It’s not the glitzy Palm, bustling Marina or stylish Business Bay.
Dubai’s most active district for real estate transactions is, and has been for several years running, Jumeirah Village Circle.
Built by master developer Nakheel beginning in 2005, JVC is essentially a massive roundabout tucked away from the coast on the east side of Al Khail Road. It is home to a couple of thousand freehold residential units, shops and restaurants, and well-regarded schools and healthcare facilities.
The right mix of location and pricing is what makes the neighborhood popular, according to Bass Ackermann, the property developer behind Hive, a co-living building in JVC.
“Especially for the younger demographic who tends to socialise in Dubai Marina, JBR etc, but can’t necessarily afford to live there – JVC is a great alternative due to its proximity,” he says. “For families, the affordability and range of amenities offer great value for money.”
Guillaume Belanger, who manages Hive JVC, was new to Dubai in late 2019 when he started hearing about the neighbourhood as up and coming.
“When talking about areas such as JVC with people who are not familiar with Dubai, I like to say, that’s where the normal people live,” he says.
According to data shared with AGBI by real estate consultancy ValuStrat, in 2024 JVC was again Dubai’s busiest area for ready-home sales, the third year in a row it snatched the title. It has consistently been among the top five since clinching third spot in 2014.
JVC also had the most off-plan transactions in 2024 for the second consecutive year, after securing a spot in the top five for the past four years.
For a detailed perspective on the property market, visit: Dubai - VPI Residential Capital Values -December 2024
