Dubai is not only about oil and gas, but it is home to some of the modern architectural wonders like Burj Khalifa, Palm Jumeirah, Dubai Frame, and there is no end to this list. Real estate is one of the growing industries in Dubai due to government support and increased interest of international buyers.
However, property prices in Dubai are skyrocketing every year, making it difficult to invest in any property. But what if we tell you that you can buy remarkable properties in Dubai at a much more affordable price. Yes, you can buy off-plan property projects.
So, are you curious about what these projects are about? Then, read our blog to learn about best off plan projects in Dubai, benefits, and buying guide.
What is Off-Plan Property?
An off-plan property is a property that is still not yet built. In simple words, the construction of these properties is not completed, thus the name off-plan properties.
Off-plan properties can be bought during the construction process or even during the planning phase. These properties are sold by developers to get more funding or for other purposes. Therefore, off-plan properties are construction projects where the construction is not done.
Benefits of Off-Plan Properties
There are a few significant benefits of off-plan properties in Dubai, which include:
Affordable property price
The average per square foot price of fully constructed properties in Dubai ranges from AED 1,200 to AED 4,000 and more, depending on the location and the type of property, which is relatively expensive. However, if you look at Dubai property trends, you can buy off-plan properties in Dubai for a much better price, often with hundreds of AED differences when compared to average.
Latest amenities
Off-plan properties are often equipped with the latest amenities compared to already-built properties. In addition to that, you can customize the layout and design as per your interest at an affordable price range.
For instance, if you want to renovate already built homes, it’s going to cost you more because the remodeling company needs to remove the existing elements, develop a new plan, and renovate the space again.
Flexible payment plans
Another best advantage of off-plan Dubai property investments is that developers provide a wide variety of flexible payment options. These plans include post-handover payment plans, installments, 10:90 plans, rental plans, and many more.
In addition, for off-plan properties, developers often pay 4% registration fees and other legal related expenses, which buyers must pay by themselves in case of fully constructed properties.
High market price
Off-plan properties are more likely to give you a high return on investment. In general, off-plan properties are available at a much lower price than the standard properties. Once the construction is completed, the property is going to get more value, which means you might earn more if you are planning to sell it.
Top Off-Plan Properties in Dubai You Should Invest Now
There are more than 250 properties in the pipeline in Dubai, which are estimated to be completed between 2024 to 2030. Here are some of the best real estate projects in Dubai you should consider investing:
Sky Tower
Sky tower is an eye-catching 532-meter-high building with 122 floors. 1 to 4 bedroom apartments are available along with 5- and 7-bedroom penthouses that offer incredible bay and skyline view. They are available in various architectural style like French, Arabic, Greek, etc. The downpayment for this off-plan property is 20%.
Location: 57QV+G35, Business Bay
Builder: Tiger Properties
Year of completion: 2029
Palm Beach Tower 2
Who hasn’t heard about the iconic Palm Jumeirah? Palm Beach Towers are situated in Palm Jumeirah and offer apartments and penthouses (residential and hotels). The downpayment for these high-end towers starts at 15%, and they are equipped with lots of cutting-edge amenities like luxury dining outlets, watersports, swimming pools, and more.
Location: Palm Jumeirah
Builder: Nakheel
Year of completion: 2026
Damac Riverside
Damac Riverside properties are available as villas and townhouses (4 and 5 bedrooms) with 24% deposit. These properties are in close proximity to airports, hospitals, healthcare facilities, gardens, business centers, sports, and more. You can enjoy the riverside view, and the prices start at AED 1.99 million.
Location: Dubai Investment Park
Builder: Damac
Year of completion: 2026
Ghaf Woods
If you want to live in a cozy, luxurious residential community surrounded with greenery and plenty of leisure area, Ghaff Woods is the best off-plan property for you. The downpayment is 10% and they offer 60:40 plan as well. You can buy 1-to-3-bedroom apartments and 3-bedroom duplex apartments.
Location: Dubailand, near Global Village
Builder: Majid Al Futtaim
Year of completion: 2027
The Farmhouses
The perfect American and European-themed farmhouses are bought to you by Damac properties, available in 5 and 6 bedrooms. These farmhouses come with barnyards, gardens, horse stables, and water features, as well as a lush environment. The starting price of farmhouses is AED 6.22 million with 20% downpayment and 70:30 payment plan.
Location: Damac Hills 2
Builder: Damac
Year of completion: 2025
Tips to Follow When Buying Off-Plan Properties
One of the most common mistakes people often make is only seeing the benefits and the infrastructure of the off-plan properties and buying them right away. Here are some of the best practical tips you should follow when considering buying the best off plan projects in Dubai:
- Research about the developer or the builder: Consider their total years in the construction industry and see if they have successfully completed any projects before. This is because there are a few scam companies who often take money from the buyers and ditch the project later.
- Consider the payment plans: Ask the developer about the available payment plans and pick the method that best suits your financial situation.
- Construction completion tenure: It is best to invest in off-plan properties that have completion tenure duration of 2-3 years. Any property above 5 years is a little risky, so choose off-plan properties wisely.
- Expert assistance: If you want, hire a real estate agency or agent who can help you choose reliable off-plan properties to invest in. Go through the list of properties, see the terms, compare them, and choose the one that you like.
Wrapping Up
From residential properties to villas and commercial properties, there are plenty of ongoing off-plan projects in Dubai with innovative plans, modern amenities, and luxurious layouts. Dubai’s real estate industry is booming, and it is the best time to invest if you haven’t started yet.
Keep the above-listed tips in mind when buying off-plan properties in Dubai if you do not want to end up losing money. You can check properties.market to find available properties in Dubai along with a list of credible builders.
