Please note: This section reports on Jumeirah Village Circle, a master-community which consists of several sub-communities. Jumeirah Village Circle is one of the 60 major communities in freehold Dubai where Lookup.ae reports quarterly prices and other vital stats. We track prices of Nakheel villas & townhouses, residential plots and provide transaction price ranges for the apartment & townhouse developments by private developers. This data can be viewed in more detail under this section's Transaction Prices and Historic Data sections.
Jumeirah Village Circle (JVC) is an emerging master-community of Dubai. As of January 2016, this community has anywhere between 95 - 110 projects in total with at least 75 - 80 that are completed. There is a lot of undeveloped land that remains in JVC and therefore, most observers believe that this community will only reach a period of maturity past the year 2020.
JVC was launched in 2005. The community is organized into 6 districts (Districts 10 - 16). All Districts (except for District 16) have the same plotting and characteristics. Between 2006 - 2008, dozens of projects were launched in JVC by renowned and first time developers. Launch prices for property in JVC in 2006 were about AED 500 - 600 per sq. ft and by late 2008 primary and secondary market prices had reached over AED 1,300 per sq. ft. When the market crashed in late 2008 and early 2009, most projects were put on-hold and only a handful of developers continued work.
Starting in 2010, some projects started to get delivered - like Le Grand Cheatuea, Mirabella and Diamond Views. As the market started reviving in late 2011 and early 2012, many deliveries started taking place and many other stalled projects were revived.
JVC has come a long way from the lows experienced in early 2009. Today, close to a hundred individual projects are completed in the community and while there are significant pockets of undeveloped land in the community, few doubt that these will gradually be developed.
Jumeirah Village Circle is one of the few communities in Dubai where all property types are available:
There are two villa communities within JVC both developed by Nakheel. In District 16, there are about 300 two bedroom villas which were completed in 2013. These units are renowned for their extra large plot sizes. In the center of JVC, there are about 90 four bedroom villas which Nakheel launched in 2012 and delivered in 2015. There are no other villa developments planned in the community, however, in 2012, Nakheel did sell a number of G+1 residential plots to investors. These have now been delivered and allow for the owner to build standalone villas. These plots are scattered throughout JVC.
In JVC, Nakheel developed about 400 one and two bedroom townhouses in District 12. These were all completed in 2013 and this part of JVC is mature. At the same time, since the launch of JVC, a number of G+2 (ground plus two storey) plots were sold to private investors / developers who in turn have developed several rows of townhouses throughout JVC. These rows of townhouses typically have anywhere between 8 - 15 units and are all built over three levels. Most of these row townhouses have 3 or 4 bedroom options and a handful even have 5 bedrooms.
As of January 2016, there is only one major recognized office building in JVC called Prime Business Center (a Grade B building). As there are many undeveloped plots in JVC, in the future we may very well see developers react to market demand and build office space. In the past few years, developers have launched mainly apartment, townhouse and hotel serviced apartment projects.
Since the market revival in 2012, a number of hotel serviced apartment projects have been launched by major developers in JVC including Damac (Vantage & Constella), The First Group (The One by Ramada Plaza) and SKAI holding (Suites in the SKAI).
Nakheel sold 97 G+1 residential plots in different areas of JVC where individuals could build their own villas. These have been one of the highest transacted property types in the community since 2012 and prices have more than doubled since their announcement. As of January 2016, several such villas have been completed and many more are under-construction.
These are classified as plots that developers can buy and build on. There are G+2, G+4, G+8, G+10, G+19 and G+unlimited plots available in JVC at various market prices. As this is one of the few communities where future construction can take place, commercial plots are regularly transacted.
Pricing & Buying Guide
- As of December 2016, there are between 90 - 100 individual developments within Jumeirah Village Circle. There are at least 65 - 75 ready projects. Every Quarter, Lookup.ae reports general price ranges for Apartments, Townhouses, Villas and raw land in JVC. We provide the price ranges by studying Dubai Land Department transaction data and conducting dozens of interviews with expert Estate Agents operating in the community.
- For Villas and Townhouses we report on all of Nakheel's own communities located in District 12, 16 and the center circle. We also report price ranges for 3 & 4 bedroom townhouse blocks that are constructed by private developers.
- There are dozens of ready and under-construction apartment projects and almost all of them are classified as mid-end. There are only a handful of projects in JVC which are classified as high-end. We report price ranges for studio, 1 and 2 bedroom apartments for mid-quality developments.
- In JVC there are several different plots available for development (almost all existing projects are by third party developers who purchased plots from Nakheel. Almost all the raw land in JVC is owned by private investors / developers. These lands are available to purchase. The types of plots available in JVC include G+1 (villa plot), G+2 (townhouse plot), G+4, G+8, G+unlimited (tower / mixed-use plots). Every quarter we track transaction price ranges only for G+1 & G+2 plots per sq. ft.
Infrastructure, Amenities & Other Developments
- In April 2014, Nakheel announced its plans to develop a shopping mall in Jumeirah Village Circle. According to press releases, this will be a 500,000 sq. ft. mall featuring a cinema, large supermarket and a variety of retailers, restaurants and cafes. We will report more on this as Nakheel releases plans.
- In Q3 2016, Nakheel announced that two new entrances to Jumeirah Village Circle where opened along Hessa Street, further improving accessibility to the community. This brings the total no. of entry/exit points to JVC to a total of 4 (the other two are along Al Khail Road).
- Nakheel: Nakheel is the master-developer of JVC and have developed four villa & townhouse enclaves in the community. All plot planning permissions are also routed through Nakheel's Engineering & Planning departments.
- Diamond Developers: have developed four large townhouse & apartment complexes in JVC (Diamond 1, 2, 3 & 4)
- Fortis: have developed 8 G+2 townhouse developments in JVC called Mirabella (Mirabella 1 - 8)
- Damac Properties: have developed three major apartment communities (Emirates Gardens 1 & 2 and Tuscan Residence). Currently building two major hotel serviced apartment projects.
- Indigo Properties: have developed 8 G+2 townhouse developments across JVC.
- AB Properties: have developed 6 G+2 townhouse developments in JVC
- Westar: have developed 5 G+2 townhouse developments in JVC
- Al Faraa Properties: have developed three major projects including Le Grand Chateau, The Manhattan and Mulberry Mansions.