Culture Village in Dubai is an enormous development. The Dh342 billion project, managed by Dubai Properties, will combine flats, shops and restaurants. While the village part of the name may be somewhat misleading - we're talking 3.7 million square metres - the cultural claim has ample justification. The area will house the Museum of Middle East Modern Art, an amphitheatre for live performances, an exhibition hall, libraries and many other museums.
But it's not just the arts facilities which set it apart. There is another significant point of difference compared with similar large-scale developments: it is (relatively) low-rise. The architecture and design will be far more traditional, too - Arabic wind towers are being built on top of the buildings and cobbled walkways will be included, with souqs selling spices and traditional handicrafts. It will also be one of the most pedestrian-friendly areas in Dubai.
Yaqoob al Zarooni, the deputy CEO of Dubai Properties says, "The project is in the heart of Dubai looking over the legendary creek. This is where it all started, where the pearl divers maintained their boats. It has real sentimental and historical value to this part of the world. The aim of the project is to come up with something different that links back to our roots. Everyone is building towers now - we wanted to do something where if you're a tourist visiting Culture Village you can get a sense of our heritage and what Dubai was like 100 years ago. It's a way of passing our culture on to the extended world through our development."
In price order, the main developments in Culture Village are Sunland Group's hyper-luxurious Palazzo Versace, its D1 tower next door and the newly launched Nur development. There is also Dubai Properties' Babil. Property prices for this part of Dubai range from relatively expensive to seriously pricey - affordable this mostly isn't. The cheapest flat in the Palazzo Versace - where guests can dive into an enormous aquarium of tropical fish - starts at Dh13.57 million. The recently launched Nur is more affordable, starting at Dh5.3m for a two-bedroom, and D1 starts at Dh6.1m. Babil, which, when finished, will consist of four buildings - Magan, Rumelia, Petra and Babil, named after ancient Middle Eastern regions - starts at Dh1.8m for a studio; Dh5.8m for two-bedrooms.
Almost all flats in Babil have creek views and balconies, and all (including the studios) have separate dressing areas. The Nur flats come fully furnished, right down to the LCD televisions, bed linen and kitchen utensils, and the developer promises generous ceiling heights in the flats, private balconies and bathrooms with mosaic-tiled walls. The master bedrooms come with en suite bathrooms and most flats will enjoy views of Dubai Creek and Palazzo Versace.
Despite promises to keep this part of Dubai tower-free and low-rise, it seems that the planners couldn't resist just one high-rise. D1 measures 80 storeys and is modelled on the Q1 tower, also built by Sunland, on Australia's Gold Coast. The types of property available to buy in D1 at the moment are called "Sky Homes Residences", described as "penthouse-quality" flats that aren't really penthouses at all - they're actually found in the middle of the building - but they do have the top-whack fixtures and fittings you'd expect of the yuppie's property of choice. There will also be a private cinema, juice bar, swimming pool, gymnasium and 24-hour concierge in the development.
Culture Village will also be well-served by public transport, with its own stop when the Dubai Metro is up and running, meaning buyers don't necessarily have to take their car to work. If they are driving, the Business Bay Crossing runs parallel, so access to the airport and the rest of the city is straightforward. Alex Upson, a sales agent for Cluttons, says: "In my experience, what sells at the moment is new releases and anything in prime locations, and Culture Village has both strings to its bow. My clients are generally investors who only have to put down 10 per cent on a new release, and they then sell it before they have to make the second payment. If the development is closer to being built you have to pay more - 30, 40 or 50 per cent - so it's not attractive. That's why my investors prefer to pay for off-plan property that has just been released.
Culture Village is pricier than its neighbours because of build practicalities, he explains. "Developers aren't getting the same returns as if they had built a tall structure - so they are having to charge a lot more per square foot. There are also few properties with water views left for foreign ownership - and Culture Village and Dubai Lagoons will be in demand for that reason." The location is key, says Shirley Humphrey, of Harrods Estates, which is exclusively selling the Babil towers on behalf of Dubai Properties. "While Jumeirah Beach is lovely if you're going on holiday, if you work here this is better and far more accessible. One of the criticisms of the UAE is that it has forgotten its roots, and now this development is addressing that concern. Our experience selling this so far - and it's early days - is that our buyers are living in the properties themselves, rather than strict investment buyers. People who know Dubai want to live here, as it's bringing culture back to the city."
