+971 4 361 8839 Contact Us

Buy Plot in Dubai – Build your Dream Home

House project in dubai

Dubai’s master developers are coming up with revolutionary ideas to persuade investors to invest in real estate sector there. A fascinating idea that few developers have recently adopted is to sell plots to investors, which they can develop themselves utilizing their own concepts. The novel idea to offer plots rather than ready-made villas seem to be thrilling and enticing for a number of investors, who want to experiment it all themselves. With the announcement of such plots, prices are taking up in most of these projects in comparison to those projects which only offer new build villas.

dream home

Currently, Meraas Jabel Ali Hills development is offering 2000 plots comprising area ranging between 10,000 to 16,000 square feet with land value of Dh115 to Dh120 per square foot. The project is considered an attractive addition to Dubai realty market and is expected to complete by the end of 2016.

Selling plots in Dubai freehold areas is certainly not a new concept there. It dates back when the Dubai realty market was in early stage, and Emirates Hills offered plots to be acquired, which could be converted into dream homes. Nakheel, in particular being an early adopter, has been an early starter offering plots at its multiple developments, particularly at Jumeirah Village, Jumeirah Islands and at the flagship Palm.

“However now, developers with sizeable land holdings see plot sales as an integral part of their sales model and not just confined to a one-off location or two,” said Sameer Lakhani, Managing Director at Global Capital Partners. “Even for the investor, there’s a win-win perspective about such a commitment.

By offering plots not just developers are getting benefit but investors can also save on construction cost up to 50 percent, if they build on their own, factoring this perspective in a two year construction time frame – rather than getting a pre-built property unit direct from the developer. Investors can save significant amount and that also varies from plot to plot and development to development.

By looking at the previous statistics, we get to know that around 35,000 villas and town houses have been delivered since the market inception. 28,000 units are expected to be delivered in the market in the next five years, as we see developers have launched a number of projects, since market revival in 2013 after global economic crunch of 2008. The intention was to bag some cash from wealthy investors interested in buying properties in high-end areas.

Several leading developers are expected to follow the trend and soon they will start offering plots in Dubai for interested investors to build their dream home.