7 best neighborhoods for buying off-plan real estate in Dubai
The statistics for the last two years claim that more than 80% of the population of Dubai is foreigners. Some of them are expats looking for better job opportunities. Most expatriates live in the country for a period of one year to 50 years or more. For most immigrants, the UAE is a second home, and many of them never return to their home countries after retirement. Quality of life, tax-free income and savings are the main reasons for this trend. Investing in luxury off-plan flats in Dubai is a wise decision that can bring significant benefits in the near future.
In this article, we are going to discuss 7 popular neighborhoods in Dubai to invest in premium off-plan housing.
Investments in premium off-plan housing
Off-plan real estate is the purchase of an object at the stage of construction. Apartments may yet exist only as a plan or foundation pit, bare walls or just started decorative finishing, but they have an address, description and price. The price of such an apartment is much lower than that of a similar one, already ready for occupancy. It is the difference in price that makes the real estate attractive for investment – the cost of a square meter is growing with every floor added by the builders, and on the day of the official commissioning, it adds up to 20%.
What areas of Dubai are the most popular for investing off-plan and getting a clear profit?
7 areas of Dubai for investing off-plan
According to the laws of the UAE, there are more than 45 freehold zones where foreigners can buy real estate. We have identified 7 neighborhoods with attractive off-plan projects:
- Meydan;
- Creekside;
- Maritime City;
- Arjan;
- Al Sufouh;
- Downtown Jebel Ali;
- The Opera District.
Meydan
Meydan City offers a wide range of residential real estate, from apartment complexes and hotel towers, to villas and townhouses. In addition, the main shopping street Meydan Avenue has a lot of commercial space, and in the clusters of Meydan One and Meydan Gated Community there are a large number of apartments and villas. All real estate in MBR City is built with environmental safety and renewable energy sources in mind.
Creekside
Dubai Creek is the area where the first developments of Dubai appeared. The neighborhood is known as a walkable neighborhood. There are plenty of playgrounds for children, areas for walking, and, of course, biking and walking paths, the area has easy access to the beach. For families with children, supermarkets, cafes, entertainment centers and kindergartens are especially convenient. There are also no problems with medical centers and educational institutions. Since the area is close to business centers, this place is ideal for young professionals.
Maritime City
Maritime City is a man-made peninsula, which is a promising alternative to the Jebel Ali Free Zone. The multifunctional business district includes office centers, residential and retail spaces.
The most promising cluster for investments in the Dubai Maritime City area will be the Maritime Center, where residential apartments, office space and luxury hotels will be located. On average, the return on investment will be 4-8% per annum. Considering the quick pace of evolution, Maritime City is a highly attractive place for investing off-plan.
Arjan
Arjan is an organic part of the larger Dubailand neighborhood, a chamber-like cozy urban community with vibrant tourist facilities planned for construction.
Arjan will provide the Dubailand project, which includes more than 150 buildings of various purposes: offices, residential complexes and, most importantly, mixed-use buildings, convenient for all kinds of investments in different types of housing.
Al Sufouh
The neighborhood of Al Sufouh is located on the shores of the Persian Gulf, near the popular resort area of Palm Jumeirah open for the affluent public. But despite this, Al Suhuf has its own interesting places, for which the majority of tourists come here. For example, the main pier of Dubai, which in recent years is very actively built up.
Al Sufouh area also contains many hotels, the Dubai College, the stadium and the numerous stores and centers, for which Dubai is so famous.
Downtown Jebel Ali
It is currently under construction, and according to developers’ plans, full completion is expected by the end of 2025. However, already this elaborate community attracts expats and tourists. Premium real estate located in the epicenter of green space is an ideal option for investors or families.
All the facilities necessary for daily life are located in the area. Since Jebel Ali focuses on family values, kindergartens and schools will be located in close proximity. Also in the area there are many supermarkets, restaurants and cafes, medical facilities.
The Opera District
The area of the Opera District is represented by luxurious hotels, premium apartments, multiple facilities and walking paces. It is also a well-known cultural center of the emirate.
Residential real estate in the new district is represented by truly luxurious apartments and penthouses. Hotel complexes of ultra quality and first class service are available as well. The apartments are located in modern skyscrapers, which have all the necessary amenities for comfortable living and recreation.
Help in making a rational investment
The real estate agency Dubai-Luxury.Property provides help to all clients taking into account their needs, references and budgets. The team of professional real estate agents is able to select the suitable housing unit off-plan and start making money.
When you contact Dubai-Luxury.Property, you get the next benefits:
- off-plan properties from the reliable developers;
- support at each stage of a deal;
- in-depth knowledge of legislation;
- excellent awareness of risks and ways of dealing with them;
- time and money saving.
The bottom line
Dubai offers an abundance of variants of real estate off-plan and already delivered in various neighborhoods. Still, most foreign investors prefer to invest in properties under construction. As the reality is that once the building is completed, its price will increase. Therefore, if you are looking for a good return on your investment, it is wise to consider buying a property at the project or construction stage.
