Off-Plan Properties Downtown In Dubai

Last Updated on August 8, 2023 by Bram Vermolen

Off-plan properties are properties that are sold before they are completed or even before the construction starts. Off-plan projects in Dubai can be a lucrative option for those who want to benefit from the potential capital appreciation and rental income of the property in the future.

One of the most popular areas for off-plan properties in Dubai is Downtown Dubai, also known as the heart of the city. Downtown Dubai is a vibrant and cosmopolitan district that features some of the most iconic landmarks and attractions in Dubai, such as Burj Khalifa, Dubai Mall, Dubai Fountain and Dubai Opera.

In this article, we will explore the off-plan property market in Downtown Dubai and answer some of the most frequently asked questions about it. We will also provide a community overview of Downtown Dubai and highlight its features and amenities.

About Downtown

Downtown Dubai is a master-planned development by Emaar Properties that covers an area of 2 square kilometres. It was launched in 2004 as part of the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, to create a world-class destination for living, working and entertainment.

Downtown Dubai is home to over 200,000 residents and attracts millions of visitors every year.

Downtown Dubai is divided into several sub-communities, such as Burj Khalifa, The Old Town, The Old Town Island, South Ridge, The Residences, Boulevard Central, Burj Views, The Lofts, Claren, Standpoint, 8 Boulevard Walk, The Address Hotels + Resorts, Vida Hotels and Resorts, The Address Residences Sky View, The Address Residences Fountain Views, The Address Residences Dubai Opera, BLVD Crescent, BLVD Heights, Opera Grand, Il Primo, Forte and Act One Act Two.

How Is The Dubai Downtown Real Estate Market?

The Dubai Downtown real estate market is one of the most dynamic and sought-after markets in Dubai. According to the latest data from Bayut, the average price per square foot for apartments in Downtown Dubai was AED 1,561 in November 2021, which was 9.6% higher than the previous year.

1. The average price for studios was AED 1 million, for one-bedroom apartments was AED 1.5 million and for two-bedroom apartments was AED 2.7 million.
2. The Dubai Downtown real estate market also offers a range of options for renters who want to enjoy the lifestyle and amenities of the area. According to the latest data from Bayut, the average rent per square foot for apartments in Downtown Dubai was AED 97 in November 2021, which was 3.2% higher than the previous year.
3. The average annual rent for studios was AED 60,000, for one-bedroom apartments was AED 85,000 and for two-bedroom apartments was AED 130,000.

How Is The Off-Plan Property Market In Downtown?

The off-plan property market in Downtown is one of the most active and attractive markets in Dubai. According to the latest data from Property Finder, there were 1,038 off-plan sales transactions in Downtown Dubai in the first nine months of 2021, which accounted for 9% of the total off-plan sales transactions in Dubai. The total value of these transactions was AED 3.3 billion.

The off-plan property market in Downtown offers a variety of options for buyers and investors who want to benefit from the potential capital appreciation and rental income of the property in the future.

Some of the most popular off-plan projects in Downtown are Burj Crown by Emaar Properties, Grande by Emaar Properties, Vida Downtown by Emaar Properties, Burj Royale by Emaar Properties and Dar Al Arkan Tower by Pagani.

These off-plan projects offer a range of apartments with stunning views of the Burj Khalifa, Dubai Fountain and Dubai Opera. They also offer premium amenities and facilities, such as swimming pools, gyms, spas, lounges, concierge services and more.

What Are The Benefits Of Off-Plan Property In Downtown?

Some of the benefits of off-plan property in Downtown are:

• Lower prices: Off-plan properties are usually offered at lower prices than ready properties, as developers want to secure funds and sell units quickly. Off-plan buyers can also benefit from discounts, promotions and incentives offered by developers.
• Flexible payment plans: Off-plan properties usually come with flexible payment plans that allow buyers to pay in instalments over a period of time. This can help buyers to manage their cash flow and budget better.
• Capital appreciation: Off-plan properties have the potential to appreciate in value over time, as the demand and supply of the area change. Off-plan buyers can also benefit from the price difference between the launch price and the completion price of the property.
• Rental income: Off-plan properties can generate rental income for investors once they are completed and handed over. Downtown Dubai is a popular area for renters who want to enjoy the lifestyle and amenities of the area.
• Customization options: Off-plan properties offer buyers the opportunity to customize their properties according to their preferences and needs. Buyers can choose from different layouts, finishes and fittings that suit their taste and lifestyle.

What Are The Disadvantages Of Off-Plan Properties In Downtown?

Some of the disadvantages of off-plan properties in Downtown are:

• Risks and uncertainties: Off-plan properties involve risks and uncertainties, such as delays, cancellations, quality issues, market fluctuations and legal disputes. Buyers should conduct due diligence and research before buying an off-plan property.
• Lack of physical inspection: Off-plan properties do not allow buyers to physically inspect the property before buying it. Buyers have to rely on brochures, floor plans, mock-ups and showrooms provided by the developer.
• Lack of immediate occupancy: Off-plan properties do not allow buyers to occupy the property immediately after buying it. Buyers have to wait until the property is completed and handed over by the developer.
• Lack of mortgage options: Off-plan properties do not offer many mortgage options for buyers who want to finance their purchase. Most banks and financial institutions require a minimum percentage of completion or handover before they provide a mortgage.

What Is The ROI On Off-Plan Properties In Downtown?

The ROI on off-plan properties in Downtown depends on various factors, such as the location, quality, features, demand and supply of the property. According to the latest data from Property Finder, the average ROI for apartments in Downtown Dubai was 5.4% in November 2021, which was higher than the Dubai average of 5%.

However, the ROI may vary depending on the specific property investment and unit type. The table below shows the average ROI for different types of apartments in Downtown Dubai:

Type	Average ROI (%)
Studio	5.8
1-Bedroom	5.6
2-Bedroom	5.2

Why Is Downtown Off-Plan Property Interesting For Real Estate Developers?

Downtown off-plan property is interesting for real estate developers because:

• It is a prime location: Downtown Dubai is a prime location that attracts local and foreign buyers and investors who want to live, work and enjoy in the heart of the city. It is also close to some of the most iconic landmarks and attractions in Dubai, such as Burj Khalifa, Dubai Mall, Dubai Fountain and Dubai Opera.
• It is a high-demand area: Downtown Dubai is a high-demand area that has a strong rental market and a high occupancy rate. It also has a high resale value and a high capital appreciation potential.
• It is a competitive edge: Downtown Dubai is a competitive edge for real estate developers who want to showcase their expertise, innovation and quality in one of the most prestigious areas in Dubai. It also helps them to build their reputation, brand and portfolio in the market.

Why Is Downtown Off-Plan Property Interesting For Real Estate Investors?

Downtown off-plan property is interesting for real estate investors because:

• It is a profitable investment: Downtown off-plan property is a profitable investment that can generate high returns in the form of capital appreciation and rental income. Investors can also benefit from the lower prices, flexible payment plans, discounts, promotions and incentives offered by developers.
• It is a diversified portfolio: Downtown off-plan property is a diversified portfolio that can help investors to reduce their risk and increase their exposure to different types of properties, such as residential, commercial and hospitality.
• It is a long-term vision: Downtown off-plan property is a long-term vision that can help investors to benefit from the future growth and development of the area. Downtown Dubai is part of the Dubai 2040 Urban Master Plan and the UAE Vision 2021, which aim to enhance the livability, sustainability and competitiveness of the city and the country.

Why Is Downtown Off-Plan Property Interesting For Off-Plan Buyers?

Downtown off-plan property is interesting for off-plan buyers because:

• It is a quality lifestyle: Downtown off-plan property offers a quality lifestyle for off-plan buyers who want to live in a vibrant and cosmopolitan community. Downtown Dubai has many amenities and facilities that cater to the needs and preferences of different segments of the population, such as schools, hospitals, hotels, supermarkets, shopping malls, parks, gardens and more.
• It is a future potential: Downtown off-plan property offers a future potential for off-plan buyers who want to benefit from the growth and development of the area. Downtown Dubai is part of Dubailand, one of the largest leisure and entertainment destinations in Dubai. It is close to some of the most popular attractions and landmarks in the city, such as Dubai Miracle Garden, Dubai Butterfly Garden and Dubai Science Park. It is also well-connected to the main roads and highways of Dubai, such as Sheikh Mohammed Bin Zayed Road, Umm Suqeim Road and Al Khail Road.
• It is a personal choice: Downtown off-plan property offers a personal choice for off-plan buyers who want to customize their properties according to their preferences and needs. Off-plan buyers can choose from different layouts, finishes and fittings that suit their taste and lifestyle. They can also enjoy features such as smart home systems, energy-efficient appliances, modern security systems and more.

What To Consider When Buying Off-Plan Properties in Dubai Downtown?

Buying off-plan properties in Dubai Downtown can be a rewarding investment, but it also involves some risks and challenges. Therefore, buyers should consider some important factors before making a decision, such as:

1. Developer reputation

Buyers should check the reputation and track record of the developer who is offering the off-plan property. They should verify the developer’s credentials, experience, portfolio, financial stability, customer reviews and ratings.

They should also check if the developer has obtained all the necessary approvals and permits from the relevant authorities, such as RERA (Real Estate Regulatory Agency), DLD (Dubai Land Department) and DREC (Dubai Real Estate Corporation).

2. Project location

Buyers should check the location and surroundings of the off-plan property. They should assess the accessibility, connectivity, infrastructure, amenities and facilities of the area. They should also consider the future plans and developments that may affect the value and demand of the property.

3. Payment plans

Buyers should check the payment plans and options offered by the developer for the off-plan property. They should compare the prices, discounts, promotions and incentives offered by different developers. They should also check the payment schedule, milestones, penalties and refunds in case of delays or cancellations.

4. Payment structure options

Buyers should check the financing structure options offered by the developer for the off-plan property. They should choose the option that suits their budget and cash flow. Some of the common payment structure options are:

• Cash payment: Buyers pay the full amount upfront or in one installment.
• Mortgage payment: Buyers take a loan from a bank or a financial institution to pay for the property.
• Post-handover payment: Buyers pay a percentage of the amount during construction and the remaining amount after handover.
• Rent-to-own payment: Buyers pay a monthly rent for a period of time until they own the property.

5. Due Dilligence

Buyers should conduct due diligence before buying an off-plan property in Dubai Downtown. They should inspect the property, review the contract, consult a lawyer and seek professional advice.

They should also read the terms and conditions, the fine print and the clauses carefully. They should also ask questions and clarify any doubts or concerns they may have.

6. Property Tax

Buyers should be aware of the property tax implications of buying an off-plan property in Dubai Downtown. They should know the fees and charges that they have to pay, such as registration fees, transfer fees, service charges, maintenance fees and VAT (Value Added Tax).

They should also know the tax benefits and exemptions that they may be eligible for, such as capital gains tax exemption, rental income tax exemption and mortgage interest deduction.

Community Overview Of Downtown

Downtown Dubai is a vibrant and cosmopolitan community that offers a range of options for living, working and entertainment. It has many features and amenities that make it an ideal destination for residents and visitors alike. Some of them are:

What Are The Most Popular Buildings In Downtown?

Some of the most popular buildings in Downtown Dubai are:

• Burj Khalifa: The tallest building in the world that stands at 828 metres and has 163 floors. It has residential, commercial and hospitality units, as well as observation decks, restaurants, lounges and a spa.
• The Address Hotels + Resorts: A collection of luxury hotels and serviced residences that offer stunning views of the Burj Khalifa, Dubai Fountain and Dubai Opera. They have elegant rooms, suites and apartments, as well as restaurants, bars, pools, gyms and spas.
• The Address Residences Sky View: A twin-tower complex that features luxury apartments, penthouses and sky collection units. It has a sky bridge that connects the two towers and offers panoramic views of the city. It also has a pool deck, a fitness centre, a spa and a restaurant.
• The Address Residences Fountain Views: A three-tower complex that features luxury apartments, penthouses and sky collection units. It overlooks the Burj Khalifa, Dubai Fountain and Dubai Mall. It also has a pool deck, a fitness centre, a spa and a restaurant.
• The Address Residences Dubai Opera: A two-tower complex that features luxury apartments, penthouses and sky collection units. It is adjacent to the Dubai Opera, a cultural and entertainment venue. It also has a pool deck, a fitness centre, a spa and a restaurant.

Which Transportation And Parking Spaces Are There In Downtown?

Downtown Dubai is well-connected to the rest of the city by various modes of transportation and parking spaces. Some of them are:

• Dubai Metro: The Dubai Metro is a rapid transit system that connects Downtown Dubai to other parts of the city. The Red Line and the Green Line have several stations in Downtown Dubai, such as Burj Khalifa/Dubai Mall, Business Bay, Financial Centre and Emirates Towers.
• Dubai Tram: The Dubai Tram is a light rail system that connects Downtown Dubai to other areas, such as Dubai Marina, Jumeirah Beach Residence and Al Sufouh. The tram has a station at Burj Khalifa/Dubai Mall, where it connects with the Dubai Metro.
• Dubai Bus: The Dubai Bus is a public bus service that covers various routes in Downtown Dubai and beyond. The bus has stops at major landmarks and attractions in Downtown Dubai, such as Burj Khalifa, Dubai Mall, Dubai Fountain and Dubai Opera.
• Dubai Taxi: The Dubai Taxi is a metered taxi service that is available 24/7 in Downtown Dubai and other areas. The taxi can be hailed on the street, booked by phone or app, or found at designated taxi stands.
• Dubai Trolley: The Dubai Trolley is a hop-on hop-off electric trolley service that runs along Mohammed Bin Rashid Boulevard in Downtown Dubai. The trolley has stops at various points of interest, such as Souk Al Bahar, Vida Hotel and Manzil Hotel.
• Parking spaces: There are plenty of parking spaces available in Downtown Dubai, both on-street and off-street. On-street parking is managed by the RTA (Roads and Transport Authority) and requires payment by coins, nol card, SMS or app. Off-street parking is available at various buildings, malls and hotels in Downtown Dubai and may require payment by cash or card.

Which Amenities, Schools And Healthcare Are There In Downtown?

Some of the amenities, schools and healthcare facilities in Downtown Dubai are:

• Amenities: Downtown Dubai has many amenities that enhance the quality of life of its residents and visitors. Some of them are Burj Park, a green space that offers views of the Burj Khalifa and the Dubai Fountain; Bay Avenue, a retail and leisure destination that features shops, restaurants, cafes and a skate park; and The Dubai Mall Zabeel, an extension of The Dubai Mall that offers more shopping, dining and entertainment options.
• Schools: Downtown Dubai has several schools that cater to the educational needs of its community. Some of them are Gems Wellington Primary School, a British curriculum school that offers classes from FS1 to Year 6; Jumeirah International Nursery, a nursery that follows the Early Years Foundation Stage (EYFS) framework; and Swiss International Scientific School in Dubai, an IB World School that offers classes from KG1 to Grade 12.
• Healthcare: Downtown Dubai has several healthcare facilities that provide medical services to its community. Some of them are The Dubai Mall Medical Centre, a multi-specialty clinic that offers outpatient care; Medcare Hospital Downtown, a hospital that offers inpatient and outpatient care; and Aster Pharmacy, a pharmacy that offers prescription drugs and health products.

Which Outdoor Activities, Fitness And Beauty Are There In Downtown?

Some of the outdoor activities, fitness and beauty options in Downtown Dubai are:

• Outdoor activities: Downtown Dubai has many outdoor activities that offer fun and excitement to its residents and visitors. Some of them are The Dubai Fountain Show, a spectacular water show that takes place every evening at the Burj Lake; Burj Khalifa At The Top, an observation deck that offers breathtaking views of the city from the 124th and 125th floors; and Dubai Ice Rink, an Olympic-sized ice rink that offers skating sessions and lessons.
• Fitness: Downtown Dubai has many fitness options that offer health and wellness to its residents and visitors. Some of them are Fitness First Platinum Club, a gym that offers state-of-the-art equipment, personal training and group classes; SoulCycle Dubai Mall, a cycling studio that offers high-intensity workouts with music and lights; and Yoga House The Dubai Mall Zabeel, a yoga studio that offers various styles and levels of yoga.
• Beauty: Downtown Dubai has many beauty options that offer pampering and grooming to its residents and visitors. Some of them are Sisters Beauty Lounge The Dubai Mall, a salon that offers hair, nail, skin and body services; Tips & Toes The Address Boulevard Hotel, a salon that offers nail, hair, skin and spa services; and The Spa at Palace Downtown, a spa that offers massages, facials, body treatments and hammam rituals.

Which Leisure Activities And Notable Landmarks Are There In Downtown?

Some of the leisure activities and notable landmarks in Downtown Dubai are:

• Leisure activities: Downtown Dubai has many leisure activities that offer entertainment and culture to its residents and visitors. Some of them are The Dubai Mall, the largest mall in the world that features over 1,200 stores, a cinema, an aquarium, a VR park and more; Dubai Opera, a cultural and entertainment venue that hosts various shows, such as musicals, concerts, ballets and operas; and Reel Cinemas The Dubai Mall, a cinema that offers various experiences, such as Platinum Suites, Dolby Cinema and ScreenX.
• Notable landmarks: Downtown Dubai has many notable landmarks that showcase the architectural and artistic excellence of the city. Some of them are Burj Khalifa, the tallest building in the world that stands at 828 metres and has 163 floors; The Dubai Fountain, the largest choreographed fountain system in the world that shoots water up to 150 metres high; and Dubai Opera House, a stunning structure that resembles a traditional dhow boat.

Which Restaurants Are Located In Downtown?

Downtown Dubai has a plethora of restaurants that offer a variety of cuisines and dining experiences to its residents and visitors. Some of them are:

• At.mosphere: A fine dining restaurant located on the 122nd floor of Burj Khalifa that offers European cuisine and panoramic views of the city.
• Thiptara: A Thai restaurant located at Palace Downtown that offers authentic dishes and views of the Burj Khalifa and the Dubai Fountain.
• Asado: An Argentinean restaurant located at Palace Downtown that offers grilled meats and seafood and views of the Burj Lake.
• Zuma: A Japanese restaurant located at DIFC that offers contemporary dishes and a stylish ambience.
• La Serre: A French restaurant located at Vida Downtown that offers bistro-style dishes and a chic atmosphere.

Which Supermarkets Are Located In Downtown?

Downtown Dubai has several supermarkets that offer grocery shopping and delivery services to its residents and visitors. Some of them are:

• Waitrose: A hypermarket located at The Dubai Mall that offers a wide range of products, such as fresh produce, bakery, dairy, meat, seafood, frozen food, beverages, snacks, health and beauty, household and more.
• Spinneys: A supermarket located at South Ridge Tower that offers a variety of products, such as fresh produce, bakery, dairy, meat, seafood, frozen food, beverages, snacks, health and beauty, household and more.
• Al Maya: A supermarket located at Burj Views Tower that offers a range of products, such as fresh produce, bakery, dairy, meat, seafood, frozen food, beverages, snacks, health and beauty, household and more.
• Carrefour: A supermarket located at The Dubai Mall Zabeel that offers a selection of products, such as fresh produce, bakery, dairy, meat, seafood, frozen food, beverages, snacks, health and beauty, household and more.
• Zoom: A convenience store located at various buildings and hotels in Downtown Dubai that offers a range of products, such as fresh produce, bakery, dairy, meat, seafood, frozen food, beverages, snacks, health and beauty, household and more.

Which Beaches Are Located Near Downtown?

Downtown Dubai is close to some of the best beaches in Dubai that offer sun, sand and sea to its residents and visitors. Some of them are:

• Jumeirah Beach: A public beach located along Jumeirah Beach Road that offers a long stretch of white sand, clear water, lifeguards, showers, changing rooms, sunbeds, umbrellas and water sports.
• Kite Beach: A public beach located along Jumeirah Beach Road that offers a wide stretch of white sand, clear water, lifeguards, showers, changing rooms, sunbeds, umbrellas and water sports. It is also popular for kite surfing and other activities.
• La Mer: A beachfront destination located along Jumeirah Beach Road that offers a sandy beach, clear water, lifeguards, showers, changing rooms, sunbeds, umbrellas and water sports. It also features shops, restaurants, cafes and entertainment options.
• JBR Beach: A public beach located along The Walk at Jumeirah Beach Residence that offers a sandy beach, clear water, lifeguards, showers, changing rooms, sunbeds, umbrellas and water sports. It also features shops, restaurants, cafes and entertainment options.

Which Malls Are Located Near Downtown?

Downtown Dubai is close to some of the best malls in Dubai that offer shopping, dining and entertainment to its residents and visitors. Some of them are:

• The Dubai Mall: The largest mall in the world that features over 1,200 stores, a cinema, an aquarium, a VR park and more.
• The Dubai Mall Zabeel: An extension of The Dubai Mall that offers more shopping, dining and entertainment options.
• Dubai Festival City Mall: A waterfront mall that features over 400 stores, a cinema, an IMAGINE show and more.
• Mercato Mall: A Mediterranean-themed mall that features over 140 stores, a cinema, a fun city and more.
• City Walk: An urban lifestyle destination that features over 300 stores, a cinema, a hub zero and more.

Which Churches, Temples And Mosques Are Located Near Downtown?

Downtown Dubai is close to some of the places of worship in Dubai that cater to the religious and spiritual needs of its residents and visitors. Some of them are:

• St. Mary’s Catholic Church: A Catholic church located in Oud Metha that offers masses, prayers, sacraments and community services.
• Gurunanak Darbar Sikh Temple: A Sikh temple located in Jebel Ali that offers prayers, langar, kirtan and community services.
• Shiva Temple: A Hindu temple located in Bur Dubai that offers prayers, rituals, festivals and community services.
• Masjid Al Farooq Omar Bin Al Khattab: A mosque located in Umm Suqeim that offers prayers, lectures, classes and community services.
• The Blue Mosque: A mosque located in Al Safa that offers prayers, lectures, classes and community services.

How Is The Rental Market In Downtown?

The rental market in Downtown Dubai is one of the most popular and competitive markets in Dubai. According to the latest data from Bayut, the average rent per square foot for apartments in Downtown Dubai was AED 97 in November 2021, which was 3.2% higher than the previous year.

Rental Trends Of Downtown

The average annual rent for studios was AED 60,000, for one-bedroom apartments was AED 85,000 and for two-bedroom apartments was AED 130,000. The table below shows the rental trends for different types of apartments in Downtown Dubai:

Type	Average Annual Rent (AED)
Studio	60,000
1-Bedroom	85,000
2-Bedroom	130,000
3-Bedroom	200,000
4-Bedroom	350,000

How Is The House Sale Market In Downtown?

The house sale market in Downtown Dubai is one of the most dynamic and sought-after markets in Dubai. According to the latest data from Bayut, the average price per square foot for apartments in Downtown Dubai was AED 1,561 in November 2021, which was 9.6% higher than the previous year.

House Sale Trends Of Downtown

The average price for studios was AED 1 million, for one-bedroom apartments was AED 1.5 million and for two-bedroom apartments was AED 2.7 million. The table below shows the house sale trends for different types of apartments in Downtown Dubai:

Type	Average Price (AED)
Studio	1,000,000
1-Bedroom	1,500,000
2-Bedroom	2,700,000
3-Bedroom	4,500,000
4-Bedroom	8,500,000

What Are Other Area’s Or Communities That Are Comparable To Downtown?

If you are looking for other area’s or communites or want to research different options for investing in real estate, we have plenty more guides to read through. Other interesting area’s that are you can compare against Downtown:

• Invest In Property In Dubai Marina
• Invest In Property In Jumeirah Lake Towers
• Invest In Property In Jumeirah Beach Residence

Frequently Asked Questions About Downtown

Below are answers to some of the most frequently asked questions about offplan investments in Downtown: