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Nowadays, Dubai is one of the most developed metropolitan areas in the world. Low local taxation and explosive economic growth make the city a great option for real estate investment. Most buyers prefer to buy apartments in development projects in Dubai because of their rising cost by the time construction is completed, the reliability of local developers, and short payback periods. What are the best places to buy property in Dubai in off-plan developments? In this article, we’ll take a look at the top 10 Dubai districts for buying off-plan property.
Content:
- The Palm Jumeirah
- Jumeirah Village Circle
- DAMAC Hills
- Dubai Hills Estate
- Mohammed Bin Rashid City
- Dubai Marina
- Business Bay
- Dubai Creek Harbour
- Downtown Dubai
- Emaar Beachfront
- We will help you buy off-plan property in Dubai
The Palm Jumeirah
The Palm Jumeirah is a famous man-made archipelago on the Persian Gulf, which is considered the eighth wonder of the world. The housing market in The Palm Jumeirah offers various types of premium real estate. It is difficult to find residential properties in more budget-friendly segments on the island. The cost of local apartments starts from about AED900,000 ($245,000) for a studio. A villa in The Palm Jumeirah will cost you a minimum of AED7 million ($1.9 million). Residential areas are located on the “branches” of the palm tree, and on the surrounding “crescent”, there is a premium hotel with a wide range of entertainment and other hotel complexes.
On the islands of The Palm Jumeirah, apartments in off-plan development projects can be purchased in One Crescent at prices starting from AED15 million ($4.08 million), Ellington Beach House from AED8.3 million ($2.2 million), Orla Residences from AED26 million ($7.07 million), and many other developments.
Jumeirah Village Circle
Jumeirah Village Circle (JVC) is a popular and rapidly growing freehold area located in the center of New Dubai. With its progressive infrastructure, JVC is an attractive option for professionals, investors, entrepreneurs, and couples with children. The neighborhood has well-developed transport links, so it is easy to get to other residential and business areas of the Emirate from here.
Properties in the neighborhood include villas and residential complexes with apartments of various sizes and configurations and amenities for residents such as gardens, swimming pools, sports areas, and kids clubs.
You can buy apartments in Jumeirah Village Circle in Oakley Square at prices from AED636,000 ($173,179), Binghatti Luna from AED590,000 ($160,653), The Portman from AED746,000 ($203,131), Dusit Princess Rijas from AED511,000 ($139,142), and other developments.
DAMAC Hills
DAMAC Hills and DAMAC Hills 2 are eco-friendly neighborhoods located next to top-class golf clubs, about a 30-minute drive from sandy beaches. Thanks to a serene atmosphere and a sense of security, these areas appeal to couples and nature lovers. Apartments and villas in Dubai here can be purchased for both living and investment purposes, as the developer offers flexible installment plans (at a rate of 1.99%).
Properties in DAMAC Hills are available from AED9,900 ($2,695) per m2. The cost of 1 m2 in villas start from AED14,700 ($4,002); in apartments in high-end residential complexes from AED40,400 ($11,000).
In DAMAC Hills, you can buy an apartment in Golf Promenade at prices starting from AED1 million ($272,294), K1 Residence from AED347,000 ($94,486), Serena Casa Viva Townhouses from AED1.5 million ($408,441), Arabian Gate 1 from AED404,000 ($110,006), Golf Horizon from AED1.6 million ($435,670), and other developments.
Dubai Hills Estate
Dubai Hills Estate is the first phase of MBR City. The area will include neighborhoods, green areas, golf courses, a huge Dubai Hills Mall. There will be walking, jogging, and cycling tracks. Dubai Hills Estate will contain 22,000 apartments, 4,600 villas, and 197 m2 of offices. Couples with children will appreciate the branches of the British private school GEMS and kindergartens nearby.
Off-plan projects in Dubai Hills Estate include Hills Park with apartments priced from AED1.2 million ($326,752) for a one-bedroom residence, Lime Gardens with apartments from AED1.1 million ($299,523), Park Field with apartments from AED1 million ($272,294), Ellington House with apartments costing over AED1.5 million ($408,441), and other developments. A variety of choices, relatively low prices, and promising prospects of the neighborhood make local properties a potential bargain.
Mohammed Bin Rashid City
Mohammed Bin Rashid City (MBR City) is a recent development in Dubai, which was started in 2012. We talked about Dubai Hills Estate above, but you can also find off-plan residential complexes in other parts of MBR City. Note that their number will increase in the coming years; you just need to carefully watch for sales announcements.
MBR City is still under construction and will have 26,400 residential units when completed. Shopping centers, lush green gardens, theme parks, golf and racing clubs will be built in the surrounding area.
At the beginning of 2023, off-plan apartments in Dubai are available in MBR City starting from AED1.5 million ($408,441): in Riviera Azure for at least AED1.4 million ($381,211), in Sobha One for AED2.8 million ($762,423), etc.
Dubai Marina
Dubai Marina is the most developed and exclusive waterfront area in the west of Dubai. It is also known as an affluent resort community. Properties here are sold at the highest prices in Dubai. The housing stock of Dubai Marina consists of multi-family complexes, penthouses, apartments, and villas. Residents of the neighborhood will have easy access to the coast and various attractions, such as the Ain Dubai Ferris wheel, a diving club, and a yacht marina.
Looking for apartments in development projects in Dubai, in Dubai Marina, you can consider LIV Apartments, which offers one- to four-bedroom apartments priced from AED1.85 million ($503,744), as well as Marina Livings with apartments from AED1.4 million ($381,211), Marina Arcade with apartments from AED1.9 million ($517,358), Stella Maris with prices from AED2.2 million ($599,047), and other developments.
Business Bay
Business Bay is one of the largest business hubs in the UAE, which successfully combines commercial and residential real estate. The district is adjacent to Dubai Canal and is close to the city center. The community’s primary purpose is commercial. Offices here are equipped with premium amenities and meet the most stringent requirements for the comfort of employees. That is why many global corporations choose the UAE as a place to set up a headquarters and do business.
In Business Bay, apartments in off-plan development projects in Dubai are offered in Damac Chic Tower, where you will have to pay at least AED2.9 million ($789,652) for them, in Jumeirah Living Business Bay for AED8.3 million ($2.2 million) and higher, in Paragon for AED950,000 ($258,679) and higher, in Peninsula Three from AED1.1 million ($299,523), and in other developments.
Dubai Creek Harbour
Dubai Creek Harbour is an ambitious construction project located on the banks of Dubai Creek, which includes residential and commercial real estate, office centers, parks, gardens, and a stunning waterfront. The commercial area will occupy 820,000 m2, 66,000 m2 will be taken up by cultural facilities, and 7.3 million m2 will be neighborhoods.
Apartments in Dubai Creek Harbour can be purchased in Rosewater for AED1.7 million ($462,899) and higher, in Creek Beach Orchid for AED1.2 million ($326,752) and higher, in Lotus for at least AED1 million ($272,294), and in Grove for AED1.25 million ($340,367) and higher.
Downtown Dubai
Downtown Dubai is the economic and cultural center of Dubai. It is the most impressive region of the Emirate and is home to iconic attractions such as the Dubai Mall, the Burj Khalifa, and the Dubai Fountain. The favorable location of the community provides comfortable living in the thick of city life. You can work in the city center and easily get to key attractions.
As for real estate, Downtown Dubai has a variety of new developments such as St. Regis Residences with apartments priced from AED2 million ($544,588), Burj Crown with one- to three-bedroom apartments (prices on request), Elegance Tower with apartments for at least AED1.8 million ($490,129), Canal Heights with apartments from AED1.3 million ($353,982), etc.
Emaar Beachfront
Emaar Beachfront is a premium community by the prestigious developer Emaar. The area has regular transport links that provide access to one of the Emirate’s main highways, Sheikh Zayed Road, and key districts of Dubai. Upscale properties at Emaar Beachfront are designed to provide everyone with private living with deluxe amenities, making it the perfect home for those seeking an exclusive lifestyle. In each residence, practicality and simplicity are in perfect harmony with the sophisticated design and luxury.
Emaar Beachfront offers residences in off-plan developments, such as Beachgate by Address with apartments priced from AED11.9 million ($3.2 million), Address the Bay with apartments from AED2.3 million ($626,276), and Palace Beach Residences with apartments from AED1.8 million ($490,129).
We will help you buy off-plan property in Dubai
In almost every district of Dubai, new developments are popping up offering homes for anyone who wants to live in this tourist and business hub in the Middle East. Each community strives to stand out from the rest by incorporating high-quality amenities. Regardless of the status of the area, all under-construction residential complexes offer real estate in Dubai that fully meets the requirements of today’s comfortable life. Dubai’s new developments, from the layout to the surrounding infrastructure, are created to provide the best living conditions for the modern city dweller. Contact our experts to select an off-plan residential complex in Dubai that meets your needs and budget.
