Off-Plan Investments in Dubai
Dubai’s real estate market had a solid year in 2017 with approximately AED 285 billion worth of transactions, and off-plan sales played a very significant part in that. With a new launch happening seemingly every week courtesy of developer such as Emaar and Meraas in some of the most prime areas of the city, it was definitely a good year to invest in the future. So far in 2018, off-plan sales haven’t held quite the same sway over the market, but that is expected to change once autumn comes around, and especially after Cityscape 2018.
Top 12 New Projects in Dubai 2021
|1. La Rosa VI||2. June 2||3. Peninsula One|
|4. Beach Mansion||5. Cavalli Tower||6. Harrington House|
|7. Five JBR||8. Marina Sands||9. Nara|
|10. Aykon City||11. Belair||12. Aura Gardens|
With a total transaction volume of AED 111 billion the market is off to a slower start than the same period in 2017. However, Dubai is positioning itself as a more investor-friendly city than ever before with a series of new regulations announced over the past six months. Most important is, of course, the recent announcement that the UAE government will be granting 10-year residency visas to international investors, specialists (such as doctors and engineers), and top performing students. Expected to be implemented by the end of 2018 with visas potentially being issued from Q3, this new residency plan is set to open a multitude of new opportunities and present flexible regulations to attract global investors. Businesses, which previously had the requirement of a local stakeholder to be operational, will now have the option of 100% foreign ownership, which is bound to alter Dubai’s commercial landscape quite significantly in the years to come.
Investors previously seeing investing in Dubai as only a short-term option will be more inclined to invest long-term with the new regulations. Despite having some of the most exclusive and luxurious homes in the world and offering competitive pricing and generous payment plans, Dubai still had too much a transient atmosphere for investors to really sink their teeth into it. The advantage of gaining a 10-year visa would provide them with more flexibility and security for their potential investments. The residency plan is also aimed to increase inward investment as well since current residents of Dubai might invest in local real estate to reap the benefits of the new 10-year visa, allowing them to settle long-term in Dubai.
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In recent years, property investment into the UAE has been steadily rising, with year-on-year increases in investment by GCC nationals and a few other key nationalities. In the first half of 2018, the top investors were from the UAE, India and Saudi Arabia, demonstrating the continued confidence of regional investors in the city as well as the strong economic ties between India and the UAE. The new regulations will help the UAE further establish itself as one of the most stable investment destinations in the region, attracting more investments not just from these key groups but a far broader demographic of investors.
This news is a major boon for the world of luxury real estate, where a single investment ranging in the millions can now be offset by a longer period of investment instead of hoping for the best short-term gains.
With so much incentive to invest in Dubai’s property market, what are some of the best areas in which to make your investment? Stay tuned as we break down the best communities for off-plan investment in our upcoming posts.
6 Best Off-Plan Investments in 2022
|1. Townhouses, District One||2. Standalone Villas, Arabian Ranches III||3. Chorisia, Al Barari|
|4. Building 7, Madinat Jumeirah Living||5. Shorefront Residences, Emaar Beachfront||6. Palace Beach Residences, Emaar Beachfront|
The world took an unexpected turn in 2020, which led to a surge in secondary market sales as people sought the stability of ready properties. As we look at 2021 and beyond with a growing sense of optimism, off-plan is poised to make a significant comeback. Some very keenly anticipated residential projects, which were pushed back as a result of the pandemic, will be coming to fruition this year, and we are already starting to see new launches being announced from Dubai’s most prominent developers. Here are the best off-plan investment options for you to consider in 2021.
District One has distinguished itself as one of the premier new communities in Dubai. It has a truly fantastic offering of homes, ranging from sleek modern apartments to spectacular mansions, all located a few minutes away from the incredible Crystal Lagoon. The newest residential launch at District One is the townhouse collection, comprising four-bedroom semi-detached homes with beautiful contemporary design.
Arabian Ranches III was launched to much fanfare in 2019 - little surprise considering the first two phases of Arabian Ranches are among the most popular family neighbourhoods in Dubai. All of the initial launches within the development were semi-detached townhouses, after which the project went quiet as a result of global events. In 2021, Arabian Ranches III is back in the spotlight, announcing the very first standalone villas in the community. Exact details such as unit sizes and types are unknown at this time, but should be available soon.
Also known as the silk floss tree, Chorisia is native to South America and known for its distinctive pink flowers. The latest collection of villas launched in the gorgeous community of Al Barari, Chorisia also features a distinct contemporary look, incorporating a central courtyard bright, open layout into its design. All of the villas have five bedrooms and spread across three levels, with a seamless flow between indoor and outdoor living.
Madinat Jumeirah Living, a residential extension to the immensely popular Madinat Jumeirah resort, was a huge hit with investors upon being introduced to the market. New launches within the project have come in at a trickle, but each launch has generated a tremendous amount of buzz. The latest announcement that came in at the tail end of last month was for Building 7, also known as Building 2 of the Asayel cluster. Comprising one to four-bedroom apartments with stunning modern layouts, it is perhaps one of the hottest off-plan projects on the market right now.
Beach Isle is one of the beautiful Miami-inspired residential projects in Emaar Beachfront, which is a key part of the Dubai Harbour maritime development. The most recent addition to the project is Shorefront Residences, comprising one and two-bedroom fully furnished apartments that are located along the podium level of Beach Isle. This is a very exclusive and limited collection, allowing end users the option to simply walk in through the front door of their completed apartment and stat enjoying their new lives right away.
The second launch at Emaar Beachfront in less than a month, Palace Beach Residences is the waterfront counterpart to the popular Palace Residences in Downtown Dubai. The apartments in this project will feature a sophisticated combination of Arabic and modern European design, complemented by the five-star services of the adjoining Palace Beach Hotel.
For some more off-plan investment opportunities, take a look at some of our listings below.
Properties in Dubai:
Mr C Residences, Jumeirah
Ref No. LP09012