Jumeirah Lake Towers
About Jumeirah Lake Towers
Jumeirah Lakes Towers (JLT) is a unique development that comprises both residential and commercial projects. This 200-hectare development was planned in order to create a perfect harmony between businesses and residents, which it has successfully achieved.
Located just across from Dubai Marina, the residential towers make up 45 percent of JLT, 21 percent are dedicated to commercial office use, and hotels, restaurants, and retail outlets make up 34 percent. The residential towers range from 35 to 45-storeys, except for the 66-storey centerpiece, and are organized in 26 clusters listed in alphabetical order (from A to Z). This architectural marvel surrounds intertwined man-made lakes: Lake Alma West, Lake Alma East, and JLT Lake.
The wide selection of apartment styles, amenities, and accessibility makes this an extremely popular location for all kinds of residents, families, and singletons alike. All along the waterfront, there is a plethora of outdoor restaurants, cafés, grocery stores and play areas for children, all within walking distance for residents.
JLT is known for creating a community where people can enjoy both tranquility and a healthy, active lifestyle. The waterfront areas surrounding the lakes allow for strolls or jogs and buildings also provide gymnasiums, saunas, and pools.
Location of Jumeirah Lake Towers (JLT)
JLT is located approximately 30 minutes away from Dubai International Airport (DXB). It should take about 5 minutes to get to Sheikh Zayed Road, although you may need a bit more time during rush hours. If you are heading to Dubai Media City, the business hub of the city, it will take about 10 minutes by car, while DIFC is about 20 minutes away. Finally, you can reach Downtown Dubai in roughly 20 minutes, depending on the traffic.
Jumeirah Lake Towers (JLT) is Ideal For
Living in JLT provides a relaxed atmosphere and access to a number of amenities that appeal to both families and young professionals. The community comprises various high-rise buildings, making apartments the main type of housing for rent. Tenants in this area can pick from a range of different floor plans since the towers are built by various developers. Such options include studio flats, 1-bed to 4-bed apartments, and 3 and 4-bedroom penthouses.
Transportation in and around Jumeirah Lake Towers (JLT)
JLT offers direct access to Sheikh Zayed Road, making the rest of Dubai easily accessible. Residents can take advantage of the many taxis in the area or use public transportation with two metro stations; DMCC Metro Station located near Cluster D and Sobha Realty Metro Station near Cluster S. Additionally, two feeder buses, JLT1 and JLT2, travel throughout the area providing convenient transportation options.
Entertainment Options in and around Jumeirah Lake Towers (JLT)
JLT is a vibrant neighborhood located on the east side of Sheikh Zayed Road, with a relaxed atmosphere and a wealth of services and amenities. Residents benefit from the convenience of having clinics, pharmacies, a vet, retail shops, beauty salons, groceries, and supermarkets all along the waterfront promenade. Nearby, the Dubai Marina Mall offers a huge selection of international stores for the cosmopolitan crowd, while the Mall of the Emirates and Ibn Battuta Mall are both just a short drive away.
Foodies are especially well catered for in JLT, as the neighborhood is a dining hotspot with a wide range of cuisines from Vietnamese to Greek, New Orleans soul food to Sri Lankan. Some of the popular restaurants in JLT include Mythos, Wokyo Noodle Bar, Bait Maryam, and Cafe Isan, as well as SCAFA, a culinary institute and restaurant in Cluster I. The area also has a few licensed venues, such as Jazz at Pizza Express in Cluster A, Nola’s Eatery and Social House in Cluster P, and the lounges and bars in the Bonnington Hotel in Cluster J.
Although JLT does not have its own beach, the nearby JBR Beach is just across the road and can easily be accessed by a short taxi ride or via the metro station bridge. JBR Beach offers its own amenities and facilities, making it an enjoyable day out.
Schools and Educational Institutions in and around Jumeirah Lake Towers (JLT)
Parents of children of nursery age will discover that JLT has numerous nurseries. Several clusters have their own nursery, including two branches of Dewdrops Nursery, two of Learning Ladders, Paddington Nursery, Kid Kare Nursery, Oakfield Early Learning Center, and many more - which explains why the area is so popular among young families.
The nearby area of Al Barsha has several renowned schools, including the well-respected Kings School Al Barsha and the American School of Dubai. Moreover, Emirates International School is only a short drive away from The Meadows.
Older students will find that living in JLT comes with the benefit of higher education options. The area is home to two universities - Modul University in One Tower, opposite Cluster G, and the Dubai campus of Synergy University in Cluster I. In addition, Knowledge Park, which is across JLT, has several universities that offer various internationally accredited courses.
Healthcare Facilities in and around Jumeirah Lake Towers (JLT)
There are a range of medical clinics in JLT, such as Dr K Medical Center DMCC, Dome MedDental Clinic, Armada Medical Centre, Optimum Diagnostic Clinic, and German Dental Clinic. People can also find other health-related services in JLT, such as the Scandinavian Physiotherapy Centre and Dr Batra’s Homeopathy Clinic. If you need a hospital, Mediclinic Meadows is located in The Meadows, while Al Barsha contains Saudi German Hospital and Al Zahra Hospital.
RENTING PROPERTY IN JUMEIRAH LAKE TOWERS (JLT)
The cost to rent a studio in Jumeirah Lake Towers begins at AED 25,000, while 1-bedroom apartments start from AED 42,000. The cost of renting a 2-bedroom flat in JLT is typically around AED 80,000, and the price range of 3-bedroom flats is from AED 99,900 to AED 270,000. If you are interested in renting a 4-bedroom apartment in JLT, you can expect to pay approximately AED 155,000 to AED 300,000 a year.
Saba Tower is one of the most sought-after buildings for renting apartments in JLT. It is a complex featuring studio, 1, 2, and 3-bedroom apartments. The price range for renting studio apartments in Saba Tower varies from AED 30,000 to AED 45,000. Other popular apartment towers include Jumeirah Bay X1 and Armada Tower.
BUYING PROPERTY IN JUMEIRAH LAKE TOWERS (JLT)
For those looking to purchase property in Jumeirah Lake Towers, there are options for studios, 1-bedroom, 2-bedroom, and 3-bedroom flats. The lowest purchase price for studios starts from AED 452k and the highest price for a 4-bedroom flat is AED 2.9M. Additionally, Se7en City in Cluster Z offers studios and 1-bedroom apartments ranging from AED 385k to AED 1M. Other popular buildings for buying apartments in JLT include Green Lakes and Saba Tower.
Popular Buildings in Jumeirah Lake Towers (JLT)
Research has revealed that Jumeirah Lake Towers is home to a number of high-rise buildings, some of which are the tallest in the region. Those who are interested in renting or purchasing an apartment in JLT should look into the most popular buildings, which include New Dubai Gate, Icon Tower, Goldcrest Views, Lake View Tower, and Lake City Tower.
New Dubai Gate 1 is a 42-storey building, standing at 151 meters. It has 592 apartments and 30 retail shops, with studios for rent at an average of AED 31k. New Dubai Gate 2 is a 35-storey building with 442 apartments ranging from 1 to 3 bedrooms. 2-bedroom apartments for rent are priced upwards of AED 37k annually and to buy one, a price between AED 510k and AED 1.1M is applicable.
Icon Tower is a twin tower with studio, 1, 2, and 3-bedroom units. A 1-bedroom apartment for rent will cost between AED 31k to AED 45k and to purchase one, the price starts at AED 550k. Goldcrest Views is the third most popular building, followed by Lake View Tower and Tiger Properties' Lake City Tower.
Hotels in Jumeirah Lake Towers (JLT)
Those planning a short visit to one of the popular communities of Dubai may want to stay in Jumeirah Lake Towers and explore the many hotels located there. The Bonnington Hotel is a five-star luxury hotel located in Cluster J and boasts 271 service rooms equipped with modern amenities and facilities, as well as a range of fitness amenities, a salon, and a business center.
Movenpick Hotel, located in Cluster A is within walking distance of the DMCC Metro Station and offers 168 rooms, dining and entertainment options, a state-of-the-art spa, an outdoor pool, and meeting rooms. Taj Jumeirah Lakes Towers is another luxury hotel featuring an elegant ballroom and a Mediterranean-inspired rooftop pool bar and restaurant.
Pullman Hotel in Cluster T of JLT has an outdoor pool and gym for the convenience of guests, and Armada BlueBay Hotel is part of Cluster P as Armada Tower 2 and also offers a range of fitness and dining amenities.
GETTING AROUND JUMEIRAH LAKE TOWERS (JLT)
The newest craze to hit Dubai is escape rooms. People willingly lock themselves in a room and solve clues to find the key to the door. In JLT, there are two such places - Phobia Dubai is located in Cluster X and Escape Quest is in Cluster N. Those who are looking for an exciting experience can find it close to Dubai Marina and JBR, which are just a 10-minute drive away.
Those living in JLT are lucky enough to benefit from the pedestrian-friendly community that it offers. The JLT Park is especially popular with families due to the children's play areas and jogging tracks. For fitness enthusiasts, there are gyms in the residential buildings, dance and yoga studios, and boxing clubs. Beauty seekers can also find a range of spas and salons for both men and women. Lastly, the Swiss Art Gate is a great tourist spot for art lovers, as they can enjoy the work of local, regional, and international artists, as well as various art events.
UPCOMING ATTRACTIONS IN JUMEIRAH LAKE TOWERS (JLT)
In October, the JLT community celebrates Breast Cancer Awareness by participating in the Pink Walkathon. This is an annual event that raises money for cancer research and brings the community together. Besides the October event, there are various sporting events, a kid’s football tournament, and an outdoor art gallery that take place throughout the year. These events make JLT a great place to live, work, and play.
THINGS TO CONSIDER IN JUMEIRAH LAKE TOWERS (JLT)
Before deciding to move to JLT in Dubai, there are a few things to consider. In the past, traffic has been an issue, however, recent changes to the roads have made a significant difference. If you plan to drive, it's important to bear in mind that the area is a one-way destination, meaning that if you miss your turn, you will have to go all the way around again. It's also worth checking with your agent or landlord whether a parking space is included in the rent as these are not always available with each apartment.
How to choose the right property in JLT
Buying flats for sale in JLT is a great option for those who need to be near the business district of Dubai. With residential areas so close to the main business hubs, it eliminates the hassle of a long commute. Whether you’re driving or commuting, you can reach your destination in no time which is beneficial when you have urgent matters to attend to.
If you need some assistance with the legal aspects of buying real estate in Dubai, you can get in touch with Driven Properties who can help you meet the requirements quickly.
If you’re looking for 1-bedroom apartments for sale or you’re new to investing in real estate properties and need advice on buying properties in Dubai, Driven Properties can help. Our team of experts has the knowledge and experience to ensure you get the best return on your real estate investment. We can also help you find a residence, office space, or freehold property anywhere in Dubai.
Now, 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:
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.
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.
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 JLT
Visit Driven Properties and browse through the various available listings of JLT. 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 JLT 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.
Financing and Legal Considerations
Once you've found the perfect home in JLT, it's time to look into the different mortgage options available to you. Purchasing a dream house is an exciting journey that requires you to browse online listings, meet agents, talk to your friends and family, and visit the property in person. After you have all the necessary information, you can make an informed decision and go ahead with the purchase.
Here are the different mortgage types in Dubai:
- Fixed-rate mortgage: interest rate is fixed for a pre-agreed period (less than five years).
- Variable rate mortgage: Interest rate can change throughout the repayment period.
- Discounted rate mortgage: The interest rate is lower than the Emirates Interbank Offered Rate (EIBOR).
- Capped mortgage: Maximum cap is set before the loan term begins.
- Remortgage: Get a new loan on an existing mortgage or transfer the existing mortgage.
- Offset mortgage: Linking a traditional mortgage with one or more deposit accounts.
- Investment mortgage: Loan acquired to buy a property for investment.
- Non-resident mortgage: Available for non-residents of the UAE.
- Residential mortgage: Loan acquired by an individual to buy a home to live in.
- Commercial mortgage: This tool business owners use to buy a property for their business operations.
- Land/Construction mortgage: Loan secured to fund the land purchase, structure renovation, or construction.
- Mortgage repayment options: Interest-only repayments, Capital and interest repayments, Down payment, Mortgage life insurance.
Now, let’s have a look at how you can get a mortgage in Dubai through the following takeaways:
- Two ways of buying property in Dubai: cash or on a mortgage.
2. Eligibility criteria for a mortgage in Dubai:
- Be a UAE national or resident
- Be between the ages of 21 and 65
- Have a monthly income of AED 15K (salaried) or AED 25K (self-employed). Please note that the monthly income can vary between banks.
3. Documents required to apply for a mortgage in Dubai:
- A copy of your visa and passport
- A copy of your Emirates ID
- A salary certificate for proof of employment
- Proof of residence (copy of tenancy contract or DEWA bill)
- Pay slips and bank statements for the past six months
- The latest statements of your credit cards
Note: Non-residents seeking a home loan in Dubai must provide the following documents:
- A copy of your passport
- Your bank statements for the past three months
4. Step-by-step process of getting a mortgage in Dubai:
- Find a lender
- Choose the right mortgage for you
- Get a pre-approval letter
- Find your dream home
- Finalize your property purchase
5. Expats can buy property in designated freehold areas in Dubai, such as:
- Dubai Marina
- Palm Jumeirah
- Downtown Dubai
- Dubai Hills Estates
- Emaar Beachfront
6. Mortgage down payment depends on the purchase value of the property and the resident status. Expatriates can get a mortgage from lenders operating in the UAE, but conditions may apply. For example, expat investors can be expected to pay a minimum down payment of 20% to 25% of the mortgage value besides associated costs.
7. Takes around two weeks (around 10 working days) to obtain the final offer mortgage letter.
Worth mentioning that property ownership in JLT is available to both UAE nationals and non-UAE citizens. For those not from the UAE, there are specific regulations and guidelines established by the Dubai government and Dubai Land Department (DLD) in order to purchase properties in the designated freehold areas of Dubai, which includes JLT.
Furthermore, if you are a US citizen looking to purchase property in the UAE, it is important to bear in mind the country's expat-friendly taxation system. While the UAE does not levy tax on purchased property, expatriates must still consider any legal liabilities that may arise in their home countries. For instance, any earnings such as rental income, interest on savings, and dividend payments may be subject to tax in the United States. For this reason, it is recommended that you consult with a tax agent in your own country to gain a clearer understanding of any tax liabilities associated with foreign property purchases before making the decision to buy.
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FAQ on Jumeirah Lake Towers
Who owns Jumeirah Lake Towers?
CDM Smith carried out all infrastructure engineering design and construction supervision services for this 180-hectare development. Jumeirah Lakes Towers, which is located opposite Dubai Marina, is a 180-hectare development, which features a 20-hectare lake and 28 building clusters
Is JLT a freehold area?
Yes, JLT is a freehold area that offers apartments and penthouses for sale to UAE Nationals, expats and foreign investors.
Should I buy a Jumeirah Lake Towers apartment to invest or to live?
JLT offers a variety of choices when it comes to the apartments for sale. Buyers can choose between ready and off-plan apartments, furnished and unfurnished units and different configurations using floor plans in JLT. The apartments for sale in Jumeirah Lake Towers are also a good choice for those who want to be centrally-located, while still being able to easily access upcoming locations such as Dubai South and the Expo 2020 site. Whether you’re looking to buy a property for yourself or to invest, rest assured that you and your family will be happy.
Which are the popular towers in the Jumeirah Lake Towers?
There are 68 towers in JLT. Some jumeirah lake towers are currently under-development. Once they get fully developed, there will be more than 80 buildings in the community. If you’re on the lookout for an apartment in the heart of Dubai, JLT is one of the best options. jumeirah lake towers apartments have several types that range from studios, 1,2 and 3 bedroom flats. The most popular buildings in JLT include New Dubai Gate, Icon Tower, Lake Terrace and Lake Point Tower.
What makes Jumeirah Lake Towers attractive as a community?
JLT is a freehold area divided into 26 clusters. Each cluster has a mix of residential and commercial towers with hotels and restaurants. It’s one of the most popular neighborhoods in Dubai with an enviable lifestyle and stunning apartment buildings. JLT has parks, wide-open spaces, shops and plenty of other amenities.
Who Is The Prime Developer In Jumeirah Lake Towers (JLT)?
The Dubai Multi Commodities Centre Authority (DMCCA) is the developer of the Jumeirah Lakes Towers.
Which Metro Station Is Near Jumeirah Lake Towers (JLT)?
The station located closest to the Jumeirah Lake Towers Metro Station in Dubai is the Dubai Marina Mall station.
Do I Get The Public Transportation Facility In Jumeirah Lake Towers (JLT)?
Yes, you get the public transportation with two metro stations; DMCC Metro Station located near Cluster D and Sobha Realty Metro Station near Cluster S. Additionally, two feeder buses, JLT1 and JLT2, travel throughout the area providing convenient transportation options.
I Am Looking For Off-Plan Properties In Jumeirah Lake Towers (JLT). How To Access It?
The best way to access off-plan properties in Jumeirah Lake Towers (JLT) is to contact a real estate agent or broker specializing in the area. They will be able to provide you with information on available listings and can help you find the right property for your needs. Additionally, there are a number of websites and online platforms that offer listings of off-plan properties in JLT, including Property Finder and Bayut. You can also search online for listings of off-plan properties in JLT to view available listings and contact the seller or agent directly.
Is Jumeirah Lake Towers (JLT) A Good Investment?
Yes, Jumeirah Lake Towers, frequently referred to as JLT, is conveniently located both by road and by metro, making it a highly attractive investment option. There are a variety of interesting opportunities, such as the Golf Views program, and a range of luxurious hotels with some of the most well-renowned restaurants in the area.
Can Foreigners Buy Property In Jumeirah Lake Towers (JLT)?
Yes, JLT is a freehold district in the UAE that allows both local and international customers to purchase apartments and penthouses. It is a great area for those who want to live in the UAE and invest in real estate.