Top 10 UAE residential projects to open in 2017
At a time when infrastructure developments in Dubai are synonymous with Expo 2020, several residential projects are either ready or scheduled to be completed for handover and occupancy in 2017.
Spanning ultra-luxury, luxury, mid-level and affordable categories, nearly 61,000 new housing units are scheduled for the market. A majority of these are located in Dubailand (7,000 units), Business Bay (4,000) and Dubai Sports City (4,000), with more than 75 per cent being apartments.
However, the fact that close to 13,000 units are meant to be completed in 2016 were delayed and pushed over to this year indicates that not all the accounted units may actually be delivered as slated.
Nevertheless, according to property consultants, approximately 2,500 residential units have been handed over across the emirate during Q1 2017. Of these, 88 per cent were apartments in Jumeirah Village Circle, Sports City, Silicon Oasis, and Dubailand, among others.
Following a random online survey of the properties market in Dubai, some of the projects that are complete or scheduled for completion during 2017 are:
1. Dubailand: Nearly 7,000 units, built as part of mini-communities, are expected to be handed over to buyers. Like in 2016, this makes Dubailand one of the biggest players in the residential projects segment. Majority of these units are in the mid-tier pricing range.
2. Dubai Wharf: The multi-million dirham Dubai Properties development consists of four towers, overlooking the historic Dubai Creek, in the middle of Culture Village. While one residential tower in the mixed-use waterfront project is complete, the developers had announced completion of two more towers by the end of Q1 and the last in Q4. There are nearly 600 studio, one-, two- and three-bedroom apartments in the upscale project located close to Al Jaddaf Metro Station. Culture Village is designed to include a six-kilometre waterfront promenade, retail and residential districts, restaurants, open spaces, walkways, and pedestrian bridges.
3. MBR City – District One: The first phase of District One, the first mixed-use development in Mohammad Bin Rashid Al Maktoum (MBR) City will be ready this year, with the remaining three phases scheduled to be complete after 2018. Developed by Meydan Sobha, the $10 billion project is located on Al Khail Road. Spread over 440 hectares, the project includes 1,600 luxury villas and the seven-kilometre Crystal Lagoons, the world’s largest artificial beach walk facility. An 8.8-kilometre cycling and jogging track has been open to public since late 2016. Among the other attractions of the development are retail, leisure and sports zones.
4. Serenia Residence, Palma Holding: Located on Palm Jumeirah Crescent, this upmarket beachfront residential-only project comprises 250 units. The $408 million, exclusive 7,896 square metre development includes one- to four-bedroom apartments and penthouse suites.
5. Al Habtoor City: Resting on the banks of the Dubai Water Canal on Shaikh Zayed Road, this $3 billion mixed-use project features two 74-storey and a 52-storey residential towers. Named Noura, Amna and Meera, the towers are scheduled to be ready by Q2. They will comprise 1,460 apartments, ranging from one to seven bedrooms, including loft-style units and penthouses. Some of the ultra-luxury VIP penthouses are designed to spread over four floors, boasting 360 degree views of the Dubai skyline. The complex has three luxury hotels that are already up and running – St Regis, W Hotel and Westin Hotel. The project will also have an exclusive theatre for a Franco Dragone Entertainment Group, La Perle. Among the dining places expected to open in the premises is the world’s first Bentley café.
6. Town Square, Nshama: Located near Al Barsha, this development is categorised as ‘affordable housing’. It features more than 3,000 townhouses and 18,000 apartments. While the townhouses are a mix of three- and four-bedroom units, the apartments have a spread of one-, two- and three-bedroom options. Spread across 31m square feet, nearly 3,000 units of the development are expected to be complete by Q4.
7. Champion Tower 1, Dubai Sports City: Comprising 135 housing units, the 20-storey tower opened for occupancy at the beginning of the year. The $41m project, with a total buit-up area of 114,124 square feet and developed by Shaikhani Group, has 49 studio, 50 one-bedroom, 30 two-bedroom and six three-bedroom flats. The group has 12 other tower projects worth nearly $1bn, comprising 2,100 units, in the pipeline.
9. Oia Residences, Dubai Motor City: Developed by Union Properties, this $125m project will include 269 residential units. The development will include duplex apartments with private gardens, terraces and direct access to the swimming pools. The developer is also working on another project – the $300m Vertex Towers in Motor City.
10. Roy-Mediterranean and Montrell, Al Furjan: Comprising 493 serviced apartments, the Azizi Developments projects are worth $140m. Roy-Mediterranean will comprise 271 units, including 224 studios and 47 one bedroom apartments, while Montrell will feature 222 units – 168 studios and 54 one bedroom units.
11. XXII Carat, Palm Jumeriah: As the name suggests, this ultra-luxury project by Forum Group will comprise 22 ultra-luxury villas. The private beachfront and gated community features seven-bedroom villas ranging from 8,000 to 13,000 square feet.