Text: Irina Malkova OUR DAYS, ALL MORE AND MORE WORLD LUXURY REAL ESTATE COMPANIES OPEN ITS REPRESENTATIONS IN DUBAI. VERZUN - INTERNATIONAL BOUTIQUE AGENCY FOR ELITE REAL ESTATE - WORKS IN DUBAI ALREADY FOR MORE THAN 10 YEARS. WE TALK WITH HIS FOUNDER, PHILIP VERZONO, ON THE MOST PERSPECTIVE AREAS OF THE CITY AND WHERE IT IS WHERE TO BUY VILLAS AND HOUSES IN EMIRATES.
Philip, first of all, what does your agency specialize in?
Philip: We specialize in the search for upscale housing in leading cities and resorts in the world. Our portfolio of offers includes exclusive properties that are not put on the market by their owners. These are villas, estates, chateaux and penthouses from the most famous designers of the world, as well as famous and historical residences. The main directions are London, Paris, Monte Carlo, New York, Vienna and Dubai.
What do you see as the main attraction of real estate in the United Arab Emirates?
Philip: Firstly, this location - it is quite easy to get to the Emirates from anywhere in the world. Secondly, and this applies more to the Russian people, there is no time difference with Moscow. Thirdly, which is especially important for those who live in the northern latitudes, the sun shines 365 days a year in Dubai. And finally, all conditions are created here to satisfy the most demanding requirements of any customers.
Which areas for buying an apartment or house in Dubai are considered the most privileged?
Philip: To begin with, the most expensive area for real estate today is DIFC (Dubai International Financial Center). Following are The Palm Jumeirah, Downtown Dubai, Dubai Marina, and if you are looking for a large house or villa for housing - this is Emirates Hills. If you are interested in buying a penthouse, then about 10-12 ready-made hi-end class residences are put up for sale today, the cost of which ranges from 20 to 40 million dirhams. Penthouses are in the area of Dubai Marina, and in the DIFC, and in Downtown Dubai.
The trend is that, after living in Dubai for about 4-5 years, many people want to rent or buy a villa, not apartments.
Philip: Yes, especially if you came here with your family, the best decision would be to purchase a villa. In areas such as Emirates Hills, which promises to be one of the most promising time), for a reasonable price you can buy a 3-4-bedroom villa with a rather large plot of land. Further attractive areas are such areas as Dubai Sport City and Motor City, which in the future, with a new road junction, will become more attractive for investment and more comfortable for living.
What about buying villas on The Palm Jumeirah?
Philip: Of course, real estate on this island is still in great demand, but today people are looking for more spacious and more modern villas from the point of view of design. Not standard small residences that copy each other, but designer-designed residences, which, of course, are not so many there.
But there are other areas that deserve attention, for example, the Al Barari district, which is attractive primarily for its parks, green spaces and rather large tracts of land. Most often, the emirates themselves or expats, who have lived here for quite some time, buy houses there. So if you are not confused by a little remote location and you have no problems with transport, then this area I can also recommend.
If you want to profitably invest in real estate that will be relevant in a few years, pay attention to the areas where construction is currently underway - these are areas around Downtown Dubai, Mohammed Bin Rashid City, where about 500 villas are currently under construction, as well as Jumeirah Golf Estates. If you are looking for the house you want to live in now, I would recommend the areas of Emirates Hills and Jumeirah Islands, which are located behind the JLT (Jumeirah Lakes Towers), as well as The Palm Jumeirah.
Dubai or Abu Dhabi?
Philip: Still, Dubai. I will explain why. So far, social and cultural infrastructures are more developed here, there is a wider choice of schools and other educational institutions for children, and the sphere of services and entertainment is more varied. The development of Abu Dhabi, of course, is taking leaps and bounds, and every year it delights us with new fantastic projects and shopping centers. But still, the center of life of the Emirates, and, possibly, of the entire Middle East, is Dubai.
