Dubai is a popular place for real estate investment, and for good reason. Its strong economy and active real estate market provide many opportunities for investors to diversify their portfolios. One growing trend in Dubai real estate is off-plan properties as they are highly appealing to investors.
When you compare the drawbacks and advantages of buying off-plan property in Dubai, it shows that the benefits outweigh the drawbacks. That’s mainly because of city’s prime location, high living standards, value, and business-friendly policies.
Today, we are going to talk about some of the best areas to buy off-plan properties in Dubai. Let’s get started.
What Are Off-Plan Properties in Dubai?
Off-plan properties in Dubai are those that are still being built or planned. Investing in these can be more beneficial than buying completed properties. Off-plan properties often come at lower prices and have the potential for greater returns.
Additionally, off-plan properties usually offer flexible payment plans, which allow investors to pay in installments over time. Many leading developers in the area are continually launching new off-plan projects to attract buyers and investors.
Best Areas to Buy Off-Plan Properties in Dubai—Affordable Projects
Following are some affordable off-plan projects in Dubai.
1. Jumeirah Village Circle (JVC)
Jumeirah Village Circle is a rapidly expanding community that offers a variety of affordable off-plan properties. This area is perfect for families and young professionals, and it features excellent amenities like parks, supermarkets, schools, and restaurants. Investors can choose from a diverse selection of apartments, townhouses, and villas.
Popular Off-Plan Projects in JVC
- Stonehenge Residences by Segrex
- The Orchard Place
- Westwood Grande by Imtiaz
- Maimoon Gardens by Fakhruddin Properties
- Elitz by Danube Properties
- Hillmont Residences by Ellington Properties
- 99 Park Place by Tabeer Real Estate
- Maison Elysee by Pantheon Development
2. Dubai South
Dubai South is an emerging community with a mix of ready and off-plan projects. Among the notable developments are The Pulse Residences, South Bay, Orchid Homes, and The Pulse Beachfront Villas.
South Bay, an off-plan project in Dubai South, is strategically located near Al Maktoum International Airport and Expo City Dubai. It will feature a variety of villas, townhouses, and modern amenities.
Orchid Homes in Dubai offers luxury living with modern design and top-notch amenities for various lifestyles. It focuses on sustainability and innovation by providing eco-friendly options while being budget-friendly, with 1 and 2-bedroom apartments. Residents can enjoy features like a rooftop pool, gym, and nearby attractions, all within a vibrant community.
Greenway at Emaar South by Emaar Properties will offer elegantly designed 3 to 4-bedroom townhouses and spacious 6-bedroom semi-detached homes, spread across four beautifully designed clusters.
3. Al Furjan
Al Furjan is becoming a sought-after location for off-plan projects. It offers a range of properties, including townhouses, apartments, and villas, all with flexible payment options. The community features excellent amenities and is well-connected to the rest of Dubai through major roads and public transport, including the Dubai Metro.
Upcoming Residential Developments in Al Furjan
- Millennium Talia Residences by Deyaar
- GEMZ by Danube Properties
- The Stella Residences
- Tilal Al Furjan Phase 1 by Nakheel
4. Arjan
Arjan presents attractive investment opportunities in one of Dubai’s fastest-growing residential areas. Located within Dubailand, it is known for its popular attractions like the Dubai Miracle Garden and Dubai Butterfly Garden. Investors can explore a range of off-plan projects that offer competitive prices.
Notable Off-Plan Projects in Arjan
- Vincitore Volare by Vincitore Realty
- The Central Downtown
- Trinity by Karma
- Arbor View by Ellington Properties
- Kyoto by ORO24 Developments
5. DAMAC Hills 2
DAMAC Hills 2 (D2) is a favored area for families; it offers top-notch amenities and a focus on sustainable living. The community is still under development and will include facilities like parks, sports facilities, and supermarkets.
D2 is known for its affordable villas, with many off-plan and completed developments available at attractive prices. Current and upcoming projects include:
- Camelia Villas
- Park Greens by DAMAC
- Verona by DAMAC
- Farmhouses by DAMAC
- Evergreens by DAMAC Properties (apartments)
- Elo by DAMAC Properties (apartments)
- Natura by DAMAC Properties (townhouses)
Best Areas to Buy Off-Plan Properties in Dubai—Luxury Projects
1. Dubai Hills Estate
Dubai Hills Estate is an expansive community surrounded by lush greenery and stunning views. It features a championship golf course and easy access to major highways. This centrally located development offers excellent amenities, including parks, schools, and healthcare facilities, making it ideal for families.
Notable projects include 399 Hills Park and Golf Grand by Emaar Properties.
2. Expo City Dubai
Expo City Dubai continues the legacy of Expo 2020. It offers a vibrant new district with various off-plan residential and commercial projects, including apartments, villas, and townhouses.
This area features modern living spaces like Mangrove Residences and Sky Residences, along with luxurious villas such as Shamsa Townhouses and Yasmin Villas, all set amid beautiful green landscapes.
3. Dubai Creek Harbour
Dubai Creek Harbour is an exciting area for off-plan investments, known for its beautiful waterfront views and extensive amenities. The development aims to be a key waterfront community in Dubai, featuring over 30,000 residential units, including luxury apartments and penthouses.
Prominent projects include Rosewater Creek Beach and Palace Residences North, all by Emaar Properties.
4. DAMAC Lagoons
DAMAC Lagoons is a luxurious waterfront development that consists of eight clusters of villas and townhouses, each inspired by a famous holiday destination. Residents can enjoy spacious living areas, and stunning architecture. It offers a range of amenities, including sports facilities and swimming pools.
Key clusters include Portofino and Santorini, offering a blend of luxury and beautiful waterfront living.
5. Tilal Al Ghaf
Tilal Al Ghaf is a unique community centered around a stunning lagoon, offering luxury villas and mansions within a 300-hectare area. This master-planned community includes outdoor facilities like cycling and running tracks, along with a large lagoon and beach.
Potential buyers can choose from high-end townhouses and villas, with popular projects including Serenity Mansions and Aura Gardens.
6. Mohammed Bin Rashid City (MBR City)
Mohammed Bin Rashid City is a well-planned neighborhood near major roads, featuring private beaches, parks, schools, and shops. It offers a wide variety of off-plan projects, making it a great investment opportunity.
Notable developments include MAG Keturah Reserve and Sobha One by Sobha Realty.
Frequently Asked Questions
Is it worth buying off-plan property in Dubai?
Yes, off-plan properties in Dubai are worth investing in. Off-plan properties are a smart choice for long-term investment. They are ideal if you’re looking for steady growth and future profits, allowing you to benefit from Dubai’s growing real estate market. Besides, they are cheaper than ready-to-move-in properties and offer flexible payment plans.
Can I get a loan on off-plan property in Dubai?
Yes, both residents and non-residents in Dubai or UAE can obtain a mortgage to purchase an off-plan property or to cover the payment at handover. However, it is important to know that mortgages for off-plan properties often have certain restrictions and are usually available only for projects by well-known, established developers.
What happens if you can’t pay for your off-plan property in Dubai?
If the buyer fails to meet their obligations, the DLD will provide a document showing the property’s completion percentage. What’s more, depending on the completion percentage, the developer can take various actions, such as holding onto payments, auctioning the property, or canceling the Sales and Purchase Agreement (SPA) and refunding the buyer.
How much is the off-plan fee in Dubai?
Buyers need to pay a registration fee of 4% of the total property price to the Dubai Land Department (DLD). Additionally, there is a transfer fee of AED 3,500 for properties valued at less than AED 500,000.
Summing it up
Investing in off-plan properties in Dubai is one of the best ways to score a highly profitable deal at an affordable price. What’s more, the ratio of returns is also higher, while payment plans are flexible. The above-mentioned are some of the best areas to buy off-plan properties in Dubai.
Feel free to reach out to us to inquire about the off-plan and ready-to-use properties in Dubai.