The luxury high-rise project known as the Jumeirah Lake Towers is located on a different area from Dubai Marina. It has 80 buildings that are constructed around the edges of three lakes.
Jumeirah Lake Towers is very popular among individuals due to its convenient location and access to various areas in the UAE. Some of these include the Sheikh Zayed Road and the JBR Beach. Residents can also access the Skydive Dubai, The Walk JBR, and the Dubai Marina.
Two metro stations are located in this area: the JLT and the Damac Properties. These stations are directly connected to the Dubai Marina tram lines. One of the stops for the Expo 2020 metro line is the Nakheel Harbour interchange.
Over the past couple of years Jumeirah Lake Towers has been regarded as one of the most promising real estate markets in Dubai. Its proximity to major areas such as the Dubai Marina and the JBR Beach, as well as its relative affordability, make it an ideal area for investors.
The prices have increased by 21.5% to reach a total of AED 997.2 PSF from the previous year. Due to the significant investment into the areas such as JBR and Dubai Marina, many investors started to out-price others. JLT has also emerged as a popular choice due to its proximity to major commercial and tourist hubs.
In 2021, the number of JLT transactions reached a record high of 2,454. The demand for residential properties will continue to grow, especially in the ready segment.
Through the first 9 months of this year, JLT has recorded 1,721 sales transactions worth of over AED2 billion, while 577 mortgaged transactions valued at almost AED896 million.