JBR appeal wanes as construction work bothers residents
Residential area drops to 10th in ‘most searched’ locations on residential property website
House seekers in JBR have been put off by the continuous construction work going on around the development.
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Disruptive construction and traffic jams have seen renters turn away from living in Jumeirah Beach Residences, a popular local real estate website has said in a report.
www.propertyfinder.ae says that “JBR’s charm appears to be gradually fading” after it dropped to 10th from 7th in the site’s ranking of the most searched locations to rent a property in the city of Dubai.
“Ongoing construction projects around the area have dampened the appetite of possible tenants,” says Renan Bourdeau, the managing director of the firm.
“Major road construction work has resulted to traffic build-up, as well as the loss of beach access and views of the sea for residents – two of JBR’s unique selling points. Because of these, it has been rather difficult to entice potential tenants to look into renting a property in the area,” he said.
The residential area is also lagging behind when it comes to customers looking to purchase, rather than rent, with the website also ranking it at 10 in terms of locations people are searching for.
However, Bourdeau said that while the region isn’t faring well at the moment, the future prospects for the area look bright.
““Over the past years, the area has attracted considerable investments not only from property developers, but also from hospitality and retail investors as well. By 2014, a 5,000-square-metre boutique mall – The Beach – is expected to rise in JBR, featuring over 40 food and beverage outlets, retail shops and entertainment facilities.”
“Another mixed use development, the $1.63 billion man-made Bluewaters Island project, is also being constructed off the coast of JBR, which will offer additional accommodation, hospitality, retail and entertainment options to Dubai residents. All of these will hopefully help in shifting the trend and driving tenants and homebuyers back into the JBR area in the foreseeable future,” he added.
