Convertible Apartments: A Game-Changer in Real Estate
Convertible Apartments: A Game-Changer in Real Estate
The Dubai real estate market is entering a new chapter as developers seek innovative solutions to capture buyers' attention. Danube Properties, a leading Dubai developer, has introduced a project where studio apartments can be converted into one-bedroom apartments, and one-bedroom apartments can be converted into two-bedroom units. This flexible approach is appealing not only to investors but also offers significant advantages to tenants.
Timez by Danube: A New Icon in Silicon Oasis
The new project, Timez by Danube, is being built in the Dubai Silicon Oasis and is expected to be ready by the third quarter of 2028. Its most striking feature is that residents can convert studios into one-bedroom apartments and one-bedroom units into two-bedroom apartments. This approach not only enhances functionality but also promises investors higher returns and rental income.
Prices for the project start at 800,000 dirhams (approximately 80 million forints), which is considered competitive in the Dubai market. Timez by Danube stands out not only for its functionality but also as the tallest building in Dubai Silicon Oasis, featuring three clocks reminiscent of the Mecca Royal Clock Tower. Thus, the building serves not only as a residence but also as a new community icon.
Popularity of Flexible Apartments
The founder and chairman of Danube Properties noted that there is significant demand for convertible apartments, and more such projects are planned for the future. Flexible designs allow owners to modify their apartments according to their needs while also increasing their market value. For example, a studio can be transformed into a one-bedroom apartment, attracting higher rent, or a one-bedroom apartment can become a two-bedroom unit, making it even more appealing to investors.
According to Sajan, the Dubai real estate market is rapidly evolving, with developers continually introducing new projects to meet demand. Danube Properties plans to deliver two projects six months earlier this year and intends to introduce 3-4 more new projects, primarily along the E11 corridor.
Advantages of Silicon Oasis and E11 Corridor
Areas along the Dubai Silicon Oasis and the E11 corridor, such as Jumeirah Village Circle and Al Furjan, are increasingly popular with developers. A key reason is that these areas are more affordable, by up to 20-30%, compared to central city locations like Business Bay or Downtown. Sajan notes that finding appropriate land in prime locations is challenging due to its scarcity.
However, along the Silicon Oasis and the E11 corridor, affordable land is still available, offering significant capital investment opportunities. The area's appeal is further enhanced by the planned extension of the Dubai Metro blue line, which will serve communities along Sheikh Mohamed bin Zayed Road. Additionally, the relocation of Dubai International Airport to Al Maktoum Airport contributes to the area's development.
Challenges: Land and Contractors
The biggest challenge in the Dubai real estate market is not finding buyers but securing the right land and reliable contractors. For developers, it is crucial to complete projects on time and as planned to avoid delays. However, this is not an issue for Danube Properties, as the company is also involved in building materials and furniture manufacturing, ensuring timely project completion.
International Interest and Bollywood Stars
The Dubai real estate market is attractive not only to local but also international investors. According to Sajan, more buyers are coming from countries such as Colombia, Russia, Cambodia, Mexico, and other markets in South America and Africa. Additionally, many Bollywood stars have invested in the Dubai real estate market, drawn by the zero income tax, world-class infrastructure, high investment returns, and luxury lifestyle opportunities.
Conclusion
Danube Properties' new project, Timez by Danube, clearly showcases the innovative and flexible nature of the Dubai real estate market. Convertible apartments not only increase functionality but also promise investors higher returns. The areas along Silicon Oasis and E11 corridor are becoming increasingly attractive, thanks to ongoing developments and future infrastructure projects. The Dubai real estate market continues to develop dynamically, offering numerous opportunities for both local and international investors.
