Ever since Dubai opened its freehold property market for expats just over 15 years ago, the city has become home to an incredible and unbelievable number of real estate projects. With the huge number of off-plan property projects up for sale, it gets confusing when it comes to deciding where to invest your hard-earned money. This is why we’re taking a look at off-plan projects in the city’s most sought after areas.
Downtown Dubai developed by Emaar Properties is a great place for those looking to buy off-plan apartments in Dubai. It is one of Dubai’s most iconic addresses, Downtown Dubai has long been known for its apartments with spectacular views of the Burj Khalifa and the Dubai Fountains. Master Planned by Emaar, the neighborhood is one of the most instantly recognizable areas to the people all over the world.
The pace of construction of apartments in Downtown Dubai shows literally no sign of stopping anytime soon. Langham Place is one such upcoming tower. The studio of 2-bed hotel apartments in Downtown Dubai start at a price of AED 940 thousand for a studio and is due for completion in 2020. Another popular tower in this area which is also due for completion in 2020 is the 1 to 4 bedroom Downtown Views, with prices starting from AED 1.2M for a 1-bed. Some of the other towers in the area that are worth looking at are the much-talked Vida Residence, Imperial Avenue, Forte and Burj Vista II.
Developed by DAMAC, AKOYA Oxygen boasts itself as an idyllic retreat set within the fast-paced city of Dubai. The self-sufficient community has its own well-planned road network, with plenty of allowances for bicycles as well as hybrid vehicles. AKOYA Oxygen also boasts its own lifestyle, retail and recreational spaces, along with several cafes and restaurants. One of the key elements of AKOYA Oxygen is its commitment to greenery. While other key features of the community is the Trump World Golf Club designed by Tiger Woods and consisting of a world-class clubhouse, training areas and top-notch restaurants.
Some of the current off-plan villas in AKOYA Oxygen that are attracting the investors includes the luxurious Sahara Villas with 3-beds starting from just AED 980k. One of the most popular villa projects within the community is the Roberto Cavalli designed Cavalli Villas, with prices starting just under AED 1M. For investors and homebuyers who are looking at apartments in AKOYA Oxygen, Viridis and Navitas Hotel & Residences are popular choices.
3. JUMEIRAH VILLAGE CIRCLE (JVC):
In just two short years, Jumeirah Village Circle or JVC has become one of the city’s most sought-after destinations, with an affordable price tag and state of the art amenities. Investors have a choice of studio, 1, 2, 3 and 4 bedroom apartments in JVC including duplexes that come either furnished or unfurnished, in a variety of different layouts and styles. There are also many Mediterranean and Arab architecture inspired 2 to 5 bedroom villas in JVC that are either detached or semi-detached.
Some of the off-plan apartments in JVC that are attracting the investors includes Bloom Towers with studios starting from AED 380k and Eaton Place with studios from AED 456k. Other sought after low-rise apartments in the neighbourhood includes those at Belgravia and the Milano by Giovani.
MOHAMMED BIN RASHID (MBR) CITY:
A sprawling development called MBR City is made up of several smaller neighbourhoods that have some of the city’s best developers backing them such as Emaar, Meydan Sobha and Azizi to name a few. Thanks to the diverse range of developers, investors can find everything from studios to massive 8-bed villas on offer, at prices to suit investors with different budgets. District One is the most expensive of the MBR City communities because of its close proximity to Crystal Lagoon.
Investors are showing great interest in the project, with many of the MBR City properties already being sold out. One of the most popular off-plan apartments in Dubai are located in MBR City – Azizi Victoria in District 7, with studios starting from a very attractive AED 200k. Meanwhile, Sobha Hartland is another popular sub-community with apartments starting from AED 690k for a studio and villas at AED 5.1M for a 4-bed.
The elegant Dubai Hills Estate by Emaar is a sustainably build community that is being constructed around a spectacular golf course covering 2,700 acres in the MBR City master-development. Those interested in purchasing an off-plan property here are truly having a wide array to choose from. For example, the Park Heights apartments which are due for handover this year, start at an enticing AED 825k for a 1-bed while luxurious villas at Dubai Hills Grove start at AED 19M for 7-beds. However, not all properties here are that much expensive. The popular Sidra Villas start at a relatively more affordable AED 2.2M for 3-beds and come with gorgeous views of the golf course.
As the city gets closer towards Expo 2020 and beyond, the sheer variety of off-plan projects on offer seems to cater to every type of investor from those looking for an asset to live in to those looking to expand their property portfolio. It is safe to say that the current market is favoring those interested to buying Off Plan in UAE.