Excerpt:
Deira is one of the oldest and most vibrant neighborhoods in Dubai. With a rich history dating back centuries, it has managed to retain its unique cultural heritage while still evolving into a modern urban center. From its bustling souks to its waterfront promenade, Deira offers an authentic glimpse into the heart of Dubai.
Location:
Deira is situated on the eastern side of Dubai Creek, bordered by the districts of Al Ras, Al Dhagaya, and Al Rigga.
Area size:
The area covers approximately 15 square kilometers.
When established:
Deira has been a hub of trade and commerce for over a thousand years, with its history dating back to the pre-Islamic era.
Weather and climate:
Like the rest of Dubai, Deira has a hot desert climate with high temperatures and low rainfall throughout most of the year.
Iconic landmarks:
Deira is home to some of Dubai’s most famous landmarks, including the iconic Gold Souk, Spice Souk, and Deira Clocktower.
Real estate developments:
Deira has a range of real estate options, from low-rise apartment buildings to commercial spaces and warehouses.
Average prices of housing and plots:
The average price of a one-bedroom apartment in Deira ranges from AED 40,000 to AED 80,000 per year, while the average price of a two-bedroom apartment ranges from AED 60,000 to AED 120,000 per year.
Types of buildings:
Deira has a mix of old and new buildings, with traditional Arabic-style architecture alongside modern high-rises.
Future of the region:
Deira is undergoing a transformation, with several redevelopment projects underway to enhance its infrastructure, improve connectivity, and promote tourism.
Pros and cons:
Deira’s prime location, rich cultural heritage, and affordable real estate make it an attractive option for residents and investors. However, traffic congestion and a lack of green spaces are some of the drawbacks of living in the area.
Key notes on the area:
Deira is a vibrant and diverse neighborhood, offering a mix of traditional and modern experiences. Its bustling souks, authentic street food, and lively waterfront promenade are some of the highlights of the area.
Why investors need to consider that region?
Deira’s strategic location, well-established infrastructure, and ongoing development projects make it an attractive investment opportunity. With the help of Realty Homist, investors can explore the various real estate options in the area and make informed decisions based on their preferences and goals.