Raffles Residences & Penthouses

Key facts

Handover (past)

Q1 2023

Status

Ready

Ownership

freehold

Property types

apartment, duplex, penthouse

Availability

Available

Payment plan

Available units

Amenities

• Well-being and Fitness
• CCTV Security
• Mosque
• Retail Facilities
• Shared Pool
• Barbecue Area
• Balcony

Location

Raffles Residences & Penthouses sits in Raffles Residences & Penthouses.

How Raffles Residences & Penthouses compares

Entry here is AED 52M, against a median of AED 24M across the 15 priced projects in The Crescent, which puts it above 11 of them and below 3. The plan opens at 20% down, against a Dubai median of 10%, so it asks 10% more up front than the typical plan. Handover lands in Q1 2023, alongside 31 other projects completing in the same quarter.

Measured across our own catalogue of Dubai off-plan projects, refreshed with the source listings. Entry price is the lowest advertised unit price in a project, not an average transaction value.

What you pay, and when

The published payment plan is 20% on booking, 70% during construction and 10% at handover. At the AED 52,223,850 entry price, that is AED 10,445,000 to reserve a unit, AED 36,557,000 across the build, and AED 5,222,000 due on completion.

Dubai Land Department registration is charged at 4% of the purchase price on top, which is about AED 2,089,000 at this entry price. That 20% booking payment does not go to Emerald Place Group directly: under Dubai's Law 8 of 2007 a registered project holds it in a RERA-supervised escrow account, drawn down against certified construction progress.

What the entry price works out at

The cheapest unit with a published size is 6,532 square feet at AED 52,223,850, which works out at AED 7,995 per square foot. Stated sizes run from 2,433 to 15,105 square feet.

Handover and construction

Raffles Residences & Penthouses handed over in Q1 2023.

Ownership and residency

Raffles Residences & Penthouses is a freehold development, so a buyer of any nationality can own a unit outright and hold the title deed. The entry price is at or above the AED 2,000,000 property threshold for the 10 year UAE golden visa, so the cheapest unit in the development qualifies on its own.

What it costs to hold

Service charges in Palm Jumeirah (apartments) run roughly 11 to 15 AED per square foot per year, on the Dubai Land Department service charge index. Towers inside one community can differ by a factor of two, so treat that as a range to check against the specific building rather than a quotation. On the 2,433 square foot entry unit that is about AED 27,000 to AED 36,000 a year.

Who it suits

The development is apartments, duplexes and penthouses in 2 to 5 bedroom layouts. Every layout is 2 bedrooms or more, which is family stock rather than the studio end of the market.

What is on site

Shared facilities recorded for Raffles Residences & Penthouses lead with well-being and fitness, mosque, retail facilities and balcony, alongside the CCTV security, shared pool and barbecue area that most Dubai developments carry. 9 floor plans are published for it.

Frequently asked