Here’s what you can do with 1 million dirhams in Dubai
Ever wondered what to do with 1 million dirhams in Dubai? Well, there’s no doubt that having that kinda cash definitely presents a myriad of possibilities. But should you indulge yourself in an epic amount of retail therapy? Or is making smart investments the right way to go? If the latter option sounds like a winner to you, then investing in an off-plan villa or an apartment in Dubai is definitely worthy of consideration. So, with that potential investment in mind, we’ve put together this guide on what you can expect should you decide to invest your 1 million dirhams in the Dubai property market.
MOST POPULAR AREAS IN DUBAI WITH OFF-PLAN VILLAS UNDER AED 1M
Wondering what to do with 1 million dirhams in Dubai? How about buying an off-plan villa in the city?
DUBAILAND
Dubailand secures first place when it comes to buying a villa under AED 1M in Dubai. This off-plan development in Dubai features apartments, villas and townhouses, as well as leisure and entertainment facilities. You will find several off-plan standing houses in Dubailand ready for purchase.
The area is home to many residential and commercial projects, including Al Habtoor Polo Resort & Club, Layan, Majan, Falcon City of Wonders, Living Legends, Skycourts Towers, Winsdor Residence, Villanova, Rukan, Tiger Woods Dubai and Al Waha Community.
Counted among the best districts to invest in an off-plan villa in Dubai, Dubailand is close to the IMG Worlds of Adventure. So, if you are a fan of theme parks, you should consider buying one of the off-plan houses under AED 1M in any residential community here.
Areas where you can find villas for sale in Dubailand under AED 1M, include Rukan, Fiora at Golf Verde and Al Waha. Living Legends is another popular district for investing in an affordable villa in Dubailand. Villas in Dubailand come with exciting amenities, including gyms, swimming pools, tennis courts and community parks.
The average per square foot price of villas in Dubailand is AED 605.32. This number will likely rise in the future. So, if you are wondering what to do with 1 million dirhams in Dubai, investing right now is a smart move.
DAMAC HILLS 2
Another area where you can buy off-plan villas in Dubai under AED 1M is DAMAC Hills 2. Formerly known as Akoya Oxygen, it is a project of master developer DAMAC, who has showcased a portfolio of luxury properties that feature spacious rooms, elegant interiors and attractive exteriors. Other in-demand DAMAC projects in Dubai are located in Dubai Marina, JVC and Business Bay.
The off-plan villas for sale in AKOYA Oxygen offer a tranquil setting, a world away from the busy urban streets of the central city. Those wondering what to do with 1 million dirhams in Dubai can buy luxury 3 and 4-bedroom off-plan villas in DAMAC Hills 2 featuring energy-efficient materials, controls and systems.
This master development has dedicated cycling tracks, fine dining restaurants, luxury retail and entertainment. To get an idea about villa layouts, check out DAMAC Hills 2 floor plans in 2D and 3D formats. The average price per square foot for villas in DAMAC Hills 2 is AED 542.7.
MOST POPULAR AREAS IN DUBAI WITH APARTMENTS UNDER AED 1M
If you are looking for the best investment options for 1 million dirhams in Dubai, buying an apartment is a potentially wise choice.
Here are the top 3 three areas to buy flats under AED 1M.
Area | Average PSF |
|---|---|
Area Dubailand | Average PSF AED 772.01 |
Area Jumeirah Village Circle (JVC) | Average PSF AED 844.63 |
Area Dubai Residence Complex | Average PSF AED 622.69 |
DUBAILAND
As discussed, Dubailand is perfect both as an investment and an area to raise your family. You can find studios, 1, 2 and 3-bed flats in the area. Studio flats generally are compact units with covered areas ranging from 400 sq. ft. to 600 sq. ft. Whereas, you can find 1-bed apartments with a covered area of 750 sq. ft. to 850 sq. ft. Covered areas for 2 and 3-bed apartments in Dubailand exceed 1,600 sq. ft.
The average sales price per square foot is AED 772.01. You can browse different Dubailand floor plans to identify the property type that suits your needs.
You can also look at other subcommunities with villas and apartments for sale in Dubailand.
JUMEIRAH VILLAGE CIRCLE
It’s not surprising that Nakheel’s master community of Jumeirah Village Circle also makes it to the list. Given the value perception, a JVC property investment is the smart answer to the question ‘what to do with 1 million dirhams in Dubai.’
One key reason for the popularity of JVC properties is the neighbourhood location and proximity to Dubai Marina and Dubai Internet City, Dubai Media City and JLT. Besides landscaped gardens, you can find excellent communal facilities like sports courts, gyms and pools. The availability of top schools in the area makes it ideal for young families.
In terms of off-plan projects, you can consider O2 Tower by Tiger Properties and Rigel Apartments. The average price per square foot in JVC is AED 844.63. You can also look at JVC floor plans to kickstart your search.
DUBAI RESIDENCE COMPLEX
Dubai Residence Complex is a newly established community neighbouring Dubailand. Its strategic location along the Emirates Road (E611) and Dubai Al Ain Road (E66) ensures that residents quickly access the rest of the emirate. Academic City, a major educational hub, is just nearby.
You will find luxury flats in Dubai Residence Complex. With an average sales price per square foot of AED 622.69, it is one of the more affordable areas in Dubai. So, if you have been contemplating what to do with 1 million dirhams in Dubai, you can buy a family home.
Most apartments in the area offer top-class amenities. Plus, you can find top educational institutes within the community and nearby areas. Check out Dubai Residential Complex floor plans in 2D and 3D formats for clarity about apartment layouts.
FREQUENTLY ASKED QUESTIONS
WHAT IS AN OFF-PLAN PROPERTY?
Off-plan properties are unfinished projects that customers can purchase from the developer or the first-owner. If the buyer purchases the property from the developer, a downpayment of 10% to 20% has to be paid when signing the Sales Purchase Agreement.
IS IT BETTER TO BUY A VILLA IN DUBAI OR ABU DHABI?
There are some terrific options in both emirates, but it all depends on your requirements. Read our detailed analysis on buying villas in Dubai vs Abu Dhabi for a better understanding.
While there are plenty of off-plan projects in Dubai, the ones we have mentioned here have some spectacular off-plan villas under AED 1M that come with state-of-the-art facilities and access to premium amenities. But there are slight risks that you should know before investing in the property. Here’s a guide to why buy off-plan property in Dubai.
But with all these fantastic facilities and amenities and the prospect of getting a good ROI in the future, who wouldn’t want to invest in these off-plan houses in Dubai? If this article has sparked your interest in investing in off-plan, make sure to read out our guide to buying the latest off-plan properties in Dubai.
