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Investors are attracted to Dubai due to its advantageous taxation system, zero income tax, return on investment from 6 to 9% per annum, and the possibility of obtaining a residence visa for 3, 5 or 10 years. What projects should be considered first when investing in real estate in Dubai in 2024? This article presents off-plan projects in Dubai that are worth your attention.
Content:
Samana Santorini
Samana Santorini is a new first-class low-rise project in Dubai Studio City that will interest international investors and entrepreneurs with an exciting selection of residential and commercial properties. Completion of its construction is planned for Q3 2024.
Housing type
The off-plan Samana Santorini residential complex is a four-story high-end building inspired by the beauty of the Greek island of Santorini. Exquisite white facades, picturesque pools, and coconut palms all come together to provide residents of the complex with the ambience of a magnificent European resort.
Located in the exclusive community of Dubai Studio City, Samana Santorini offers 157 residential units. They are studios with private pools and one- to three-bedroom apartments, overlooking the surrounding green spaces and the city skyline. All apartments feature spacious terraces or balconies.
Despite the luxurious interiors and the elite nature of the house, the prices for apartments in Samana Santorini are relatively low. A studio can be purchased starting at AED469,000 ($127,700). This combination makes the complex an excellent choice for investors who want to start with a small investment and plan to receive a stable income from renting out their property.
Advantages of the project
Residents of Samana Santorini will be provided with top-tier amenities such as:
- a yoga area
- an outdoor cinema
- a numerous pools
- a barbecue area
- a health club
- a decorative water features
- a parking space
Both single entrepreneurs and couples with children can buy an apartment in Dubai, in Samana Santorini. Families will love a large playground and children’s pool in the new complex. They will also benefit from the proximity to the Blossom Nursery Damac Hills, Victory Heights Primary School, and the Royal Grammar School Guildford Dubai.
Exterior and interior of the project
The exterior of the complex is designed in the Greek style: white facades are in perfect harmony with the azure of picturesque pools and the greenery of tall palm trees. Spacious rooftop areas with gazebos will not only add to the beauty of Samana Santorini but also provide a cozy space for relaxation.
A good location, high-quality interior design, panoramic windows, balconies with stunning views of the surroundings, and many swimming pools make the residences in Samana Santorini comfortable for living and in demand among tenants.
Benefits of investing in the project
Real estate in Samana Santorini is a reliable asset that will not only help you save capital but also generate passive income. At the moment, you can purchase a studio in the new complex for AED469,000 ($127,700). By the time the construction is completed, the value of the properties will increase.
The return on investment properties in Dubai Studio City is 6.3% per annum for a studio and 6.9% for a one-bedroom apartment. With long-term leases in a number of projects, the yield in this neighborhood reaches the highest rate in the Emirate (11% per annum).
Developer
The Samana Santorini project is being developed by Samana Developers. Since 1996, its primary goal has been construction of residential complexes and sale of apartments in Dubai.
Samana Mykonos
The prestigious Samana Mykonos project is located in the mixed-use community of Dubai Studio City, near the beaches of the Persian Gulf and the famous residential area of Motor City.
Housing type
The off-plan Samana Mykonos project is an exclusive residential complex in Dubai Studio City, which has become the hub of Dubai’s music and film industries.
The residential complex is a six-story elegant building, shaped like a yacht. In total, Samana Mykonos will feature 198 residential properties, including studios and one- to three-bedroom apartments. The area of apartments ranges from 46 to 186 m2.
The price of apartments in a development project in Dubai in this complex starts at AED710,000 ($193,300) per studio. AED1.06 million ($288,600) can buy you a one-bedroom apartment. At a price starting at AED1.5 million ($408,400), you can purchase a two-bedroom apartment; at AED2.3 million ($626,300) a three-bedroom apartment.
Advantages of the project
Residents of Samana Mykonos will appreciate amenities such as landscaped green areas, sports courts, swimming pools and recreational terraces, a fitness center, a yoga and pilates room, an outdoor cinema, playgrounds, a barbecue area, parking spaces, a sauna, and a concierge service.
The advantage of Samana Mykonos is its location. Dubai Studio City is located next to Al Qudra Road, which provides residents with quick access to Dubai’s key infrastructure facilities and attractions.
Exterior and interior of the project
The extraordinary design and functional layout of Samana Mykonos make the residences popular with foreign buyers. The smooth elegant lines of the facades, predominant white color, and picturesque views from the balconies and terraces are reminiscent of the architecture of the Greek island of Mykonos, surrounded by the Aegean Sea.
Benefits of investing in the project
Buying an apartment in Samana Mykonos will add a highly profitable asset to its owner’s investment portfolio. At the construction stage, the developer offers to purchase an apartment at a bargain price in interest-free installments. Buying at an early stage of project development reduces the payback period of an investment.
You can see the return on investment (ROI) in Dubai Studio City in the table below.
| Apartment Type | ROI (%) |
|---|---|
| Studio | 6.3 |
| One-bedroom | 6.9 |
| Two-bedroom | 6 |
| Three-bedroom | 7.5 |
Developer
Samana Mykonos is being developed by Samana Developers, which has been supplying high-quality real estate to the Dubai market since 1996. The complex will be commissioned in Q2 2025.
Harbour Lights
A new high-rise residential complex with marvelous views of the Persian Gulf and Harbour Lights will be located in the business, commercial and industrial community of Dubai Maritime City. Completion of its construction is planned for Q2 2027.
Housing type
Harbour Lights project is a 52-story building with one- to three-bedroom apartments ranging from 74 to 158 m2. According to the master plan, the building will house 291 upscale residences and 3 luxury designer residences with private pools.
Apartments in Dubai, in the off-plan Harbour Lights project, are offered in various floor plans: with one or more balconies. The apartments will be handed over to buyers ready for move-in, fully finished, fitted with household appliances, sanitary ware, and furniture.
Prices for apartments in Dubai in the new complex start at AED1.32 million ($360,000) for one-bedroom apartments, at AED2.19 million ($598,800) for two-bedroom apartments, and at AED2.33 million ($636,000) for three-bedroom apartments.
Advantages of the project
The highlight of the project will be a unique ‘floating’ pool on a platform immersed in the waters of the Persian Gulf. Harbour Lights also offers its residents a well-equipped gym on the 51st floor of the building, a scenic swimming pool with sun loungers on the 24th floor, and a luxuriously decorated lobby with a concierge desk.
Thanks to thoughtful floor plans and world-class amenities, residential properties in Harbour Lights are equally suitable for single professionals, business people, couples with children, and retirees.
Exterior and interior of the project
The exterior of the complex features marine motifs. The facade of the tower is decorated with intricate geometric shapes. Panoramic glazing adds a sense of lightness to the building and provides high-quality lighting in the apartments.
The interiors of Harbour Lights were designed by De Grisogono. The color palette of the apartments is dominated by beige. Unusual glass decorative pieces go well with textiles in blue and green hues. Numerous plants will create an atmosphere of coziness and comfort.
Benefits of investing in the project
Purchasing an apartment in the new Harbour Lights project will be a profitable investment due to the favorable location of the residential complex on the first line near the coast of the Persian Gulf. At the initial stage of construction, the price of apartments will be relatively low. Investors who sign the agreement at the beginning of construction will subsequently be able to sell the property they buy or rent it out profitably, receiving legal passive income to their bank account in Dubai.
Residences in Harbour Lights will also appeal to potential tenants with exceptional design solutions and proximity to all necessary social facilities.
Developer
The project is being developed by DAMAC Properties, the Emirate’s largest property development company. The developer’s portfolio includes several successful projects in Dubai, including the development of the entire residential communities of DAMAC Hills 1, 2 and 3.
The Dubai real estate market offers many projects that will be of interest to overseas buyers. Before buying an apartment in a development project in Dubai as an investment, it is important to decide on your income generation strategy, understand how much you plan to invest, and choose the type and size of the property. Experts believe that in the next ten years, the population of Dubai will increase, which means that the demand for real estate in the country will grow. A calm political environment, prudent government decisions, and far-sighted tax policy are attracting many super rich people to the country, which leads to the luxury real estate sector growing especially fast. All these factors should be considered when planning to buy an apartment or villa in Dubai.
