified 4 bedrooms are smaller (about 3,400 sq. ft. in size). Plot sizes are generally smaller on average - 5,400 - 5,600 sq. ft. although there are a handful of units with larger plot sizes.

3 Bedroom Large:Located in District 6 & 7. The 3 Bedroom Large units all have a built up area of 3,527 sq. ft. and plot sizes range between 5,500 - 7,000 sq. ft. (though there are a few units with extra large plot sizes). The 3 Bedroom Large units come in three styles: Legacy, Regional & Heritage.

3 Bedroom Small: Located in District 5 and 8. The 3 Bedroom Smalls all have a built up area of 3,063 sq. ft. and plot sizes range between 5 - 7,000 sq. ft. (though there are a few units with extra large plot sizes). The 3 Bedroom Smalls come in two styles: Legacy & Regional.

Legacy Nova: located in District 9. In June 2013, Nakheel launched 450 units of Legacy Novas which are also modified 4 bedrooms with built up areas of 4,100 sq. ft., terrace areas of 700 sq. ft. and plot sizes ranging between 5,500 – 6,000 sq. ft. This was an exceptionally good launch with all units selling out within the first few hours of launch. The opening price and payment plan were particularly attractive. These are available on 3 year payment plans and delivery is scheduled for Dec 2016 through Feb 2017.

Residential Plots: In July 2013, Nakheel sold about 40 residential plots in Jumeirah Park; all plots were sold out within the first couple of days of launch. Buyers of these plots must build to exact Nakheel specifications – 3 Bedroom Large units. Based on current feasibility, these appear to be an attractive proposition for small developers. The plots are located mainly in District 4 and 6.

Infrastructure, Amenities & Other Developments

  1. The main entrance to the community is behind Jumeirah Lake Towers and a second access is from behind Meadows / Jumeirah Islands – which also gives home-owners here access to Emirates Road and Al Khail Road.
  2. In 2015, RTA completed a new highway which links Jumeirah Park with Mohammad bin Zayed Road.
  3. Plantation work is in full swing and the community will be greened tremendously in coming months.
  4. In April 2014, Nakheel announced its plans to develop a shopping mall in Jumeirah Village Triangle. According to press releases, this will be a 1 million sq. ft. retail destination featuring a 15 screen cinema, 80,000 sq. ft. hypermarket and an entertainment area, a department store and a selection of retailes, restaurants and cafes. This mall will serve Jumeirah Park, Al Furjan and other nearby communities.
  5. On September 8th, 2014, Nakheel announced the opening of the Jumeirah Park community center - called the Jumeirah Park Pavillion. This is a 10,600 sq. m facility which consits of 28 retail outlets including a Geant Easy supermarket as the anchor.

Positives of Jumeirah Park - JP

Negatives of Jumeirah Park - JP

Amenities of Jumeirah Park - JP

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