The Greens still is one of Dubai’s most preferred communities
Residents benefit from lifestyle amenities and top-notch maintenance
One of the first freehold housing communities in Dubai, The Greens has always been a favourite of homebuyers and tenants alike. “The Greens is one of the few established communities that still offer peaceful surroundings,” says Rakesh Mirchandani, CEO of RNR Real Estate. Here he offers more insights into the area. Tells us about The Greens.
The Greens, a large mixed-use community developed by Emaar Properties, was first launched in 2001. The initial phase consisted of 40 low-rise residential buildings divided within 10 clusters and the first phase was completed in 2003. It was one of the first freehold residential developments in the city. These apartment blocks consisted of five floors only. After their completion and due to an increasing demand, the Views followed by the residential towers were built. The towers are known as The Golf Towers, The Links Towers, The Fairways Towers,
Panorama and Mosela and Tanaro. These residential towers overlook and offer spectacular views of the 36-hole Emirates Golf Course and the lake, which is surrounded by walking tracks or pathways. What makes the community so attractive?
A buyer not only looks for a nice home but also a self-contained community that will offer a comfortable lifestyle. Choosing a good community is extremely important when deciding to buy a home. Essential factors that the buyers would consider are multiple entry and exit points to ease the traffic flow; the proximity to key locations, including schools and offices; recreation facilities and entertainment; medical facilities and shopping, dining options and coffee shops. The Greens is one of the first family-orientated and pet-friendly communities. It has its own retail centre with supermarket, restaurants and coffee shops. The Greens Souk has a laundry, bookstore, photo studio and pharmacy among other outlets. All these features determine the value of the investment. What about the sale and rental prices?
The average house prices in theareadifferbetweenthelowrise buildings and the highrise towers. The studio-type apartments are priced around Dh500,000-Dh550,000 and rental prices are in the range of Dh35,000-Dh40,000 per year. This equates to an annual gross rate of return of 7-8 per cent.