The Top 5 Residential Complexes Under Construction in the UAE for Modern Living
Life in most of the fancy cities of the United Arab Emirates is in many ways shy away from local, boring or uneventful. Even the mere sightings of many postcard and aesthetic backgrounds can significantly lift one’s mood, and more so looking at the blue ocean waters that outlines many of its cities. The truth here is that many of the natural beauties of the UAE are not natural at all. They have been created by mankind using the best of technologies to map out the design, and even the best for the maintenance.
Life in the UAE is tranquil, beautiful, natural and very alluring. The people are welcoming, and the culture is absorbing of foreigners. If you intend to buy apartments in residential complexes in UAE it would be great to check out some of the top-rated properties being developed in various parts of the UAE for 2023.
Picking Residential Cities Per City in the UAE
The UAE is a vast empire having seven major cities and many more districts where the Arabian lifestyle permeates all of the beings of the country, coupled with the Muslim orientation. Depending on your reason for coming into the country, you can choose to reside in any of the regions, and cities. Based on reviews gathered from across the world, the country is a wonder and there are many amazing spots for tourists regardless of where you reside. Read more on the official website Emirates.Estate.
Focusing on the topic of this article, the UAE premium real estate is characterized by mostly iconic skyscrapers, state-of-the-art villas and complexes, and museum category housing that are beyond the ordinary. These categories of properties often have a high rating when they are already complete, meaning the best time to invest in them is when they are at the off-plan stage or during construction. (This is because that is when the value is best priced. Once it is complete, it is likely to add more fees and increment in value.)
What is Off-Plan?
Here, you buy the property before it is built based on the plan presented by the developer or you come in, while the property is still at the construction stage. It is the best time to get best value/price.
If your plan is to use this route, the best thing to do is to ‘catch them young’ – that is, invest in the earliest available opportunities. You will know the earliest available opportunities by research. That is why the aggregator has conducted field tests/research and come up with the best and top residential complexes/sky scrapers/buildings in their early stage which is yet, most anticipated upon, or highly famous and reputable in the property world. These buildings will be handpicked from various cities of the UAE.
The Davinci Tower
This is located in the Dubai Water Canal at Dar Al Akhan. The Davinci tower does not only have a great name, but it is embellished impeccable property units of two-, three- and four-bedroom apartments, now being offered to the public under an off-plan arrangements. It consists of the first ever Pagani Interior units in the UAE. You will have to pay on a 20-40-40 post-handover basis. That is, you will pay 20% down payment, 40% during construction, and 40% after handover (within 2 years). Handover is currently scheduled for December 2023. It is about 20 minutes drive from the Dubai International airport and less than 5 minutes from Dubai Downtown.
The Reem Townhouses
The Reem Townhouses have a starting price of about 1.6 million AED but may go up more than that. They offer two- and -three-bedroom townhouses in a location only a stone’s throw from the Town Square Dubai Park. The area is highly domesticated with lawns, jogging trails, children’s play areas, but it is at least 20 minutes drive from other prominent Dubai locations, while the international airport is about 28 minutes away. You can pay in up to six instalments. Completion date is fixed at the last quarter of 2023.
Missoni, Urban Oasis
Located by the Dubai Water Canal, the price of Missoni begin at about 600 000 AED, offering penthouses and studio apartments of 1- 4 bedrooms. These luxury homes have luxury elevators, and the payment can be split into up to seven instalments. These are expected to complete in December 2023, and you will have to make a downpayment of 30%, and then 10% on completion of the project, while the remaining 60% is split across six instalments.
The Edge, Business Bay
You are welcome to the Edge of the Select Group Developers, Business Bay. Offering properties starting from 1 million AED and above, the Edge is still quite in an early stage as it is expected to be completed in 2026. You will be required to make an instalment of 40% upon construction, while the 60% can be split across smaller instalments post-handover. These are standard modern properties everyone will love.
Damac Bay 2, Dubai Harbor
Lastly is the Damac Bay 2 which is projected for completion in 2028. This is also in its early stage and splendid for investments. You will need a deposit of 80% of the purchase price during construction, and 20% upon handover. There are premium luxury units with a starting price of 2.9 million.
When to Invest in these Budding Properties in the UAE?
You should watch out for these properties and it would be a good idea to make an investment as soon as possible, because when it comes to real estate in the UAE, the first to come, and often with the biggest smile (because they have the best offers) will have an advantage, while the latecomers had better be ready with some extra bucks. Either way, you can consider your preferences on location and property types vis-à-vis budget in deciding which of the properties to invest in. Make sure you conduct due diligence and have your agreements evidenced in writing.
Image from Unsplash.