Off-Plan Projects in Dubai: The Ultimate Guide to Investing in Dubai Property
So, then, why invest in Off Plan Properties in Dubai in the coming years?
For many years, Dubai’s real estate market has been a favorite for investors, and in 2024 off-plan properties remain playing a significant role in its continued success. Yet there has to be something about Dubai that makes it such an enticing location for real estate investments, and what about off plan properties specifically? To learn more about what it is that keeps Dubai such a powerful location for real estate investments, let’s have a closer look at the current data.
A Growing Market: These are the Numbers Behind Dubai’s Real Estate Boom
Last year, Dubai Property Investment grew strongly, with a 12% rise in property transactions year on year. What’s also interesting is the fact that half of all real estate transactions were off plan properties. It means that there is a firm demand for off-plan units and the market isn’t relenting.
Even further off plan transactions have surged looking ahead to 2025. For the year, off-planned property deals worth AED 15 billion were registered in the first quarter. It is a 14% increase compared to the same period last year and further testament to the off plan market gaining momentum in attracting local and international investors.
There is more than just the volume of transactions that makes off plan properties so appealing; it’s the value they provide. The reason Dubai boasts high numbers of off-plan investors is due to the flexibility with payment plans, an attractive price point, and the potential for high returns. The strong and sustained growth in this sector speaks volumes about this as the Dubai Land Department (DLD) reports that over 20,000 units will be completed and handed over in the next year.
Why are Off Plan Properties in Dubai so Attractive?
Real estate investors, both local and international, are lapping up on off-plan properties. What separates them, though? Here’s why Dubai’s off-plan market continues to thrive in 2024:
1. Lower Initial Investment
Off plan projects in Dubai typically are offered at more affordable entry points as opposed to completed property. Usually, the investors would have to pay a 10%-30% deposit and then the rest through installments during the construction period. Developers even give post-handover payment plans up to even 5 years long, with some making it even more straightforward for investors to fit their budgets.
2. Capital Appreciation Potential
Known for their capital appreciation potential, off-plan properties are one of the most attractive aspects of this investment. Dubai is moving swiftly, and lots of off-plan developments are situated in the rapidly developing neighborhoods, with demand skyrocketing. Dubai Creek Harbour, for instance, has seen property prices rise by 28 percent over the past two years, with experts touting growth as the iconic Creek Tower draws closer to completion.
Furthermore, Business Bay had a 12% increase in off-plan property prices in 2023 alone, making it a place of interest for investors for high returns, according to JLL’s Dubai Real Estate Market Review.
3. High Return on Investment (ROI)
Off-plan property investors can make some of the best returns by investing in the Dubai real estate market but the rental yields in prime areas like Dubai Marina, Business Bay and Dubai Hills Estate range from 6% to 9%. Rental yields from these properties are far beyond that experienced by large cities such as London (3.5%) and New York (4%).
The most attractive aspect is seeing the 26% growth in ROI for top locations such as Dubai Creek Harbour in the past two years, as revealed in the Dubai Real Estate Market Review by JLL. The strong return here, with possibilities for capital appreciation makes Dubai a very profitable area for investments on real estate.
Dubai’s off-plan properties continue to yield high rental yields and great capital gains and present excellent values for both international investors and residents
4. Favorable Tax Environment
One of the most attractive aspects of Dubai to investors is its tax-free environment. No capital gains tax, no inheritance tax, and the property transfer tax is low at only 4%. Dubai is not only an attractive market but even more so than other real estate hotspots where taxes can eat into a large chunk of returns.
Top Areas for Off-Plan Property Investment in Dubai in 2024
Dubai Creek Harbour
Emerging rapidly as one the most sought after investment hubs in Dubai, Dubai Creek Harbour has the world’s highest views of the Creek Tower to look forward to as the world’s tallest building. A waterfront lifestyle with retail, residential and recreational activities is promised.
Since 2022, property prices in Dubai Creek Harbour have risen by 28% owing to the area’s high growth potential. Situated just 20 minutes away from Downtown Dubai, the property demand will continue to surge as the area grows into new development and key infrastructure projects.
Best Off-plan Projects in Dubai Creek Harbour
Emaar The Cove 2
- 1, 2, 3 & 4 Bed Apartments
- Starting Price – AED 1.3 Million
Emaar Savanna
- 1, 2 & 3 Bed Apartments
- Starting Price – AED 1.2 Million
Emaar Altus
- 1, 2 & 3 Bed Apartments
- Starting Price – AED 1.6 Million
The Heart of Commercial Dubai, Business Bay
In Business Bay plan property investment, the most lucrative area is, and it is just a few minutes from the iconic Burj Khalifa. It’s a famous district of the city renowned for its modern skyscrapers and commercial spaces for this reason, it’s for persons who prefer to invest in high-yielded residential units near the city’s financial core.
Rental and sales business demand is high, and ROI is around 7 % to 8 % and growing in Business Bay.
Best Off-plan Projects in Business Bay
Binghatti Skyrise 2
- Studio & 1 Bed Apartments
- Starting from AED 1 Million
Danube Bayz 102
- Studio, 1, 2, 3 & 4 Bedroom
- Starting from AED 1.2 Million
One By Binghatti
- Studio, 1, 2, 3 & 4 Bedroom
- Starting from – AED 1.1 Million
Luxury Waterfront Living in Palm Jumeirah
Still one of Dubai’s most prestigious addresses. Prices for off-plan properties here start from AED 8M and above, and ultra-luxury residences remain in demand. Top of their game properties here with private beach access and world-class amenities.
In the meanwhile, rental yields of 5 – 7% and the area’s fame guarantee investors ongoing development and the area will increase by 15 – 20% within two years.
Best Off-plan Projects in Palm Jumeirah
The Alba Furnished Residences
- 2 & 3 Bed Apartments
- Starting Price – AED 21 Million
Villa Amaya
- 5 Bedroom Villas
- Starting Price – AED 100 Million
Nakheel Como Residences
- 3, 4 & 5 Bed Apartments Duplex And Penthouse
- Starting Price – AED 52 Million
JVC – Affordable, Affordable & with High ROI
The JVC is a cheap off-plan investment area with still good rental yields. JVC’s property values had risen 16 percent over a year ago and the area is developing. JVC is very cheap for first-time investors and has 6%-8% rental yields. It’s forecast to appreciate at a rate of 20% to 25% as the area continues to grow over the coming years.
Best Off-plan Projects in JVC
Azizi Ruby
- Studio, 1, 2 & 3 Bedroom Apartments
- Starting from – AED 0.6 Million
Binghatti Ruby
- Studio, 1, 2 & 3 Bed Apartments
- Starting from AED 0.6 Million
Legado by Prescott
- Studio, 1, 2, 3 & 4 Bedroom
- AED 0.6 Million
Conclusion: Future Dubai Off Plan Properties
The global economic climate has cooled, and Dubai remains one of the best real estate investor markets in the world on account of good growth, high demand, and good returns. There are so many options for investors in Dubai 2024 and beyond.
