The growing economy of the UAE, developed infrastructure and government initiatives encouraging foreign investment make new off-plan apartments in Dubai one of the world’s most profitable assets. The emirate is in great demand among those who want to invest in the real estate industry. Off-plan housing units are popular with buyers who want to maximize their income from investments. After foreign nationals received the opportunity to purchase real estate in the UAE in 2002, properties for sale in off-plan residential complexes in Dubai from a developer have become one of the most profitable parts of the industry in the country.
New off-plan buildings in Dubai
New off-plan projects in Dubai are potentially beneficial assets. Let us find out the best areas for buying an off-plan property in the city, and the reasons why investors prefer these for investment.
Off-plan projects in Dubai (directly from the developer) enjoy the greatest consumer interest in the following districts of Dubai:
- Downtown Dubai. The district is located in the central part of the city and is developing rapidly. It attracts tourists and investors with world-famous attractions such as the Burj Khalifa super-high skyscraper, the Dubai Mall, and the Dubai Musical Fountain. Previously, the local housing market consisted only of multi-apartment residential complexes, but over time, villas, townhouses, and other types of residential units also began to be built in the area.
- Dubai Marina. The district is one of the most popular locations for buying properties for sale in off-plan projects in Dubai. It offers a dynamic lifestyle typical of the central part of the city, near the bay. The location includes luxurious skyscrapers, many restaurants, and entertainment venues.
- Dubai Hills. This residential area is the first phase of a major construction project, MBR City. It can be easily reached from any part of the emirate by the expressway, Al Khail Road, which is located nearby. The project consists of communities with different configurations of real estate, such as villas, townhouses, apartments, and residential plots.
- Palm Jumeirah. Wealthy investors who are going to buy an off-plan property in Dubai prefer properties on this man-made island, known as “the eighth wonder of the world.” The area on the coast of the Arabian Sea is one of the world’s most attractive sights of interest. The plan consists of a trunk, 16 branches, and a crescent. There will be an exclusive collection of luxury villas, townhouses, apartments, and hotels.
One of the main reasons to buy a property in a new off-plan building in Dubai is the comfortable lifestyle that is typical for multinational Dubai. In the central part of the city, you can see a bustling atmosphere due to the crowds of tourists who want to visit the famous sights, and professionals in a hurry to deal with work matters. Closer to the outskirts, there are quiet eco-friendly communities with many parks, recreation areas, and playgrounds that will appeal to families with children. Whoever a person is and whatever goals he pursues, Dubai has everything he needs.
Here are the main reasons why investing in real estate from off-plan developers in Dubai is a good option:
- High rental income. Investors purchasing off-plan properties receive high rental income with much smaller investments. On average, it varies between 5 and 9%.
- Low prices and flexible payment plans. Housing prices and new off-plan in Dubai are much lower than the prices of completed real estate. Developers also attract potential buyers with profitable payment plans, under which they make an initial payment on the day of the transaction and pay the rest of the amount in installments for the time specified in the contract.
- Laws to protect the rights of buyers. In the Dubai housing market, there are some rules to protect the rights of buyers of off-plan real estate. RERA (Real Estate Regulatory Authority) and DLD (Dubai Land Department) take numerous measures to prevent delays in the construction of residential units, project cancellations, and any fraudulent activity. One of these rules is that buyers must pay for off-plan real estate in DLD-approved banks.
- Capital gains. The cost of housing in a new off-plan building grows rapidly as each stage of the project is completed. Thus, while the buyer makes contributions according to the payment plan from the developer, he can watch his property grow in value.
Prices from developers for new buildings in Dubai
You can become acquainted with the cost of real estate in the off-plan residential complex in the table below:
|City area||Features||The initial cost of a residential unit (AED)|
|Downtown Dubai||Internet, balcony, air conditioning, furnished, dressing room, security, video surveillance, concierge, swimming pool, children’s playground||780,000|
|Dubai Marina||Internet, TV, terrace, panoramic windows, furnished, sauna, SPA, covered parking, security, concierge, swimming pool, children’s playground, garden||590,000|
|Dubai Hills||Internet, balcony, furnished, fitted wardrobes, recreation area, golf course, cinema, security, video surveillance, concierge, swimming pool, children’s playground, gym||720,000|
Buy an off-plan property in Dubai, the UAE
You can buy a luxury off-plan property for investment in Dubai (at the developer’s price) which could be a turning point in the life of any investor, inviting a new stream of income. Go to our website to find the best offers of off-plan units with up-to-date prices in euros and dollars. The company's representatives are ready to assist potential buyers in choosing housing options based on their preferences and affordability and will support you during the transaction.