Real Estate

Jumeirah Village Circle: ‘Where the normal people live’

It might not have the glamour of the Palm but JVC has its own enduring appeal and was Dubai's busiest location for ready-home sales in 2024

January 6, 2025, 3:14 PM

People take part in UAE National Day festivities at the Castle Park, Jumeirah Village Circle in Dubai

It’s not the glitzy Palm, bustling Marina or stylish Business Bay.

Dubai’s most active district for real estate transactions is, and has been for several years running, Jumeirah Village Circle.

Built by master developer Nakheel beginning in 2005, JVC is essentially a massive roundabout tucked away from the coast on the east side of Al Khail Road. It is home to a couple of thousand freehold residential units, shops and restaurants, and well-regarded schools and healthcare facilities.

The right mix of location and pricing is what makes the neighborhood popular, according to Bass Ackermann, the property developer behind Hive, a co-living building in JVC.

“Especially for the younger demographic who tends to socialise in Dubai Marina, JBR etc, but can’t necessarily afford to live there – JVC is a great alternative due to its proximity,” he says. “For families, the affordability and range of amenities offer great value for money.”

Architecture, Building, Cityscape JVC is 'essentially a massive roundabout' but its greenery, shops restaurants, and well-regarded schools and healthcare facilities make it an attractive location — JVC is ‘essentially a massive roundabout’ but its greenery, shops restaurants, and well-regarded schools and healthcare facilities make it an attractive location

Guillaume Belanger, who manages Hive JVC, was new to Dubai in late 2019 when he started hearing about the neighbourhood as up and coming.

“When talking about areas such as JVC with people who are not familiar with Dubai, I like to say, that’s where the normal people live,” he says.

According to data shared with AGBI by real estate consultancy ValuStrat, in 2024 JVC was again Dubai’s busiest area for ready-home sales, the third year in a row it snatched the title. It has consistently been among the top five since clinching third spot in 2014.

JVC also had the most off-plan transactions in 2024 for the second consecutive year, after securing a spot in the top five for the past four years.

3,412

Number of ‘ready-home’ resales in 2024

In addition to being located near major thoroughfares, putting it within easy reach of many of Dubai’s main attractions and businesses, JVC counts on a wide range of units, from studio apartments to detached villas, to appeal to mid-income residents, says Haider Tuaima, ValuStrat’s head of real estate research.

“This variety caters to different needs and enables residents to upgrade within the community as their families grow without needing to move out of the master plan,” he says.

In the first half of last year, JVC was also the most sought-after location for renters looking for mid-tier apartments, according to real estate data platform Bayut.

Alwaleed Osman, a 34-year-old communications professional, just moved to JVC, where he rents a studio that is “huge” compared with alternatives in other neighborhoods, and is “great value for money”.

“I wanted to live in a suburban area but still not feel isolated from the city, and also wanted to move closer to my office location,” Osman says.

“JVC is a combination of everything – an eclectic mix of families and working professionals. It is quiet but not too ‘deserted’.”

The steady flow of renters into JVC has made the neighbourhood also attractive to investors seeking consistent yields, performance and gains, according to Firas Al Msaddi, the CEO of brokerage company fäm Properties.

If one looks at the resale segment of the ready-home market alone – thus excluding ready-home sales directly by developers – JVC came second to Dubai Marina last year, with AED3 billion in 3,412 transactions, data from fäm Properties shows.

“Early investors and developers who acquired land or built properties years ago are now capitalising on the rising market,” Al Msaddi says.

“These sellers are realising substantial profits, leveraging the fact that their costs of land and construction four to five years ago were considerably lower than today.”

City, Urban, Car There is a wide variety of housing stock in JVC, from villas to apartments; rents rose 10% year on year in the first half of 2024 — There is a wide variety of housing stock in JVC, from villas to apartments; rents rose 10% year on year in the first half of 2024

Concerns are growing about rising rents – up 10 percent year on year in the first half of 2024 according to Bayut – road congestion, lack of public transport and too much construction, with all the dust and disruption that go with it.

“The question crosses my mind sometimes,” says Belanger. “How is it going to look once every single plot will be built and occupied?”

For now, challenges remain manageable, says Mohammed Al Saif, a consultant who moved to the neighborhood a month ago.

“I hadn’t seriously considered JVC because of the traffic, but a few colleagues told me that the new bridge significantly cut this down,” he says. “I’m really glad I did as it’s not as bad as was made out to be in the morning.”

A two-lane bridge on Al Khail Road at the intersections of Al Khamila Street and Hessa Street opened in October, one of five the municipality is building to ease congestion along the motorway.

JVC “fills a gap between high-end, high-cost areas and older, less modern neighborhoods, providing a balanced lifestyle that appeals to a broad spectrum of buyers and investors,” Al Msaddi says.