Dubai International Financial Centre (DIFC)

About DIFC

DIFC, Dubai's business hub and the leading financial center for the Middle East, South Asia, and Africa, comprises tall, high-end buildings, wide streets full of professionals with suitcases, and entrepreneur meetings in top-class restaurants or cafés. This is typically the vibe that hits you once you cross the Gate, the impressive main entrance of the DIFC Dubai area.

This area has much more than the typical fancy business square that appears from the surface. Instead, it's a mixed-use community providing a high-end residential area full of shopping, leisure, and service options besides its business hub.

A splendid avenue lined with the best restaurants in the city and the top names in the world, you will be able to have an exceptional dining experience and try the flavors of the best kitchens from different parts of the world. In addition, the area is full of pleasant surprises of stunning scenery and fantastic art pieces that would catch your eye wherever you look.

The underground space of the Gate is called the Avenue, and it's a marketplace of luxury brands and high-end global shops. It's considered the lavish mall in the area. But again, in DIFC, there is always more to the thing than you expect. The mall could be viewed as a significant art exhibition with many galleries and ateliers it hosts. DIFC Dubai may be the favorite place for art lovers, as it is for professionals.

The area is a complex of tall buildings and skyscrapers that contain the offices of more than two thousand active registered companies. In addition, some luxurious residential buildings are surrounded by manicured green areas and open spaces.

Preferred By

The neighborhood best suits those who prefer living in a vibrant environment in urban city life. It can be the perfect haven for professionals who work in the area or nearby. The community offers several elegant studios and 1-bedroom apartments—the most sought-after type of residences by single people and young couples.

On the other hand, the area is very well served with different kinds of facilities that families consider essential, making it suitable for them.

Transportation

DIFC is performing well in terms of transportation, as there are two metro stations within walking distance from the neighborhood, besides the availability of taxis and several bus lines.

DIFC's location is conveniently close to the city's attractions and central areas. It's only a 6-9 minutes drive to Downtown Dubai. You can easily use the metro from one of the closest metro stations, the Financial Center metro station and Emirates Towers metro station to Burj Khalifa/ Dubai Mall Metro station to find yourself in the city's center in less than 5 minutes.

Entertainment

With the shops and galleries you can visit, the stunning streets and squares you can walk and stroll, and the events or street bands you can catch, you will never get bored in DIFC. Nonetheless, when you seek a change of scenery, all of Dubai's attractions are within reach of you. You can visit Dubai Downtown anytime to enjoy an opera show or Dubai Mall and its marvelous fountain as it's just 5 minutes away.

Schools and Education Institutions

DIFC provides some nurseries and preschools for the youngsters, so families with kids can rest as they won't need to go elsewhere for school pick-ups. The older kids can follow school and high school in one of the nearby areas, 5-10 minutes away.

Some of the closest schools and preschools to the residential area:

• Hummingbird Preschool DIFC

• Best Kidz Nursery

• GEMS Wellington Primary School

• London Business School Dubai Center

 Health Care

Several health care centers like clinics and hospitals are available in DIFC, so you don't have to go far for check-ups or in case of emergency. The closest ones are the IMC Medical Center, La Clinique DIFC, and The Clinic. Al Zahra Medical Center is also less than a 15-minute drive away, and so is Interhealth Canada Limited. You can also reach Oriana Hospital in just around 20 minutes.

 Buying property

DIFC is close to leisure and work centers at the same time. This has contributed to attracting the attention of buyers to buy apartments, where you will find a wide range of apartments for sale in DIFC, all with modern and high-end designs. It has all the services and amenities you want at prices commensurate with the quality of the equipment and its significant returns. You can choose from a studio, a two-bedroom apartment, a three-bedroom apartment, and a luxury penthouse.

 The average price of a two-bedroom apartment for sale in DIFC is AED 2,25 million. Studios for sale in DIFC may reach AED 1.3 million. The prices vary based on several criteria, such as the number of rooms, spaces, and towers you want to live in and the views you choose.

 These apartments are equipped with modern facilities such as high-end restaurants and cafes, many retailers, malls and international brands, famous hotels and resorts, museums, art galleries, fitness and beauty centers, sports clubs, parking lots, and shops.

 Renting property

DIFC is ideally located close to most places, markets, and vital trading centers within Dubai, such as Sheikh Zayed Road, Dubai Mall, and Burj Khalifa. That attracts many tourists and buyers from around the world.

 You will find extensive options of apartments for rent in DIFC, ranging from studios, one-bedroom apartments, two-bedroom apartments or three-bedroom apartments, villas, luxury penthouses, and many more.

The average rent for a one-bedroom apartment can be around AED 80,000, and for two-bedroom apartments up to AED 118,000.

 Many people want to live in DIFC, because it is considered a commercial center with a range of hotels, luxury exhibitions, restaurants, and quality rental apartments. Those mentioned meet the expectations of all customers looking for a high-end lifestyle full of leisure options from health centers, restaurants, shops, supermarkets, parking, fitness, and beauty centers.

 Popular buildings

DIFC is known for its luxury residential apartments and buildings. One of the most famous buildings is the Index Tower DIFC Dubai, one of the top 6 buildings in DIFC, in addition to Park Towers and Sky Gardens Tower.

 Hotels

There are many luxury hotels in DIFC, such as The Ritz-Carlton DIFC, a 5-star hotel offering high-end services such as fitness centers and luxury restaurants with glamorous views. And also, there is the Four Seasons Hotel which has all the benefits and facilities visitors need for a comfortable stay, from restaurants, luxury facilities, and swimming pools.

 Getting around

DIFC provides an upscale lifestyle for individuals and families. You'll find everything you fancy, from high-end restaurants, cafes, retailers, and malls with many international brands and popular hotels. There are also several museums, art exhibitions, fitness and beauty centers.

For example, the Gate Building is one of the essential features of DIFC because of its unique and high-end design, making it the best option for holding exhibitions.

 Many famous restaurants include Bento, which serves the most delicious Japanese meals, ShanghaiMe, La Petite Maison Healthy Meals, and Royal China Restaurant.

 The closest beach is JBR Beach. There are also many options for museums and galleries, like The Arts Club and Andakulova Gallery.

 Upcoming attractions

DIFC is one of the most important commercial destinations in Dubai. When you stay in Dubai, you can carry out many tourist activities such as attending art exhibitions or visiting luxury restaurants. This vast project is expected to nearly triple in size by 2024, when the number of residential areas, office space for work, and leisure facilities will increase. It is moving towards more funding and facilities by the Government of Dubai and other organizations.

 Things to consider

Those living in DIFC Dubai enjoy many perks. However, there are some things to consider when moving to DIFC, such as traffic congestion. The lack of options for schools nearby also makes it an undesirable choice for families with school-going children.

Lifestyle and Amenities in DIFC

There is no shortage of dining options in Dubai International Financial Centre. There are a variety of restaurants to choose from, serving a wide range of cuisines. ShanghaiMe and La Cantine du Faubourg are two popular outdoor restaurants with a friendly atmosphere. Gazebo offers authentic North Indian cuisine, 1762 The Gourmet Deli Co. offers healthy food options, and La Petite Maison offers French delicacies. For Asian cuisine, there is the Royal China Restaurant and the Japanese Zuma Restaurant. Miyabi Sushi and Bento are good options for Japanese restaurants in Dubai on a budget. There are also several other international options, such as Beefbar, Al Mandaloun, Dusty’s, and more.

If you are on a gluten-free diet and have a sweet tooth, Healthy Patisserie in DAMAC Park Towers is a great option for vegan desserts in Dubai. Coffee lovers will also find a home here, with Caffe Bateel, Costa Coffee, Caffe Nero, Mercato, Panifico, and Caribou Coffee all located in DIFC. These cafes are great places to catch up with friends, get some work done, or simply relax.

In DIFC, you will have a great time as the region is home to some of the best galleries in Dubai. The Empty Quarter is a gallery that exclusively features fine art photography from internationally renowned and established photographers. The Arts Club is also worth noting. It is a London-based club that has its first international outpost in this area, and it is a favorite among literature and art aficionados. Andakulova Gallery showcases contemporary visual art from Central Asia, while Christie's is a gallery of extraordinary art that has held some of the most famous auctions. In addition, there are several more galleries in DIFC that you can explore. The most popular gallery is likely to be the spectacular and internationally renowned Opera Gallery.

Gate Avenue is a popular fashion and retail destination. It has many shops, including Sacoor Brothers, Suit Supply, Black Amber, His and Hers, Fiori Jewels, and Collars and Cuffs. In addition, residents of DIFC can easily satisfy their shopping needs as it is only 8-10 minutes away from the city’s expansive shopping and leisure complex – The Dubai Mall.

The community has a variety of exciting retail outlets. For high-end Italian fashion and accessories, there is the Fendi Dubai Mall Flagship. The Flower Boutique sells flowers and ornamental plants. Momentum Dubai and Rivoli DIFC Dubai sell watches, while ALIEL sells fine jewelry.

Real Estate Market Trends

RENTAL TRENDS IN DIFC

Apartments in DIFC are available for rent in a variety of sizes and prices. Studios start at AED 55k per month, while one-bedroom apartments start at AED 74k. Two-bedroom apartments are available for rent for around AED 105k, and three-bedroom apartments start at AED 145k.

SALES TRENDS IN DIFC DIFC

DIFC offers studios for sale ranging in price from AED 900k to AED 1.8M. You can also buy one-bedroom apartments in DIFC for AED 1.3M to AED 2.8M. Two-bedroom flats for sale are available for AED 1.3M to AED 5.4M. Three-bedroom apartments in DIFC are available for purchase in the price range of AED 2.4M to AED 14M. Four-bedroom penthouses for sale in DIFC are available in the price range of AED 29.5M to AED 45M.

Studio apartments in the DIFC have the highest ROI of 8.81%. 1-bed units generate about 7.75% return on investment, while 2-bed units offer an ROI of about 6.66%. The ROI of 3-bed units averages 5.46%.

How to choose the right property in DIFC

Dealing with unprofessional real estate agents can be an inconvenient and frustrating experience for buyers, sellers, tenants, and landlords. From not returning calls to showing you a property that doesn't match its online listing, these situations can make it hard to find a true professional. To help you find a reliable real estate agent or property developer, here are some tips to consider:

1. Before engaging with a real estate agent, it is important to ensure they are employed by a reputable real estate agency. Do some research to determine how long the business has been operating in Dubai and if they have earned any business awards. Companies that are highly esteemed often provide thorough training to their consultants to give them the necessary skills and knowledge to be successful.
   
   
2. The Dubai Real Estate Regulatory Agency (RERA) was founded in 2007 to control the Dubai real estate market. As a result, RERA is in charge of authorizing all real estate operations, such as licensed real estate agents. You can confirm if your agent is RERA certified by taking a look at his profile on property websites. The BRN number should be visible. If it's not, you can just ask the agent directly.
   
   
3. Real estate agents who specialize in a particular area are invaluable. They have the knowledge and expertise to understand the unique features that make your property and neighborhood stand out from the rest. As your agent continues to work in the same area, their area knowledge will grow and they will be better equipped to represent your property.

Step-by-step guide to buying property in DIFC

Visit Driven Properties and browse through the various available listings of DIFC. Then look at the transaction records to know what community is popular or the service charges per community or project. In addition, the filters on our user-friendly website help to tailor the selection according to your requirements.

Once you have contacted one of our DIFC specialists and selected a property to invest in and spoken to the seller, the next step is for the buyer and seller to agree on the terms of the sale through a Memorandum of Understanding (MOU) signed by both parties. When signing an MOU, the buyer has to pay a deposit for the property, which is generally calculated to be 5% to 25% of the property value. Then a No Objection Certificate (NOC) needs to be issued from the developer, after which the Dubai Land Department (DLD) will transfer the ownership. Finally, the respected banks must get involved if an investor considers getting a mortgage.

Future Developments

The development is set to triple in size by 2024. As per the DIFC 2.0 plan, which was approved by Dubai’s ruler His Highness Sheikh Mohammed Bin Rashid Al Maktoum in 2019, the expansion of the neighborhood will be carried out in multiple phases. The expansion will include new residential projects, retail space, office space, and leisure destinations.

Notable Landmarks

The Gate is the most prominent landmark in DIFC, and the adjacent Gate Village is a hub for art galleries and fine dining. Al Mandaloun, one of Dubai's top group-friendly eateries, can be found here. Right beneath The Gate is the Marble Walk, which offers takeaway meals, essential services, and retail convenience. The Balcony, a terrace surrounding The Gate with casual dining options, is another notable feature. Additionally, Gate Village 4 and 6 feature some of the best private dining restaurants in the city, including Gaia and Hutong.