One of the most interesting trends in the UAE's booming property segment is waterfront development. Over the years, waterfront living has emerged as a popular choice for investors who prefer the tranquillity of a home that overlooks the sea and at the same time offers picturesque views while being away from the hustle and bustle of city life.
Other than the obvious lifestyle benefits associated with waterfront projects, these properties also command a potentially larger capital gain when compared to an equivalent investment on a nonwaterfront development.
Also being relatively scarce, waterfront properties automatically attract higher rental prices. A lucrative option is to invest and lease be it a short-term rental or timeshare. In such cases, rents take on a whole new dimension.
As with everything else, if there are pros there will be cons. For waterfront homeowners, the main concern is the high home maintenance, especially electronic appli ances, wooden surfaces, painted finishes, gardens and, yes, cars too. The culprit here is the salt in the air which cannot be avoided.
For developers, the main challenge is to ensure that the development's design allows for current flows, removal of sediment and also adequate mechanics to control the impact of sea tides and sedimentation.
Questions have often been raised on the damage to marine life and sewage disposal systems. However, welldesigned islands and waterfront properties have minimal, if any, negative impact on surroundings. In fact, if projects are designed with a genuine concern for the natural environment, they could have a positive outcome.
For example, the creation of artificial reefs gives rise to nurseries for marine life to develop. Waste, sewerage or leaching into soil can be managed by various methods - all of which ensure the effluents do not reach the sea.
The UAE is home to several waterfront projects such as the Saadiyat Island and Al Raha development in Abu Dhabi, Mina Al Arab in Umm Al Quwain, The Cove and Saraya Islands in Ras Al Khaimah and of course, The Palms, The World and Dubai Marina in Dubai. The above are only some examples of carefully planned developments coming on board.
If we broaden the picture and compare the UAE against the rest of the world, it is safe to say that the country will house the most ambitious range of manmade islands in the world certainly the biggest in design and offerings. No country can compare with this scale!
By Andrew Chambers
Emirates Today 2006
