Villas and condominiums set around championship courses are not just for golf enthusiasts. These communities represent a special segment in real estate owing to the big add-on to their tangible value, namely the rolling lush fairways or the golf courses they are built around, and the considerable bonus they append to their residents’ lifestyle.
Developers in the UAE, particularly in Dubai, have realised this demand early and created some of the world’s best and most upscale golf communities, which have proven to be top sellers, be it for those purchasing a “dream home” or investors looking for significant returns.
“Integrated golf communities can create significant value for key stakeholders, including developers, investors, operators and residential real estate owners,” says Andrea Satori, global head for sports, leisure and tourism real estate at consultancy KPMG. “It is widely recognised that — when properly planned — houses alongside golf courses can help developers increase sales velocity and add a sales premium to real estate prices.”
There are several studies that have indicated that golf courses are second only to waterfront areas as the most desirable location for a housing community projects, according to Satori.
“That’s why buyers expect their golf property investment to provide a satisfactory return in its own right as well,” says Satori.
All this has proven right with regards to the UAE’s most established and upscale golf communities, namely Arabian Ranches, Emirates Hills and the Lakes by Emaar, Jumeirah Golf Estate by Istithmar World, Damac Hills by Damac (formerly Akoya) and Victory Heights by The First Group in Dubai Sports City. However, this list is far from complete when we take a look at all the upcoming golf communities in Dubai and other emirates, and other promising investment opportunities in golf housing developments in the wider GCC.
Akoya Oxygen
Akoya Oxygen, currently being built in Dubailand, is the latest golf community development by Damac after nearby Damac Hills with its Trump International Golf Club. Oxygen will span over 5 sq km, comprising a landmark tower called Golfotel with 2,000 luxury hotel apartments, a promenade offering high-end shopping, dining and entertainment, an artificial tropical rainforest, another golf course, the Trump World Golf Club Dubai, and some 1,000 luxury villas in phase one, with another 1,000 in phase two.
Damac has started the off-plan launch of eight themed villa compounds, namely Aurum, Aknan, Casablanca, Hajar, Biela, Play, Kenda and Mega, featuring three to five bedrooms. Prices start between Dh1 million and Dh1.6 million. There are also the Evo and MOD two-bedroom town houses priced between Dh600,000 and Dh700,000.
“Communities such as Akoya Oxygen attract residents and tourists who aspire to a certain lifestyle that only these integrated communities can offer,” says Niall McLoughlin, senior vice-president of Damac Properties.
Hussain Sajwani, chairman of Damac, adds that Akoya Oxygen is priced to attract both investors and end users. “Customers are seeking properties in premium locations and at an attractive price point, which provides better value to those seeking higher returns in investment and [those who wan to live] in a home that is part of a comprehensive lifestyle community.”
Dubai Hills Estate
This mixed-use development will have a series of unique neighbourhoods and retail around an 18-hole golf course as part of the first phase of Mohammad Bin Rashid City. The development is one of the largest in the city with a land area of 11 sq km and a green area of over 2.2 sq km, including a golf course and a central park. It will have a limited number of villas in different architectural styles and apartments to underline the development’s exclusivity.
The neighbourhood includes a luxury park, pool or lake view apartments in mid-rise buildings in Mulberry Park Heights, Acacia Park Heights and Park Point, as well as three- to five-bedroom town houses in the Maple district and three-bedroom villas in the Sidra district. Prices start at around Dh1 million for one-bedroom apartments, Dh2.2 million for Maple villas and around Dh3.2 million for Sidra villas. Another exclusive community is The Parkway, where investors can purchase large lots ranging from 1,000-1,200 sq m on a payment plan and have their villas custom-built.
“Dubai Hills Estate is one of the highly sought-after communities to meet the growing interest from international investors and for customers who wish to be part of a vibrant lifestyle neighbourhood,” says Ahmad Thani Al Matrooshi, managing director of Emaar Properties. “It brings a unique value proposition to Dubai serving as a green oasis in the heart of the city, only minutes away from Downtown Dubai and other business centres.”
Jumeirah Golf Estates — Redwood phase two
While the first phase of the Jumeirah Golf Estates, Redwood Park and Avenue, featuring three- and four-bedroom town houses, sold out quickly with the handover taking place in December, phase two is expected to be handed over in the fourth quarter. Prices start at around Dh2.9 million. There will also be a phase three, which will include a club house and a retail centre.
“Jumeirah Golf Estates has made remarkable progress in the past across our residential and lifestyle offerings as we cement our position to become the Middle East’s leading residential lifestyle destination,” said Abdul Aziz Bukhatir, corporate executive director of Jumeirah Golf Estates. Bukhatir also sees potential to attract investors from China and India. Jumeirah Golf Estates recently committed to be the host venue of the DP World Tour Championship until 2020.
Emaar South
Used to thinking in superlatives, Emaar unveiled last year Emaar South, a massive golf community project in Dubai South. Emaar South will feature six districts spanning over 7 sq km and feature some 15,000 apartments, town homes and villas around an 18-hole championship golf course with a club house. It offers both affordable and luxury options with prices at a “reasonable” level, according to Mohammad Alabbar, chairman of Emaar. The project will be developed in four phases, starting with villas, town houses and apartments along with retail precincts in the first phase, which should be completed by the end of 2019. There will also be educational institutions, as well as hospitality and retail zones.
“Through Emaar South, we are creating another world-class integrated community that is smart and sustainable and will generate long-term economic value,” Alabbar said.
Living Legends
Living Legends is a mid-market golf community development in Dubailand. Although it has been delayed for about six years, developer Tanmiyat Group managed to hand over the first 187 villas and apartments in June last year and is currently working on phase two. Overall, the residential projects situated around a nine-hole golf course will comprise 500 villas and 12 apartment towers with 2,600 units, as well as schools, clinics, a shopping mall, a five-star hotel and recreational facilities. Prices start at are around Dh600,000 for one-bedroom apartments and Dh3.9 million for a five-bedroom villa.
“[Living Legends] offers a tranquil living environment amid large areas of open green space and amenities, a wide range of attractive unit sizes and a healthy return on investment,” says Mohammad Bin Odah, CEO of Tanmiyat.
Saadiyat Beach Villas
Of Abu Dhabi’s handful of golf communities, the one around Saadiyat Beach Golf Club is regarded the most exclusive with the best location. The 18-hole course is one of the region’s first beachfront golf courses and features several beachfront holes in a course that weaves in and out of five-star hotels.
The villas and town houses, designed in Arabic, Mediterranean and contemporary styles, are widely regarded as one of Abu Dhabi’s finest addresses. They range from three- to six-bedders and are just a stone’s throw away from the many attractions in the Saadiyat Cultural District, educational institutions, and shops and restaurants in “The Collection” leisure mile. The Saadiyat Beach Villas are all sold and some are available for resale from Dh6.7 million to Dh20 million for a lavish six-bedroom villa. Off-plan buyers should take a look at the new development of Jawaher Saadiyat, a luxury gated community offering panoramic views of the Saadiyat Golf course. It is expected to be completed next year.
“Our residential projects on Saadiyat Island offer the promise of living in an inspired destination,” says Sufian Hasan Al Marzooqi, CEO of developer Tourism Development and Investment Company. “Through a showcase of architectural design and a variety of amenities, we aim to develop Saadiyat Island into a dream residential community.”
Al Hamra Village and Falcon Island
The completed town houses of Al Hamra Village around the Al Hamra Golf Course in Ras Al Khaimah and the new Falcon Island are the top golf properties to look for in this emirate. Al Hamra Village is located on the outskirts of Ras Al Khaimah and comprises around 4,000 residential units, five luxury hotels, the Al Hamra Golf Course, Al Hamra Marina and Yacht Club and Al Hamra Mall. Earlier this year, new apartments and villas came on the market with an affordable payment plan, according to Al Hamra Real Estate Development general manager Benoy Kurien. There is a wide pricing range from as little as Dh355,000 for a studio up to Dh7 million for a five-bedroom villa.
Falcon Island (pictured below), which was launched in 2015, will have 150 villas and a marina. The island, divided in two by a central canal, is designed as a sustainable community.
“In the off-plan phase we were selling out fast, which shows that there is real confidence in the Al Hamra Village brand and the local property market,” says Kurien.
Al Zorah
Developed as a freehold zone, Al Zorah is a premier mixed-use and hospitality development in Ajman that hosts the 18-hole Al Zorjah Golf Club. The developer offers 42 Al Zorah Golf Villas as part of the initial development. The golf community of The Fairways comprises the Golf Villas and the Golf Estates, which offers a choice of around 800 villas, town houses and apartments with views of the golf course, the lakes and the mangrove forest along a creek.
Al Zorah is set across 12km of waterfront and 1.6km of sandy beaches. There are two beach resorts, as well as marinas. The first phase was delivered late last year.
“Al Zorah enables 100 per cent ownership of business, land, villas and apartments and hassle-free establishment of business entities,” says Imad Dana, CEO of Al Zorah Development Company. “With such a privileged autonomous status granted by an Emiri Decree, Al Zorah is an ideal place to live, invest, establish and own businesses and properties and to set long-term life objectives.”
Firdous Sobha
An 18-hole golf course and a separate par-three course will be part of the huge Firdous Sobha resort development by Sobha Group in Umm Al Quwain. Announced in April last year, the mixed-use development on Al Sinniyah Island spans an area of 5 sq km. It will feature a luxury seafront and golf villa community, low-rise apartments, four to five hotels and resorts, retail zones, a marina, water sports centre, wellness spa and a man-made canals and lagoons. Sobha Firdous will be located alongside Khor Al Beidah, one of the largest areas of undisturbed coastline in the UAE, and will be connected by a bridge to the mainland.
“We have partnered with the Umm Al Quwain government and are jointly transforming the island into a world-class destination and hotspot for iconic properties,” says PNC Menon, founder and chairman of Sobha Group.
The construction of the first phase is expected to start in the second quarter next year and completed in three years. The entire project is expected to be completed by 2026. No off-plan sales have been launched yet.
Riffa Views
Bahrain’s landmark golf course is the Royal Golf Club in Al Riffa, the nation’s second largest city. With its 18-hole championship course and a par-three course, the club is also the centrepiece of Riffa Views, the island’s first luxury residential gated community and its first golf community comprising of town houses and villas.
Al Mouj, Oman
Al Mouj, formerly The Wave, is one of Oman’s largest premium residential and leisure development with an 18-hole golf course — the only one in Oman — and a par-three course. Situated along a 6km shoreline, it encompasses more than 4,000 properties, a marina, four premier hotels and retail, leisure and dining opportunities at the seafront.
Al Murooj Golf Community
Saudi Arabia’s new King Abdullah Economic City hosts the Royal Greens Golf Course, around which a number of golf communities with high-end real estate have been created. Considered among the most premium residential areas in the city, sales for three communities with a few hundred villas were launched in 2015.
Handover for the third community began last year with prices starting from 2.4 million Saudi riyals (Dh2.36 million).
