Fashion's New Muse

31.07.2023

In an ode to architectural beauty, Women’s Wear Daily has profiled the Trussardi Residences by Mira Developments. Drawing parallels between high fashion and high living, the feature positions the development as a masterwork of style and substance.

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Mira Developments at MIPIM 2025Mira Developments is excited to take part in MIPIM 2025, one of the world’s leading real estate exhibitions, taking place from March 11 to 14, 2025, at the Palais des Festivals in Cannes.At our stand, we’ll be showcasing Mira Developments’ exclusive projects in the UAE, including Trussardi Residences and Mira Villas designed by Bentley Home, offering fully furnished apartments and villas in Dubai. We’ll also introduce Mira Coral Bay, the world’s first ultra-luxury waterfront community in Ras Al Khaimah, developed in collaboration with more than 10 global brands. Additionally, we’ll present POST Hotel & Residences by ELIE SAAB, exclusive apartments with Alpine views in Swiss Andermatt.As the premier event for real estate and urban development, MIPIM will bring together key industry leaders, including mayors of major European capitals such as Sadiq Khan (London), Roberto Gualtieri (Rome), José Luis Martínez-Almeida (Madrid), and Haris Doukas (Athens).The event will open with a keynote address by Mario Draghi, former President of the European Central Bank and former Prime Minister of Italy.Visit us at: Palais 4, P4. C2 — SCENE AMBASSADEURDates: March 11-14, 2025Time: 9:00 AM – 7:00 PMJoin us at MIPIM 2025 and discover some of the most exciting real estate investment opportunities in the UAE and Switzerland!

Freehold Property in Dubai: The Best Areas for Investment in 2025Dubai is a global real estate hub, attracting investors from around the world with its tax-free income, high rental yields, and wealth of luxurious and affordable properties. In 2002, freehold ownership of property by foreigners was introduced, dramatically changing the rules of the game for property investors. Freehold properties, offering full ownership rights, have become the preferred class of assets for international investors looking for long-term value, security, and high returns. This guide explores the best freehold areas in Dubai, highlights their unique features, and provides practical tips for making a smart investment.What is Freehold Property in Dubai?Freehold property implies full ownership of the property and the land it sits on.  In other words, it means the property is “free from hold” by any entity other than the owner.This concept, introduced in 2002 through Law 7 of 2006, allows foreigners to own property in designated freehold zones in perpetuity. Unlike leasehold properties, which offer rights for a limited period (up to 99 years), freehold ownership grants greater flexibility, including the ability to sell, lease, or pass the property to heirs without restrictions.Freehold vs. Leasehold in DubaiFreehold Properties:  Full ownership with no expiration date. Owners can renovate, lease, or sell without needing the landowner's consent.Leasehold Properties: Temporary ownership (up to 99 years). Land ownership remains with the freeholder, and major modifications require permission.Freehold properties are particularly appealing for investors seeking long-term stability and control over their assets.Top Freehold Areas in Dubai for InvestmentSourceLuxury Freehold AreasPalm JumeirahSourceKnown for its iconic palm-shaped design, a marvel of futuristic design, and advanced engineering, Palm Jumeirah offers waterfront villas, each villa enjoying its beach,  and high-end apartments. This area attracts high-net-worth individuals (HNWIs) seeking exclusivity and premium amenities, making it a luxury lifestyle enclave.The Palm’s properties include apartments, townhouses, hotels, and luxurious villas. Apartments are located on the Trunk, ranging from compact studios to spacious 6-bedroom layouts. Villas, situated along the Fronds, range from 4,000 to 35,000 square feet with 2 to 10 bedrooms.Downtown DubaiSourceHome to the Burj Khalifa, the world’s tallest building, Dubai Mall, the world’s most spacious mall, and a score of other architectural marvels, Downtown Dubai nowadays stands out as the gold standard of luxury and sophistication. Though not so long ago it was an abandoned military base, with the emirate’s oil revenue wisely invested, the area’s properties now are highly sought after by affluent buyers for their steady rental income and strong appreciation potential. Among the most prestigious addresses here are the Burj Khalifa, the Address Boulevard, Armani Residences, Opera Grand, and the Address Sky Views, each sporting a collection of ultra-luxurious penthouses, spacious duplexes, and state-of-the-art apartments. Emirates HillsSourceEmirates Hills, one of Dubai’s most expensive villa communities, is inspired by Beverly Hills, Los Angeles, and neighbors The Meadows, The Springs, and The Lakes. As one of Dubai’s first freehold areas, it offers expatriates the opportunity to own homes in the most prestigious setting. Many villas in the Emirates Hills encircle the world-class 18-hole course at Montgomerie Golf Club. Known for its exclusivity and privacy, it remains one of Dubai's most expensive villa communities.Affordable Freehold AreasJumeirah Village Circle (JVC)SourceJVC is a freehold master development divided into six districts, containing over 350 towers or townhouse rows and 33 landscaped parks. Popular among budget-conscious investors, JVC offers a mix of apartments and townhouses with high rental yields. Its central location and growing infrastructure make it an attractive option for young professionals and families.International CitySourceDiverse and the most affordable of the emirate’s locations, International City provides investors with opportunities to own budget-friendly properties with a strong ROI potential. Its multicultural community and proximity to key business hubs add to its appeal. Its residential clusters, named after Persia, Greece, Spain, Morocco, England, France, Italy, Russia, China, and the Emirates, reflect the area’s rich multicultural character.ArjanSourceA rising star in Dubai’s real estate market, Arjan attracts young professionals and families with its affordable housing options and proximity to parks and schools. The area is clearly set for strong growth. Among its attractions are the Dubai Miracle Garden and Dubai Butterfly Garden. The community comprises state-of-the-art mid-rise apartment buildings mingled organically with surrounding greenery. Mira Developments A fully-furnished luxury villa community, now available off-plan, ready for moving in in Q1 2026. The company offers spacious, fully furnished villas, the Mira Villas designed by Bentley Home. The exclusive community with a man-made lake is located within a 15-minute drive from Burj Khalifa. On the other end of the company’s spectrum are Trussardi Residences, a more affordable yet no less outstanding collection of conceptual apartments designed and elegantly appointed in collaboration with Trussardi, a brand known for timeless Italian elegance. Conveniently located near the Discovery Gardens metro station, the property offers flexibility in terms of getting around the city.Both properties present an excellent investment opportunity, with off-plan purchases offering strong potential for property appreciation, even in the short to medium term.Family-Friendly Freehold AreasArabian RanchesSourceArabian Ranches is an upscale family-centric community featuring spacious villas, green fully-landscaped spaces, top-tier schools, swimming pools, tennis courts, and gulf courses.  As one of Dubai's pet-friendly neighborhoods, it’s an ideal choice for pet owners.The Meadows and The SpringsSourceThe Meadows and The Springs are the neighboring family-friendly communities offering an active outdoor lifestyle. Located near Sheikh Zayed Road (E11), they provide easy access to Dubai Marina, Jumeirah Lake Towers (JLT), and Dubai Internet City. The Meadows features 3 to 6-bedroom villas, while The Springs offers 2 to 5-bedroom townhouses and villas, surrounded by gardens and lakes. Proximity to schools, such as Dubai British School, and the Emirates International School, and family-friendly facilities comes as a bonus.Dubai Hills EstateImage sourceThis master-planned community that balances luxury and convenience, enjoys a prime location between Downtown Dubai and Dubai Marina, and is easily  accessed via Al Khail Road. With schools, healthcare facilities, and recreational spaces, it offers an integrated lifestyle,  sporting facilities like jogging tracks, fountains, infinity pools, shaded reading gardens, and art installations. Among its unique features are the 18-hole championship golf course and 1.45 million square meters of parks and open spaces.Emerging Freehold AreasTilal Al GhafKnown for its sustainable design and modern villas positioned around a man-made lake, Tilal Al Ghaf is gaining traction as an up-and-coming investment hotspot. Early investments here could yield significant returns.Dubai SouthDubai South’s strategic location near Al Maktoum International Airport and the Expo 2020 site makes it a promising area for future growth. Affordable housing and commercial opportunities attract investors looking for long-term gains.SourceBenefits of Owning Freehold Property in DubaiFull Ownership AdvantagesFreehold properties provide full rights to owners, including the freedom to:Make structural changes and renovations.Lease or sell the property at will.Pass the property to heirs.These benefits offer investors long-term security and flexibility.High Return on Investment (ROI)Dubai’s freehold areas consistently deliver strong ROI, averaging 6-9%. For example:Palm Jumeirah: 5-7% ROI.JVC: ~8% ROI.Downtown Dubai: ~6-8% ROI.The combination of tax-free income, a steady and growing demand, and property appreciation ensures attractive returns for property owners.Lifestyle BenefitsFreehold areas in Dubai are famous for their world-class amenities, including:State-of-the-art fitness centers and swimming pools.Proximity to the world’s largest most sumptuous shopping malls and entertainment venues.Access to international schools and world class healthcare facilities.Additionally, as a bonus, properties valued at AED 2 million or more make owners eligible for long-term residency visas, including the coveted Golden Visa.Market Trends and ROI PotentialCurrent Real Estate Trends in DubaiDubai’s real estate market has shown remarkable resilience post-2020. Key trends include:Increased demand for larger homes due to hybrid work models.Growing interest in sustainable and smart properties.Rising rental yields across key freehold areas.Emerging Freehold Investment OpportunitiesAreas like Tilal Al Ghaf and Dubai South are gaining attention for their affordability and growth potential. Early investments in these neighborhoods could offer substantial ROI as infrastructure and amenities develop.How to Invest in Freehold Property in DubaiInvesting in Dubai’s freehold properties requires careful planning. Here’s what we suggest to get started:Define your goalsDecide whether you’re investing for rental income, long-term appreciation, or personal use.Set a budgetConsider all costs, including property price, registration fees, and maintenance.Research locationsChoose an area that aligns with your goals, whether it’s luxury living in Downtown Dubai or affordable housing in JVC.Consult expertsWork with reputable real estate developers like Mira Developments to find the right property and guide you through the buying process.FAQs About Freehold Property in DubaiWhat’s the difference between freehold and leasehold property?Freehold properties offer full ownership rights, while leasehold properties grant usage rights for a limited period (up to 99 years).Can foreigners own freehold property in Dubai?Yes, foreigners can own freehold property in designated areas, including Palm Jumeirah, Downtown Dubai, JVC, and others.What are the best areas to buy freehold property for families?Family-friendly areas include Arabian Ranches, Dubai Hills Estate, and The Meadows, known for their amenities and schools.How much ROI can I expect from freehold property?ROI varies by area but typically ranges from 6% to 10%, with areas like JVC and Downtown Dubai delivering consistent returns.TakeawayInvesting in freehold property in Dubai is a smart choice for those seeking high ROI, long-term stability, and access to a world-class lifestyle. Whether you’re drawn to luxury villas, affordable apartments, or emerging hotspots, Dubai’s real estate market offers opportunities for every investor. Begin your journey with Mira Developments to secure the perfect property tailored to your goals.

Investing In Dubai Real Estate: Benefits and Challenges of UAE Real Estate InvestmentBoth seasoned real estate investors and newcomers must weigh many factors when making investment decisions. While there is no universal yardstick to measure risks and benefits, one region stands out as a sure bet among the many investment options available.The real estate sector in Dubai is set to grow in the foreseeable future driving the influx of capital for years to come. Call it a safe real estate investor haven, investing in Dubai real estate ticks all the boxes as it provides a robust long-term return on investment in a unique regulatory environment that welcomes and protects capital. Image sourceStrategic government reforms and economic diversity further contribute to the emirate’s favorable investment climate. On the back of projected healthy 6,2 percent economic growth in 2025 and beyond, coupled with a limited supply, the attraction of luxurious living and more affordable accommodations in Dubai’s property market is here to stay. However, there are pros and cons associated with investing in Dubai real estate that we will try to highlight here.Benefits of Investing in Dubai Real EstateTax-Free Investment EnvironmentDubai offers a tax haven for individual investors and corporations looking to invest in Dubai real estate. First, the corporate tax is set at 10% for oil companies and 9% for non-oil businesses while companies in free zones enjoy a 0% tax. The 5% VAT is among the world’s lowest. A further boon is the zero capital gains tax on asset sales, whether real estate, crypto assets, or stocks. Among other perks are the free zones that allow 100% foreign ownership while exonerating resident businesses from taxation, tax holidays for new businesses, and beneficial tax regimes for companies in healthcare, education, and tech. The emirate’s tax-free real estate market provides a perfect environment for investors looking to realize long-term gains from the steadily appreciating property. Typically, prices of off-plan properties have historically risen by 10-30% between the purchase and completion. To further prove the point,  a one-bedroom apartment purchased in Downtown Dubai appreciated by 13% in just four years. Commercial real estate prices in prime business locations surged by 18% in 2024 alone. All this places the Dubai property appreciation rates among the world’s highest.High Rental YieldsOn top of steady long-term appreciation, Dubai real estate is blessed with high rental yields that an investor will struggle to find elsewhere. The emirate outshines Paris, and New York, offering a healthy 6-7% average return on villas and a staggering 12% on apartment rentals. London’s 4% pale in comparison. Interestingly, the smaller the property, the higher the yield tends to be.Image sourceStrategic Location and Global ConnectivityHistorically, ancient cities such as Alexandria, Venice, Constantinople (a.k.a. Istanbul), and Carthage, strategically located at the crossroads of world trade routes, thrived by leveraging their location and becoming the hubs of prosperity and innovation. Dubai is the modern-day hub that connects Europe, Asia, and Africa.The emirate’s status as the world’s strategic hub is hard-earned through the prudent allocation of capital Dubai amassed over the years of oil-driven prosperity. Iconic projects from Dubai Creek Harbour and Meydan City to sustainable landmarks like Dubai Sustainable City are turning the emirate into a hotspot for property investors as these developments enhance connectivity and livability while boosting property values.Among key infrastructure projects that have reshaped the city’s transport landscape are the expansion of the Dubai Metro and the development of Dubai-Al Maktoum International Airport. High-yield properties close to these hubs are in high demand.Image sourceAnother driver in Dubai’s property market is sustainability. Projects sporting green spaces and smart technologies draw eco-minded buyers seeking long-term value through investing in Dubai property. Tourism-focused developments, like Dubai Harbour, further propel demand for short-term rental properties, particularly in high-traffic areas like Dubai Marina and Palm Jumeirah.Government Support and Golden VisaThe emirate’s government supports real estate investors, including high-net-worth individuals, by offering the Dubai Golden Visa allowing long-term residency. Eligible investors must purchase property worth at least AED 2 million, whether completed, off-plan or leveraged. There is no minimum down payment requirement, and significant public investments or business partnerships meeting the AED 2 million threshold also qualify. Among key benefits for real estate investors are:Long-term residency (up to 10 years) with renewal optionsAccess to investor-friendly banking solutions, such as depositing AED 2 million for visa eligibilityStability and security for families, with visas extended to dependentsRobust Population Growth and Market DemandOver the last decade, Dubai’s expat population, now standing at 85% of the emirate’s total, has been rising steadily stoking the housing demand. Now home to 3,8 million people, the emirate’s population is projected to expand to 5.8 million by 2040, primarily thanks to expats. SourceThe effect on the housing and commercial real estate market is immense. In the last 16 quarters, for example, home prices have been on the rise, while single-family villas rents skyrocketed by 86% since early 2020.The acceleration of Dubai’s population growth from 2.66% in 2023 to 4.11% in 2024 may point at the beginning of a new growth phase.Diverse Property Options for Every InvestorThe emirate offers diverse property ownership options tailored to the needs of any investor type. Among them are freehold properties in Dubai, a class of real estate that individuals no matter the nationality, can own along with the land plot. These are located in special areas, such as Arabian Ranches, Jumeirah Park, and Emirates Hills Estates for villas. If a foreigner is looking to buy an apartment, the freehold areas would be Dubai Studio City, Arjan, and Discovery Gardens. Areas like Al Furjan, Motor City, and Dubai South offer both. For a detailed list of freehold areas, look here. Image sourceFreehold properties come in various shapes and forms, be it luxury apartments, family homes, waterfront villas, and more. Among the primary advantages of freehold ownership are full control over your investment, with no time limits or third-party approvals, and full freedom to sell, lease, alter, or bequeath.Potential Drawbacks of Dubai Real Estate InvestmentHowever, you can’t have the rainbow without the rain. There are certain challenges in Dubai property investments that investors have to face. Among them are:Market VolatilityThe emirate's property values are sensitive to shifts in currency changes, geopolitical tensions, and energy prices. These factors can affect the ROI in the short run, creating uncertainty for property owners and potential buyers.In the long run, the Dubai government has been working hard to cushion these fluctuations. The long-term visa programs, relaxed property laws, and tax incentives contribute to investor confidence and help keep a steady influx of capital into the market, offsetting potential dips caused by externalities. On top of that, the government’s wise focus on economic diversification—reducing dependency on oil revenues—has created a resilient real estate sector.However, when making an investment decision, investors are advised to do their homework and focus on high-demand locations and up-and-coming property trends like green and smart developments. Diversifying investments across residential, commercial, and sustainable projects can provide a safety net against probable risks.Regulatory and Legal ComplexitiesInvesting in Dubai’s real estate requires a thorough understanding of local laws, compliance requirements, and associated fees. Getting to know property ownership regulations, such as understanding the distinction between freehold versus leasehold rights, is critical. Seeking professional guidance from legal and real estate experts who can provide clarity and give sound real estate financials is highly advisable.High Transaction CostsReal estate transactions in Dubai come with significant costs that can eat into your returns. The 4% DLD registration fee, agency commissions, and ongoing maintenance charges can really add up. Investors should anticipate these expenses and work them into their overall investment strategy.Limited Liquidity of Real EstateUnlike stocks or bonds, real estate is a relatively less marketable asset. Investors seeking quick returns need to keep that in mind. A longer-term investment strategy and a focus on properties in high-demand areas can help mitigate this and ensure steady appreciation over time.Top Communities for Investment in DubaiDowntown Dubai - the emirate’s crown jewel, the epitome of luxurious vertical living, offering both high-end rentals and upscale quarters - penthouses and hotel apartments - for sale.SourceArabian Ranches - contrasting with Downtown, this is a suburban family haven with freehold two- to six-bedroom villas and townhouses, complete with amenities like schools, sport centers, and more.Meydan City - the gold standard of sustainable living, luxury real estate, and access to world-class entertainment and sporting events. Its developments include Mohammed Bin Rashid Al Maktoum City, District Eleven, Meydan Heights, Meydan Racecourse, and Meydan One, featuring the Dubai One Tower and Meydan One Mall. Strategically located and packing exceptional amenities, Meydan offers unmatched investment opportunities.Mira Developments offers a blend of designer elegance created in collaboration with Trussardi and Bentley Home. Trussardi Residences in Al Furjan, easily accessible by metro and nearby motorways, and Mira Villas designed by Bentley Home in Meydan’s District 11 offer fully furnished villas and mansions, bordering on a private lagoon.  Why Dubai’s Real Estate Market is a Solid BetDubai's real estate market has consistently demonstrated strong growth, with property prices showing a significant year-on-year increase of 20.71% in the first quarter of 2024. This trend testifies to the market's resilience and its unmatched capacity to rebound from global economic challenges, including the long-term impacts of COVID-19.The emirate's strategic initiatives, such as the Dubai Economic Agenda D33, further enhance its status as a global investment hub, attracting capital from regions like Russia, China, and India. Dubai's commitment to sustainable development coupled with architectural uniqueness appeals to a broad spectrum of eco-friendly and tech-savvy investors and residents of all demographics.Short-Term vs. Long-Term InvestmentsChoosing the Right Investment StrategyThe difference between a short-term flip and a long-term rental income is the same as between an affair and a marriage. It's all about a short-lived emotion or a  long-term commitment. Each strategy comes with its unique benefits and challenges, and choosing the right one depends on your financial goals and risk tolerance. Whether you’re in for the thrill or the commitment, knowing the pros and cons can help you make a smart investment decision. Short-Term FlipPros: Offers quick profit potential with fast turnover.Cons: High risk involved due to market volatility, which can impact returns.Long-Term Rental IncomePros: Provides steady cash flow and benefits from property appreciation over time.Cons: Requires ongoing management and maintenance efforts, which can add to costs and responsibilities.Tips for First-Time InvestorsHow to Start Investing in Dubai Real EstateTo get started:Get to know the difference between freehold and leasehold properties; freehold areas permit full ownership for expatriates, while leasehold areas offer long-term leases without full ownership rights. Budget for ancillary expenses such as service charges, registration fees, and maintenance costs, which can seriously affect your investment returns.Consider relying on professionals to navigate Dubai's dynamic real estate market effectively. Mira Developments offers personalized guidance to help you make informed and bespoke investment decisions.Why Mira Developments is the Right Choice for InvestorsMira Developments stands out among Dubai's real estate peers by prioritizing customer satisfaction and focusing on delivering the highest ROI for its clients. This is achieved through unique collaborations with prestigious global brands such as Bentley Home and Trussardi.  Exclusive properties like Mira Villas and Trussardi Residences, which blend luxury with innovative design, are the products of these creative alliances.Mira Developments is known for its transparency and client-first ethics. Investors stay well-informed at every stage and get post-handover support, giving them peace of mind. In line with the evolving demands of modern investors and residents, Mira Developments supports sustainability and innovation, integrating eco-friendly practices and cutting-edge technology into their developments.FAQsIs Dubai real estate a bubble?It is not. On the contrary, it is one of the most stable markets as is backed by flexible and prudent government policies that promptly react to adverse externalities.How do I get started as an international investor?By finding the right advisor you can rely on and figuring out your goals, whether you are after a short-term gain or a long-term journey.What is the Golden Visa, and how does it benefit property investors?Golden Visa is Dubai’s government initiative that grants property investors long-term residency, the ability to own property, get extended visas for families, and other perks almost on par with the Emiratis. The size of the investment varies.Are there restrictions on foreign ownership in Dubai?Yes, foreign ownership in Dubai is permitted in designated freehold areas, where expatriates can own property with no strings attached. Outside these areas, properties are typically available under long-term leases of up to 99 years.How does Dubai’s rental market compare globally?Well above average. It is uniquely stable, with dips not too deep and upticks steady and rather high. It is a safe bet. 

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