Owning a home in the UAE is now well within the reach of many mid-income expat families living here. 2015 has been a year of affordable-home launches with convenient payment plans in the UAE. MoneyCamel team takes you through the most recent affordable apartment launches in the UAE:
Glitz Residence 3 by Danube
Announced in May 2015, Glitz 3 by Danube, is the third installment in Danube’s affordable apartment series. Like Glitz 1 & 2, this too will be located in Dubai Studio City. Dubai Studio City is located on Al Qudra road, next to Arabian Ranches and Motor City. Glitz 3 will feature more than 350 studio, one, two and three bedroom apartments in two buildings, with completion and handover expected in August 2018. Potential home buyers have 14 types of floor plans to choose from with prices starting at an affordable AED 475,000. Glitz 3 offers buyers a very convenient payment plan too – 10% on booking, 15% within two months of booking and 1% per month for 75 months, starting from the third month.
Meera, Shams Abu Dhabi
Aldar Properties, one of Abu Dhabi’s leading real estate developers recently launched sale of apartments in its latest residential tower project – Meera. Meera is located in the popular residential district, Shams, in Abu Dhabi. Shams is the developer’s flagship development in Al Reem Island, an expat favourite. The community includes the iconic Gate Towers and the Sun and Sky Towers. Meera will include two towers, both 26-storey high, featuring over 400 one, two and three bedroom apartments. Prices for the one-bedroom apartments start at AED 900,000, two-bedroom at AED 1.2 Million and three-bedroom at AED 1.6 Million.
Safi Apartments, Town Square
Launched in May 2015, Safi is the most recent installment in Nshama’s Town Square project located on the Al Qudra road extension. The studio, one, two and three bedroom apartments were launched at some of the most affordable prices till date – AED 349,988, AED 499,988, AED 699,988 and AED 999,988 respectively. In April 2015, Nshama had launched Zahra apartments at the same prices too. Town Square has already become very popular amongst aspiring home-owners, with its reasonably priced houses and a great range of facilities – a retail center with cafes & restaurants, a Reel Cinemas, sports courts, cycling/jogging track, community parks and much more.
Royal Estates, DIP
The Royal Estates’ developers unveiled a range of affordable studio and one bedroom apartments in April 2015. The project will be located in Dubai Investment Park, close to the Green Community and only a few minutes’ drive away from the Al Maktoum International Airport. Studio apartments were launched at only AED 284,888, and one-bedroom apartments at AED 575,888. The developers are also introducing two-bedroom apartments in the series very soon, starting at AED 719,888.
It is advisable to do some research before you decide to invest your hard-earned savings in a new house. Making sure you have a plan to conveniently manage the payment and researching about the developer’s track record & the area that the project will come up in, should ideally be the first steps in your journey to buying a home in the UAE.