Top best Project Status Analysis of New Units in Dubai

Real-time real estate data analysis by new fäm Properties seeks to help buyers and investors make more informed decisions.

Over the next five years, 387 new real estate projects totaling 163,840 new units are expected to be completed in Dubai.

A total of 24 residential and commercial developments are expected to provide 7,336 units for handover before the end of this year, followed by 63 (27,360) in 2018, 36 (19,850) in 2019, 12 (17,754) in 2020 one (114) in 2021, according to fäm Properties’ real-time study of the market today.

Another 251 projects (91,430 units) are either under construction or awaiting final inspection; developers have a 12-month window to complete and deliver these projects. In total, 90 new projects totaling 36,556 units have been launched in Dubai so far in 2017. Of the 8,529 units that have been delivered so far this year, 5,939 were done so on schedule.

Real estate supply in Dubai

Overall, 43 (7,878 units) of the 105 developments, totaling 29,158 units, have already been delivered. This means that the average delivery rate for a unit is 27% and the average delivery rate for a project is 41%

Over 80% of the construction on 59 projects totaling 16,993 units has already been finished. One of the biggest real estate brokerages in Dubai, fäm Properties, released the numbers today.

The fäm online tool also offers comparisons for properties ranging from studio apartments to five-bedroom homes across all of Dubai. A rental range index that pinpoints rates over ten years can be used by investors or end users eager to evaluate the possibility of rental yield.

 

Even though over the past ten years, rental prices for apartments in the same category in the same neighborhood have varied widely based on size and location, an important consideration in the purchase decision, the gap has dramatically reduced in the recent two to three years.

While the cost of renting a two-bedroom apartment in Downtown Dubai in 2009 fluctuated from AED260,000-150,000 per year to a low of AED120,000-95,000 in 2012, rates in December 2016 were AED180,000-160,000.

The entire skyline is changing quickly as Dubai prepares to host the World Expo 2020. With developments worth billions of dirhams already underway, major tourist and leisure destinations are taking shape around Dubai. Here are our top 10 projects to keep an eye out for.

Al Habtoor City

Three extremely opulent hotels can be found in Al Habtoor City: the city’s first St. Regis, a flagship W Hotel a brand-new The Westin Dubai with more than 1,600 opulent rooms. The city also boasts three opulent residential buildings, the 1,300-seat La Perle permanent water-based theatrical performance by Franco Dragoneseveralof shops, renowned restaurants upscale cafes, a boulevard, a marina promenade, a tennis school lavishly manicured gardens.

 

In addition, the unique development offers three opulent residential properties, Noura, and Amna Meera, in two 74-story towers and one 52-story tower. These luxurious residences feature chic apartments, including 12 penthouses, three of which are VIP penthouses containing contemporary apartments. Their lofts include large living areas, huge kitchens several balconies with breathtaking views of Dubai. With floor-to-ceiling windows, three single penthouses offer about 800 sq m of magnificent living space. Six duplex penthouses in the towers each include an L-shaped living and dining area with 862 square meters of space, providing homeowners with unhindered views of the private pool and Jacuzzi-planted garden. The three VIP penthouses are spread over four levels and feature opulent suites, many garden terraces, an open-air Jacuzzi, a gym, a sauna a steam room – the height of luxury.

Al Seef

Al Seef, which stretches for 1.8 kilometers along the Creek and is not far from the Al Fahidi Cultural Historical Neighbourhood, was created with Emirati culture at its center. Through performances and cultural events at their open-air amphitheater and open-air museum, art galleries, Emirati handcraft-selling boutiques, and traditional souks floating markets, visitors can relive the nation’s legacy, and travel through their past to immerse themselves in their culture. Visitors can access abrasion and dhows and get a peek at Emirati culture through activities like pearl diving and fishing boat building.

 

Additionally, there will be cafés and restaurants along the waterfront promenade where people can eat, unwind and continue to take in the quaint ambiance as dhows drift down the gorgeously tranquil river.

Bvlgari Resort Hotel and Marina Village

The fifth Bvlgari Hotels and Resorts facility worldwide will be exclusively situated on Jumeirah Bay Island, a seahorse-shaped island off the coast of Jumeirah Beach Road is being constructed by Meraas Holding. It was created by the Italian architectural firm Antonio Citterio Patricia Viel and Partners and is expected to open this year. The 1.7 million square foot complex will have 101 rooms and suites, 20 residential villas a marina surrounded by beautifully landscaped gardens, and a full complement of opulent amenities. A cove with a white sand beach and stunning views of the Arabian Gulf will be available to residents.

Dubai Frame

When it is finished by the end of the year, Dubai Frame, which is 150m high and 93m wide, will be one of the city’s distinctive and iconic icons. It will shine against the blue skies with its two golden towers and connecting bridge, living up to its legendary reputation. The three elements of the frame stand for Dubai’s past, present future. At the mezzanine level, visitors can take a historical tour of Dubai and learn about the development of the city via the use of fresh and contemporary presentation techniques.

With a 360-degree view of both Old Dubai to the north and Modern Dubai to the south, guests will experience both the old and the new at sky deck level. To enhance their experience in New Dubai, they will use interactive applications.

The final experience will be a virtual metropolis of Future Dubai that will transport visitors from the present to the glorious city 50 years in the future.

Bluewaters Island

Off the shore of Jumeirah Beach Residence is Bluewaters, a modern family-friendly island resort that is a Meraas initiative. It is a man-made, mixed-use island where a select number of opulent townhomes and penthouses apartments are located.

The world’s tallest observation wheel, Ain Dubai, which stands towering at 210m high, is easily found on the island. Bluewaters Island will house two luxury hotels and be one of the most popular tourist destinations in the world. It will also be a shopper paradise with a variety of dining and retail options. The Beach at JBR is also a short, stroll away.

The plan is to construct 10 residential towers, offering one-, two- and three-bedroom apartments. The island will be connected to the mainland via a direct roadway from Shaikh Zayed Road. A monorail system will operate and transport visitors on a driverless vehicular system to Dubai Metro Nakheel Harbour and Towers station. A pedestrian bridge will connect the island to the JBR seashore, offering its residents and guests a few minutes of good old peaceful walk.

Marasi Business Bay

Marasi Business Bay was created by Dubai Properties Group and introduced by Dubai Holding in May 2016. The Yacht Club and The Park The Pier are the three distinctively themed areas that makeup Marasi Business Bay, which will span 12 km of waterfront promenade along the Dubai Water Canal.

The project will include the first floating residences in the UAE, each with private boat access and unrivaled views of the Dubai Water Canal.

Five marinas with palm trees lining the waterfront will have 1,250 yacht berths available.

An open space of 250,000 sq. am with more than 100 shops and outlets are dispersed with local and international enterprises, parks the seaside promenade. Nearly 60,000 square meters make up the park.

Jewel of the Creek

Jewel of the Creek, a huge infrastructure project by Dubai International Real Estate, will be a posh location with 1,200–1,500 residential apartments and roughly 1,000 offices. It is in Deira, with a budget of Dh4 billion will be finished in two stages, the first of which will be this year and the second of which will be by 2019.

The first phase of Jewel of the Creek includes a flagship Roda five-star hotel with 438 rooms, four towers of serviced apartments, a 60-berth marina 20 shops, and restaurants. Water from the Creek was brought inside to make the island, where it was bound, salted filtered into a 400m by 4m swimming pool. a huge-scale The Dubai Dome, a 3,000-capacity multipurpose hall three hotels—a 389-room dry hotel, a 445-room stylish four-star hotel a 405-room connector three-star hotel will be located in the project’s second phase.

On the Deira side, the project is located halfway between the Al Maktoum Bridge and the floating bridge over Dubai Creek. Dubai International Real constructed the infrastructure.

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