In the second half of 2022, many new projects from some of the leading developers in the emirate were presented across the Dubai real estate market. We have prepared a selection of 5 new residential projects in the affordable price segment that will interest both experienced investors and beginners in buying property. These projects offer first-class design in different variations of floor plan areas and layouts, and with numerous amenities. The residential complexes will become an excellent place both for personal residence and as an investment asset, due to the well-developed social infrastructure and the advantageous location in freehold areas, near popular attractions, luxury restaurants and hotels.

Advantages of investing in Dubai real estate

Dubai’s real estate market is developing rapidly and offers foreign buyers an excellent investment environment. Various advantages include the absence of income tax for individuals, a favourable tax environment, a return on investment at a level of 6% to 9% per annum, as well as the possibility of obtaining an investor visa for 3, 5 and 10 years, with the minimum investment threshold constituting only AED 750,000 (USD 205,000). The government of Dubai is developing new strategies to attract more international investors. The possibility of buying with cryptocurrency opens up new prospects for investors, while real estate transactions have become even more transparent. Moreover, visa issuance will become more flexible and cover more than 10 types of entry visas, due to the visa reform, which was approved by the UAE Cabinet of Ministers back in April this year, and should come into force in October 2022. Visas will be issued according to simplified requirements, where, among others, obtaining a Golden Residence Visa for 10 years will become available to the wider public thanks to the reduction of the minimum investment amount to AED 2,000,000 (USD 545,000), for the purchase of finished residential property. The UAE is also becoming the best place for both investment and a permanent residence. The UAE took the leading position in factors such as bureaucracy, housing, professional prospects, language, digital life, healthcare, security, labour protection, job satisfaction, leisure opportunities, as well as wages, according to the index by InterNations, which is the German research network.

TOP 5 new projects in Dubai

Below, we will look at some of the latest off-plan residential projects that have entered the Dubai real estate market in Q3 2022.

Binghatti Luna

The Binghatti Luna residential complex by Binghatti Developers is situated in the freehold area of Jumeirah Village Circle. The number of storeys in the building is 20, while the total number of residences for sale constitutes 212. Properties are presented by apartments with 1 and 3 bedrooms, with living areas ranging from 613 sq. ft to 1,485 sq. ft. The complex offers premium amenities such as a gym, outdoor swimming pools for adults and children with places to relax, secure parking, as well as a shopping area on the podium floors. The Binghatti Luna development will be located near Sheikh Mohamed Bin Zayed Road, in which residents will be able to easily reach important places within the emirate by car and public transport. Supermarkets, kindergartens, parks, cafes and restaurants can be reached within 15 minutes on foot.

<ul><li>Project handover date: September 2023.</li><li>Starting sale price: from AED 690,000 (USD 188,000).</li></ul>

Binghatti Crest

The Binghatti Crest project from Binghatti Developers is a modern residential complex which consists of a basement, 4 podiums and 19 residential floors. Properties are presented by 1-3 bedroom apartments with living areas ranging from 721 sq. ft to 1,249 sq. ft. All residences for purchases will come with balconies, panoramic windows and sliding glass doors, which will provide natural light into the room throughout the day. The master plan of the project includes amenities such as children’s and adult swimming pools with sun loungers, covered parking, a gym and retail stores. The strategic location of the Binghatti Crest complex in the Jumeirah Village Circle (JVC) area, and its close proximity to Sheikh Mohammed Bin Zayed Road (E 311), will provide fast transport links to other areas of Dubai.

<ul><li>Project handover date: October 2023.</li><li>Starting sale price: from AED 694,000 (USD 189,000).</li></ul>

Oakley Square Residences

Oakley Square Residences is the new residential project from the Ellington Properties developer. The complex will offer 269 residential units, including studios and apartments with 1-2 bedrooms. Floor plan areas of units range from a compact 409 sq. ft to a more spacious 1,518 sq. ft. All the properties within the four floor complex will come with private balconies and panoramic windows, while some apartments will be supplemented with offices. Oakley Square Residences is located in the JVC area and will offer its residents excellent amenities, including a fitness center, swimming pools with sun loungers and changing cabins, a tennis court, a cinema room, padel court, multipurpose spaces, play areas, outdoor terraces, lounge areas and much more. One parking space will be allocated for each real estate unit and a bicycle storage area will be available, along with electric car charging stations.

<ul><li>Project handover date: Q2 2024.</li><li>Starting sale price: from AED 850 000 (USD 231 400).</li></ul>

Note! Foreign citizens can purchase real estate in the emirate of Dubai using various payment methods, including a mortgage. We advise you to familiarize yourself with the calculations for the minimum income for buying real estate in Dubai.

Creek Vistas Heights

The Creek Vistas Heights development from Sobha Realty is a residential complex consisting of two buildings with a height of 51 and 57 floors. The complex is located in the Sobha Hartland area and offers apartments in a standard configuration with 1-3 bedrooms, as well as residences with 1.5, 2.5 and 3.5 bedrooms, complemented by offices. Living areas of housing units in this development range from 613 sq. ft to 1,884 sq. ft. Facilities in Creek Vistas Heights comprise a swimming pool, a parking area, a children’s playground and a gymnasium. All the necessary infrastructure for the most comfortable living will be created in the Sobha Hartland area, after the completion of the district. As of today, the North London Collegiate School and Hartland International School Dubai are both already operating in the area.

<ul><li>Completion of construction: July 2026.</li><li>Starting sale price: from AED 1,220,000 (USD 332,200).</li></ul>

Lamaa

The Lamaa complex by Meraas is located in the highly popular Madinat Jumeirah Living (MJL) community. The new residential project will consist of 4 buildings with a common podium. The total number of residences constitutes 372 and properties are presented by apartments with 1-4 bedrooms. Living areas range from 721 sq. ft to 3,530 sq. ft. The layout of residences with 3 and 4 bedrooms includes a maid’s room. The residential project offers the following facilities, such as fitness center, a kindergarten, playgrounds, parks, swimming pools and walking areas. The MJL area is located off the coast of the Arabian Gulf, where all conditions for a resort holiday are created, along with a well-developed social infrastructure. The close proximity to the Sheikh Zayed Road (E11) highway will allow residents to easily move around the rest of the emirate and reach key destinations within a short period of time. Completion of construction: Q4 2025. Starting sale price: from AED 1,450,000 (USD 395,000). Note! If you are considering buying a ready-to-move-in property, we recommend you to familiarize yourself with our selection of the best residential projects in Dubai, which all have an excellent location and allow owners the possibility of obtaining a 3-year investor visa.

How can we help?

The Dubai real estate market offers many options for real estate investment, therefore to prioritize the purpose of investment (for personal residence / rental / resale), the type and area of the object, its location, as well as the state of the market itself is very important. We at Metropolitan Premium Properties are ready to offer you our services in the selection and search of real estate for living and investment, we negotiate with the seller, take care of all the main concerns regarding the collection of documents, as well as the execution of the transaction on your behalf. Our highly skilled real estate agents will take care of everything for you, saving your time and resources by conducting a deal in accordance with UAE law. If you invest in order to receive passive income in the future, we will take care of reselling your real estate at a higher price by organizing an advertising campaign or you can use our property management services where you will be able to receive a stable passive income from anywhere in the world.