If you’re a buyer looking to invest up to Dh40 million in an Emirates Hills villa, you’ll no doubt do some research into the area.
You may even have searched the internet and found a recent article in The National that pointed to a steep decline in values at the cheaper end of the community such as The Springs and The Meadows; a recent Cavendish Maxwell report suggested average prices in the former dropped by 18 per cent last year – the biggest fall of any villa community in Dubai.
The reason cited is that buyers seeking villas can get more for their money elsewhere, including at Emaar Properties’ own Dubai Hills scheme, which is tempting potential investors further afield. It offers a similar community feel with plots that are currently about two-thirds cheaper per square foot.
Yet the greater expense of properties at Emirates Hills is a sign of its popularity.
A ReidIn/Unitas report published last month stated that plot prices at Emirates Hills had increased more than tenfold since their launch, outperforming any other retail asset in Dubai, and the gap in values between the cheapest and most expensive villas has doubled over the past six years, as the most expensive locations are sought after for luxury development.
Location, of course, plays its part. As Lindsey Redstone, the head of residential sales and leasing at Core UAE, an associate of Savills, points out, the communities within the wider Emirates Living area are very different, with The Springs and Meadows being smaller, standardised properties that were all built by Emaar Properties, while Emirates Hills homes sit on much larger plots and are bespoke in their design.
This lake view villa in Sector E is a good example of this. A contemporary, 15,000 sq ft property on a generous plot close to the 18-hole Montgomerie championship golf course, it contains six bedrooms and 12 bathrooms and is on the market for Dh39.5m.
It has full-height glass windows in all of the main living areas, allowing for lots of natural daylight to stream through. It also has two family rooms, two living rooms, a pair of kitchens and an office that could be converted into a seventh en suite bedroom, if required. There is also a basement area with a nursery and a gym, separate maid and driver’s quarters, a private swimming pool and private gardens.
The villa has been decorated with Travertine marble throughout and the kitchen has been fitted with Miele appliances. It also has CCTV cameras installed.
Q&A
Lindsey Redstone, the head of residential sales and leasing at Core UAE, explains the attraction of living in one of Dubai’s more expensive locations:
Who would want to live in a house like this?
Discerning buyers who won’t compromise on quality and style. The community appeals to entrepreneurs, bankers, industrialists and prominent families with a strong regional presence.
What's the biggest 'wow' factor in this house?
The master bedroom, because of its size and how it’s tailored to both his and her needs with the wardrobe space and bathroom features.
How would you describe the style of this property?
Elegance personified, with neutral tones the general theme throughout. The canvas of the property makes it versatile to all styles of furniture, fixtures and fittings.
What are the neighbours like, and what sort of facilities are available nearby?
The neighbours value their privacy and extend the same courtesy to their neighbours. A golf course, members club and idyllic parks and pathways add to the charm of this area.
Is Emirates Hills still popular?
Its popularity will not wane, as it is considered the area of choice for high net-worth individuals who seek quality and anonymity. The properties are all bespoke, with distinguishable features such as basements, lifts, swimming pools, bowling alleys, walk-in wardrobes and cinemas.
mfahy@thenational.ae
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