Overview of Meydan City: AED 7.5 Billion Master Development

Quick answer: Discover top off-plan real estate options in Meydan City, Dubai, ideal for investors and first-time buyers. Get details on prices, yields, and fees.

Meydan City, with its ambitious AED 7.5 billion investment, stands as one of Dubai's premier residential hubs. Offering a mix of luxury villas and apartments, this area is attracting a diverse crowd from local buyers to international investors.

Pro tip: Timing in this area is crucial due to its ever-evolving market landscape.

Top Off-Plan Projects: Seven to Watch Under AED 2 Million

If you're looking for properties under AED 2 million, you'll find several exciting options:

• The Dubai Hills: Villas starting around AED 1.5 million
• Green Valley: Apartments from AED 1.2 million
• Meydan Rise: 1-bedroom units starting at AED 1 million
• Wadi Al Safa: Luxurious 2-bedroom units available for AED 1.8 million
• Emaar Business Park: Starting prices at AED 1.3 million
• Dubai Sports City: Affordable apartments around AED 950,000
• Meydan Heights: Great options beginning at AED 1.2 million

Investing in Off-Plan: Understanding Costs and Fees

As you dive into the off-plan market, don't forget to factor in several costs. Beyond the property price, you have:

• DLD Fee: Typically 4% of the purchase price
• Oqood Registration: A small fee for contract registration
• Service Charges: Generally range from AED 12 to AED 20 per square foot annually

Quick math: For an apartment priced at AED 1.5 million, expect around AED 60,000 to AED 90,000 for your initial fees.

Completion Dates: Expect Handover Within 3 Years

When investing in off-plan properties in Meydan City, anticipate a handover Timeline of 2 to 3 years post-purchase. Developers often provide a detailed schedule outlining the completion phases, along with snagging periods, which is vital during the final inspection.

Rental Yields: Great Potential at 6-9%

The rental market in Meydan City offers impressive yields for investors. Properties here can provide returns between 6% and 9%, making them attractive for both short-term and long-term leasing options.

Watch out: Always consider the demand fluctuations based on the season, especially during events like the Dubai Shopping Festival.

By the Numbers

• Projected capital growth: 10-15% annually
• Average units sold per month: 150
• DLD Fee: 4% on property value
• Service charges: AED 12-20 per sq. ft.
• Average yield: 7%
• Time to handover: 2-3 years

Example Calculations

Mortgage Scenario

For a property priced at AED 1.5 million with a 20% down payment and a mortgage rate of 4.25% over 25 years, your monthly payment would approximate AED 7,600.

Rental Yield Calculation

If you invest in a property at AED 1.5 million and rent it out for AED 10,500 per month, the rental yield would be:

• Annual rental income: AED 126,000
• Yield = (AED 126,000 / AED 1,500,000) x 100 = 8.4%

Investors' FAQs About Meydan City

What are the key advantages of investing in Meydan City?

The area boasts premium amenities, high potential for capital growth, and excellent rental yields.

When should I invest in off-plan projects?

Now is ideal as prices are expected to rise along with growing demand.

Are there specific financing options available for these properties?

Yes, many developers offer flexible payment plans spanning several years.

How does the snagging process work?

This is the crucial phase where you check for any defects or issues before taking possession.

What is the typical warranty period for new homes?

Typically, developers offer a 1-2 year warranty covering structural and systemic issues.

Related reading

• What Do You Need to Know About Off-Plan Opportunities in JVC?
• Best Off-Plan Properties in Meydan City Dubai
• Which Are the Top Advantages of Investing Off-Plan in Dubai?
• Why Are Your Financing Choices for Off-Plan Investments in Dubai?

Useful tools

• Buy property in Dubai
• Off-plan projects in Dubai
• Offplanproperties.ai
• AI real estate agent
• Get property matches
• Compare properties