% Profit from off-plan, initial purchaser

Written by Laura Adams, Director of Sales, Provident Estate

Off-plan to Completion continues to achieve healthy premiums for Investors in Dubai Properties due to high demand, figures show there is still room to grow for the foreseeable future.

The last 2 years have seen property prices rise across the Emirate due to the high demand from residents wanting to own and investors seeing Dubai as the safest and best place to invest for price per sq. ft along with multiple visa incentives and a growing economy.

Developers are releasing projects that are tailor-made to the new requirements of the buyers, from affordable to luxury, Dubai is leading the way with premium brands, construction, and architecture.

Just to be clear, it is rare to see the flipping culture in Dubai within days, weeks, or even months of purchasing, but if you buy at launch or 1st resale there is room for healthy premiums if you are willing to wait.  We have noticed that 6 months of completion is the golden time to sell for the best premium.

To give an idea of the progress of confidence in numbers, I looked at a few recently completed developments by Developers and researched the price from launch to completion.

All data is from the Dubai Land Department via Propertymonitor.

1. Palace Beach (part of the Address Brand by Emaar) – Beachfront – Emaar – Launch Date April 2021 – Completion 2025 

◆ One Bedroom Unit 1707 Tower 1

Launch Price AED1,872,892 – 732 sq ft – Re sold  AED2,200,000 – December 22 – 17.5% increase

◆ Two Bedroom Unit 3405 Tower 2 – 1,234 sq ft

Launch Price AED3,299,888 – Re sold AED4,350,000 December 22 – 32% increase

2. Tilal Al Ghaf –– Harmony – Launch Date June 2020 – Completion 2023

◆ Four Bedroom Harmony 1

Launch Price AED2,999,000 – Re sold  AED4,050,000 – Jan 23  – 35% increase

◆ Five Bedroom Harmony 2

Launch Price  AED4,594,000 – Re sold AED5,350,000 Sept 22 – 16.5% increase

3. Arabian Ranches 3 – Joy – Launch Date March 2019 – Completion 2023

◆ 3 Bedroom

Launch Price AED1,299,888 – Re Sold AED1,850,000 December 2022 – 42% increase 

◆ 4 Bedroom

Launch Price AED2,343,888 – Re Sold AED2,700,000 December 2022 – 15% increase

4. Royal Atlantis – Residences – Launch Date December 2015 – Completion Feb 23

◆ 2 Bedroom, 2,741 sq ft, Unit 804

Launch Price AED11,650,240 – Re Sold AED16,00,000 Jan 2023 – 37% increase

◆ 3 Bedroom, 3,508 sq ft, Unit 2202

Launch Price AED15,634,920 – Re Sold AED22,000,000 Dec 22  – 40% increase

5. Lamtara, Madinat Jumeirah Living – Launch Date Jan 2018 – Completion 2022

◆ Lamtara 3, 1 Bedroom, 785 sq ft, Unit 514

Launch Price AED1,302,000 – Re Sold AED1,870,000 Nov 22 – 43% increase

◆ Lamtara 3, 4 Bedroom, 2,935 sq ft, Unit 309

Launch Price AED5,010,000 – Re Sold AED7,700,000 Nov 22 – 53% increase

◆ Lamtara 1, 2 Bedroom, 1,356 sq ft, Unit 401

Launch Price AED2,890,000 – Re Sold AED3,600,000 Dec 22 – 24% increase