Off-Plan Properties Victory Heights In Dubai

Last Updated on August 6, 2023 by Bram Vermolen

Off-plan property investment in Victory Heights, Dubai is a type of real estate investment that involves buying a property that is not yet completed or under construction.

Off-plan properties are usually offered by developers at lower prices than ready properties, with flexible payment plans and attractive incentives. Off-plan properties in Victory Heights, Dubai can be a lucrative option for investors who want to benefit from the high demand, capital appreciation and rental income that this community offers.

About Victory Heights

Victory Heights is a prestigious villa community located in the western half of Dubai Sports City. It consists of over 1000 villas and townhouses spread across eight villages, namely Novelia, Esmeralda, Carmen, Estella, Oliva, Calida, Morella and Marbella. Victory Heights is surrounded by the Els Club, a world-class golf course designed by Ernie Els, and offers stunning views of the fairways and the skyline. Victory Heights is a family-friendly community that features landscaped gardens, parks, playgrounds, cycling paths, basketball courts, tennis courts and a community centre with a pool and gym. Victory Heights is also strategically connected to Sheikh Mohammed Bin Zayed Road and Al Khail Road, providing easy access to other parts of the city.

How Is The Dubai Victory Heights Real Estate Market?

The Dubai Victory Heights real estate market is one of the most sought-after and stable markets in the city. According to Property Finder, the average sale price for villas in Victory Heights was AED 5.6 million in 2021, while the average rental price was AED 230,000 per year. The average sale price for townhouses in Victory Heights was AED 3.1 million in 2021, while the average rental price was AED 160,000 per year. The Dubai Victory Heights real estate market has witnessed a steady growth in demand and supply over the years, as more projects have been completed and handed over. The market has also benefited from the popularity of golf communities in Dubai, as well as the proximity to Dubai Sports City, which offers a range of sports and entertainment facilities.

How Is The Off-Plan Property Market In Victory Heights?

What Are The Benefits Of Off-Plan Property In Victory Heights?

Off-plan property in Victory Heights offers several benefits for investors and buyers, such as:

• Lower prices: Off-plan properties are usually priced lower than ready properties, as developers offer discounts and incentives to attract buyers.
• Flexible payment plans: Off-plan properties come with easy and convenient payment plans that allow buyers to pay in instalments over a period of time.
• Capital appreciation: Off-plan properties have the potential to increase in value over time, as the market conditions improve and the project nears completion.
• Rental income: Off-plan properties can generate rental income once they are completed and handed over, as Victory Heights is a high-demand area for tenants.
• Customization options: Off-plan properties give buyers the opportunity to choose their preferred layout, design and finishing options for their property.

What Are The Disadvantages Of Off-Plan Properties In Victory Heights?

Off-plan property in Victory Heights also has some disadvantages that investors and buyers should be aware of, such as:

• Risk of delays: Off-plan properties may face delays in completion and handover due to various factors such as market conditions, regulatory approvals or construction issues.
• Lack of physical inspection: Off-plan properties cannot be physically inspected by buyers before purchase, as they are based on brochures, floor plans and mock-ups.
• Uncertainty of final product: Off-plan properties may not match the expectations of buyers in terms of quality, size or features, as there may be changes or variations during the construction process.
• Liquidity issues: Off-plan properties may be difficult to sell or rent before handover, as there may be restrictions or fees imposed by developers or authorities.

What Is The ROI On Off-Plan Properties In Victory Heights?

The return on investment (ROI) on off-plan properties in Victory Heights depends on various factors such as the property type, size, location, price, payment plan and rental value. To calculate the ROI on off-plan properties in Victory Heights, one can use the following formula:

(Annual rent – Annual expenses) / Total investment * 100

The table below shows some examples of ROI on off-plan properties in Victory Heights based on average prices and rents in 2021:

Property Type	Size (sqft)	Price (AED)	Rent (AED/year)	Expenses (AED/year)	ROI (%)
Townhouse	2,700	3,000,000	160,000	40,000	4.0
Villa	4,800	5,500,000	230,000	60,000	3.1

The table shows that off-plan properties in Victory Heights can offer a decent ROI for investors and buyers, especially for townhouses. However, the ROI may vary depending on the actual market conditions and the individual property features.

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

Victory Heights off-plan property is interesting for real estate developers because it allows them to:

• Capture the demand: Victory Heights is a popular and prestigious community that attracts a lot of interest from investors and buyers who are looking for luxury villas and townhouses in a golf-themed setting.
• Secure the funding: Victory Heights off-plan property enables developers to secure the funding for their projects by collecting instalments from buyers over a period of time.
• Build the reputation: Victory Heights off-plan property helps developers to build their reputation and brand image by delivering high-quality projects that meet the expectations of buyers and investors.
• Create the value: Victory Heights off-plan property allows developers to create value for their projects by offering competitive prices, attractive incentives and flexible payment plans to buyers and investors.

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

Victory Heights off-plan property is interesting for real estate investors because it offers them:

• Affordable prices: Victory Heights off-plan property is available at lower prices than ready properties, which makes it more affordable and accessible for investors.
• Capital appreciation: Victory Heights off-plan property has the potential to appreciate in value over time, as the market conditions improve and the project nears completion.
• Rental income: Victory Heights off-plan property can generate rental income once it is completed and handed over, as Victory Heights is a high-demand area for tenants who are looking for luxury villas and townhouses in a golf-themed setting.
• Growth opportunities: Victory Heights off-plan property provides growth opportunities for investors who can benefit from the development of Dubai Sports City and its surrounding areas, which offer a range of sports and entertainment facilities.

Why Is Victory Heights Off-Plan Property Interesting For Off-Plan Buyers?

Victory Heights off-plan property is interesting for off-plan buyers because it gives them:

• Savings: Victory Heights off-plan property helps buyers to save money by offering lower prices, discounts and incentives than ready properties.
• Choices: Victory Heights off-plan property gives buyers the choices to select their preferred layout, design and finishing options for their property.
• Dream home: Victory Heights off-plan property enables buyers to own their dream home in a prestigious community that features landscaped gardens, parks, playgrounds, cycling paths, basketball courts, tennis courts and a community centre with a pool and gym.
• Lifestyle: Victory Heights off-plan property allows buyers to enjoy a lifestyle that is tranquil, private and luxurious, with stunning views of the golf course and the skyline.

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

1. Developer reputation

One of the most important factors to consider when buying off-plan properties in Dubai Victory Heights is the reputation of the developer. Buyers should do their research and check the track record, credentials and portfolio of the developer. They should also look for reviews, testimonials and feedback from previous customers and stakeholders. Buyers should avoid dealing with unknown or unlicensed developers who may not deliver on their promises or commitments.

2. Project location

Another factor to consider when buying off-plan properties in Dubai Victory Heights is the location of the project. Buyers should evaluate the location in terms of accessibility, connectivity, amenities, facilities and future developments. They should also consider the views, orientation and privacy of the property. Buyers should visit the site and inspect the surroundings before making a decision. They should also compare the prices and returns of similar projects in the same area or nearby areas.

3. Payment plans

Off-plan properties in Dubai Victory Heights come with different payment plans that suit the needs and preferences of buyers and investors. Payment plans are usually divided into instalments that are paid over a period of time, from the booking date until the handover date. Some of the common payment plans for off-plan properties in Dubai Victory Heights are:

• 10/90: This payment plan requires buyers to pay 10% of the property price as a booking fee, and the remaining 90% upon handover.
• 20/80: This payment plan requires buyers to pay 20% of the property price as a booking fee, and the remaining 80% upon handover.
• 30/70: This payment plan requires buyers to pay 30% of the property price as a booking fee, and the remaining 70% upon handover.
• 40/60: This payment plan requires buyers to pay 40% of the property price as a booking fee, and the remaining 60% upon handover.
• 50/50: This payment plan requires buyers to pay 50% of the property price as a booking fee, and the remaining 50% upon handover.

Some developers may also offer post-handover payment plans, which allow buyers to pay a portion of the property price after receiving the keys. For example, a 25/75 post-handover payment plan means that buyers pay 25% of the property price upon handover, and the remaining 75% in equal instalments over a specified period of time, such as 3 years or 5 years.

4. Payment structure options

Off-plan properties in Dubai Victory Heights offer different payment structure options for buyers and investors, such as cash payments, mortgage financing, post-handover payments, or a combination of these methods. Buyers and investors should evaluate different payment structure options and choose the one that suits their financial situation and goals. They should also consult with their bank or financial advisor before opting for any payment structure option.

5. Due Dilligence

Due diligence is the process of verifying and validating the information and documents related to the off-plan property in Dubai Victory Heights. Due diligence is essential for buyers and investors who want to avoid any legal, financial or technical issues that may arise during or after the purchase of the off-plan property. Some of the steps involved in due diligence are:

• Checking the developer’s license and registration with the Dubai Land Department (DLD) and the Real Estate Regulatory Agency (RERA).
• Checking the project’s approval and completion status with the DLD and RERA.
• Checking the escrow account details and balance of the project with the DLD and RERA.
• Checking the sale and purchase agreement (SPA) and its terms and conditions with a legal advisor.
• Checking the title deed and ownership rights of the property with the DLD.
• Checking the floor plan, layout, design and specifications of the property with the developer.
• Checking the payment plan, payment structure options, fees, charges and penalties of the property with the developer.
• Checking the handover date, delivery schedule and quality assurance of the property with the developer.

6. Property Tax

Property tax is another factor to consider when buying off-plan properties in Dubai Victory Heights. Buyers should be aware of the following taxes and fees that may apply to their off-plan properties:

• Value-added tax (VAT): Off-plan properties are exempt from VAT until handover. After handover, VAT may apply to some services and goods related to the property, such as maintenance, utilities, and furniture.
• Capital gains tax (CGT): Off-plan properties are exempt from CGT if they are held for more than two years. If they are sold within two years, CGT may apply at a rate of 10% on the profit.

Community Overview Of Victory Heights

What Are The Most Popular Buildings In Victory Heights?

The most popular buildings in Victory Heights are:

• Sobha Creek Vistas: A collection of luxury apartments ranging from studios to three-bedroom units, with spacious layouts, modern designs, and premium finishes. The apartments offer views of the Dubai Creek, Ras Al Khor Wildlife Sanctuary, or the skyline. The building has amenities such as a swimming pool, a gym, a sauna, a steam room, a children’s play area, and a barbecue area.
• Sobha Creek Vistas Reserve: A collection of contemporary apartments ranging from one to three-bedroom units, with elegant interiors, smart home technology, and balconies. The apartments offer views of the Dubai Creek or the skyline. The building has amenities such as a swimming pool, a gym, a spa, a lounge, a concierge service, and a 24-hour security.
• Sobha Signature Villas: A collection of bespoke villas ranging from four to six-bedroom units, with spacious living areas, private pools, landscaped gardens, and rooftop terraces. The villas offer views of the community or the skyline. The building has amenities such as a clubhouse, a mosque, a supermarket, and a landscaped garden.

Which Transportation And Parking Spaces Are There In Victory Heights?

Victory Heights is well-connected to the rest of Dubai by major roads such as Sheikh Mohammed Bin Zayed Road (E311), Sheikh Zayed Road (E11) and Al Khail Road (E44). You can also use public transportation such as buses, taxis and metro stations to get around the city. Some of the nearby metro stations are Mall of the Emirates, First Abu Dhabi Bank and Noor Bank. Victory Heights also plans to have access to the Etihad Rail network in the future, which will link it to other emirates and countries in the region.

As for parking spaces, most of the residential and commercial properties in Victory Heights come with allotted parking spaces for residents and visitors. There are also public parking lots and garages available in the area, especially near the malls and attractions. You can use apps like RTA Dubai or Parkopedia to find and book parking spaces near your destination.

Which Amenities, Schools And Healthcare Are There In Victory Heights?

Victory Heights offers a range of amenities and facilities for its residents and visitors, such as parks, lagoons, cycling and running tracks, swimming pools, fitness centres, clubhouses, mosques, nurseries, retail shops and more. The community also features state-of-the-art tourist attractions, such as the Meydan One Mall, which will be the world’s largest mall when completed, the Crystal Lagoon, which is the world’s largest man-made lagoon, and the Meydan Racecourse, which hosts the prestigious Dubai World Cup every year.

For education, Victory Heights has two international schools within its premises: Victory Heights Primary School and Bradenton Preparatory Academy. Both schools follow the British curriculum and cater to students from Pre-KG to Grade 12. There are also other schools nearby, such as Gems United School, Gems Metropole School and Gems World Academy.

For healthcare, Victory Heights residents can visit several medical facilities located in nearby areas, such as Emirates Hospital Day Surgery & Medical Center, Mediclinic Parkview Hospital and Medcare Medical Centre. There are also clinics, pharmacies and dental centres within or close to Victory Heights.

Which Outdoor Activities, Fitness And Beauty Are There In Victory Heights?

Victory Heights is an ideal place for outdoor enthusiasts, as it boasts 26 million sq. ft. of open and green spaces for parks and lagoons. You can enjoy a variety of outdoor activities in Victory Heights, such as kayaking, paddle boarding, sailing, fishing, horse riding, golfing and more. You can also explore the cycling and running tracks that span over 8 km around the Crystal Lagoon or join the District One Cycling and Running Club for group sessions and events.

If you prefer indoor fitness options, you can visit one of the many gyms and fitness centres in Victory Heights, such as Fitness First Platinum Club at Meydan One Mall or Fit Republik at Dubai Sports City. You can also join classes for yoga, pilates, martial arts, dance and more at various studios in the area.

For beauty and wellness services, you can pamper yourself at one of the many salons and spas in Victory Heights or nearby areas. Some of the popular ones are Tips & Toes at Sobha Hartland Greens, The Nail Spa at The Dubai Mall or Armani/Spa at Armani Hotel.

Which Leisure Activities And Notable Landmarks Are There In Victory Heights?

Victory Heights is home to some of the most impressive leisure attractions and landmarks in Dubai and the world. Some of them are:

• The Meydan One Mall: This will be the world’s largest mall when completed, with over 600 retail outlets, a 1 km long ski slope, a water park, a dancing fountain and more.
• The Crystal Lagoon: This is the world’s largest man-made lagoon that covers 7 km of water surface and features beach-like shores.
• The Meydan Racecourse: This is a world-class horse racing venue that hosts the Dubai World Cup every year.
• The Museum of The Future: This will be a futuristic museum that showcases cutting-edge innovations and technologies.
• The Dubai Canal: This is a 3.2 km long waterway that connects the Arabian Gulf with the Dubai Creek and offers scenic views and activities along its banks.

Which Restaurants Are Located In Victory Heights?

Victory Heights has a variety of restaurants to suit different tastes and budgets. You can find cuisines from around the world, such as Italian, Indian, Lebanese, Japanese, American and more. Some of the popular restaurants in Victory Heights are:

• Armani/Ristorante: This is a fine dining restaurant that serves authentic Italian cuisine in a stylish setting at Armani Hotel.
• Armani/Amal: This is another restaurant at Armani Hotel that offers Indian dishes with a contemporary twist and panoramic views of the city.
• Nezesaussi Grill: This is a casual sports bar and grill that serves Australian, New Zealand and South African food and drinks at Manzil Downtown.
• Boulevard Kitchen: This is a Mediterranean restaurant that offers buffet and a la carte options for breakfast, lunch and dinner at Manzil Downtown.
• Reef & Beef: This is a steakhouse and seafood restaurant that offers fine dining and a beautiful view of the Crystal Lagoon at District One.

Which Supermarkets Are Located In Victory Heights?

There are several supermarkets and minimarkets located in or near Victory Heights, where you can buy groceries and other essentials. Some of them are:

• Carrefour Market: This is a large supermarket that offers a wide range of products, including fresh produce, bakery, meat, dairy, frozen food, household items and more. It is located at Binghatti Terraces on Sheikh Zayed Bin Hamdan Al Nahyan Street.
• Lulu Express: This is a smaller version of Lulu Hypermarket that offers quality products at affordable prices. It is located in Al Quoz on Al Khail Road.
• Spinneys: This is a premium supermarket that offers high-quality products, including organic and gluten-free options. It is located in Meydan City on Al Meydan Road.
• Taj Al Madina Supermarket: This is a local supermarket that offers fresh fruits, vegetables, meat, fish, dairy and more. It is located in Sobha Hartland on Al Khail Road.

Which Beaches Are Located Near Victory Heights?

Victory Heights is located close to the coastline of Dubai, which means you can easily access some of the best beaches in the city. Some of the beaches near Victory Heights are:Kite Beach: This is a popular beach for kite surfing, water sports and other activities. It also has a jogging track, a skate park, a play area and many cafes and food trucks.

• Jumeirah Beach: This is a public beach that offers stunning views of the Burj Al Arab and the Arabian Gulf. It also has showers, changing rooms, sunbeds, umbrellas and water sports facilities.
• Sunset Beach: This is another public beach that offers a great spot to watch the sunset and the Burj Al Arab. It also has showers, changing rooms, sunbeds, umbrellas and water sports facilities.

Which Malls Are Located Near Victory Heights?

Victory Heights is surrounded by some of the most famous malls in Dubai, where you can shop, dine, entertain and have fun. Some of the malls near Victory Heights are:

• The Dubai Mall: This is the world’s largest mall by total area, with over 1,200 retail outlets, 200 food and beverage outlets, an aquarium, an ice rink, a cinema, a theme park and more.
• Mall of the Emirates: This is another mega mall that features over 600 retail outlets, 100 food and beverage outlets, an indoor ski resort, a cinema, a theatre and more.
• City Walk: This is an outdoor shopping and entertainment destination that features over 300 retail outlets, 60 food and beverage outlets, a cinema, a gaming zone, a green park and more.

Which Churches, Temples And Mosques Are Located Near Victory Heights?

Victory Heights is a multicultural community that respects all faiths and beliefs. Some of the places of worship near Victory Heights are:

• Mosques: There are several mosques within or near Victory Heights, such as Victory Heights Mosque, District One Mosque, Meydan Mosque, and Al Quoz Mosque. These mosques offer prayer facilities, Quran classes, and community events for Muslims.
• Churches: There are a few churches near Victory Heights, such as Emirates Baptist Church, Coptic Orthodox Church, and Maranatha Full Gospel Church. These churches are located in Al Barsha and Oud Metha and can be reached in 15 to 20 minutes by car. They offer worship services, Bible studies, and fellowship activities for Christians.
• Temples: There are no temples within Victory Heights, but there are some Hindu and Sikh temples in the nearby areas of Bur Dubai and Al Fahidi. These temples include Shiva Temple, Shree Krishna Haveli, Sindhi Gurdarbar Sahib, and Guru Nanak Darbar. These temples are located around 20 to 25 minutes by car from Victory Heights. They offer prayer facilities, religious ceremonies, and cultural events for Hindus and Sikhs.

How Is The Rental Market In Victory Heights?

Rental Trends Of Victory Heights

The rental market in Victory Heights is one of the most active and attractive markets in Dubai. Victory Heights offers a range of properties for rent, from apartments and villas to townhouses and duplexes. Victory Heights is a new luxury community in Mohammed Bin Rashid City (MBR City), a mega-development project that aims to create a new city within a city, with world-class amenities, facilities, and attractions. Victory Heights is located close to the Dubai Water Canal, Downtown Dubai, Business Bay, and Al Quoz, making it a convenient and desirable location for residents and visitors.

The rental trends of Victory Heights vary depending on the property type, size, location and condition. According to Property Finder , the average rental price for apartments in Victory Heights was AED 85,000 per year in 2021. The average rental price for villas in Victory Heights was AED 300,000 per year in 2021. The table below shows some examples of rental prices for different property types and sizes in Victory Heights in 2021.

Property Type	Size (sqft)	Rental Price (AED/year)
Apartments	Studio	40,000 – 60,000
Apartments	1 Bedroom	60,000 – 100,000
Apartments	2 Bedrooms	90,000 – 150,000
Apartments	3 Bedrooms	120,000 – 200,000
Villas	4 Bedrooms	250,000 – 350,000
Villas	5 Bedrooms	300,000 – 450,000
Villas	6 Bedrooms	350,000 – 500,000

The rental market in Victory Heights is expected to grow and flourish in the coming years, as more projects are completed and handed over. Some of the upcoming projects in Victory Heights include Sanctuary Villas by Sobha Group, Senses at The Fields by MAG Property Development, District One West Homes by Nakheel, and The Highbury Apartments by Ellington Properties. These projects will add more value and appeal to the community and attract more tenants and investors.

How Is The House Sale Market In Victory Heights?

House Sale Trends Of Victory Heights

The house sale market in Victory Heights is one of the most dynamic and lucrative markets in Dubai. Victory Heights offers a range of properties for sale, from apartments and villas to townhouses and duplexes. Victory Heights is a new luxury community in Mohammed Bin Rashid City (MBR City), a mega-development project that aims to create a new city within a city, with world-class amenities, facilities, and attractions. Victory Heights is located close to the Dubai Water Canal, Downtown Dubai, Business Bay, and Al Quoz, making it a strategic and attractive location for buyers and investors.

The house sale trends of Victory Heights vary depending on the property type, size, location and condition. According to Bayut, the average sale price for apartments in Victory Heights was AED 1.5 million in 2021. The average sale price for villas in Victory Heights was AED 11 million in 2021. The table below shows some examples of sale prices for different property types and sizes in Victory Heights in 2021.

Property Type	Size (sqft)	Sale Price (AED)
Apartments	Studio	550,000 – 750,000
Apartments	1 Bedroom	800,000 – 1.2 million
Apartments	2 Bedrooms	1.2 million – 2 million
Apartments	3 Bedrooms	2 million – 3 million
Villas	4 Bedrooms	4.5 million – 7 million
Villas	5 Bedrooms	6.5 million – 10 million

Frequently asked questions about Victory Heights

Victory Heights is a community that offers a unique opportunity to experience the natural and urban aspects of Dubai. Here are some of the frequently asked questions about Victory Heights and their answers.