17 Icon Bay is Emaar’s latest project in Dubai Creek Harbor offering one, two, and three bedroom apartments. Located on the Island District and anchored to the central park, 17 Icon Bay provides wonderful views of the wildlife sanctuary, downtown skyline, and the Creek Harbour tower, as well as easy access to the central park.
1 Bedroom apartments range from AED 1.1 - 1.4 million (those with park view were approximately AED 1.1 million +; Units with marina view were AED 1.37 million +).
2 Bedroom apartments range from AED 1.45 - 2.2 million (park view around AED 1.45 million, tower + marina view were around AED 1.66 million, units with full marina view were around AED 2 million).
3 Bedroom apartments range from AED 2.4 - 3.2 million (full marina and downtown view units were about AED 3 million).
|5%||At the time of booking|
|10%||May 2019 (20% Construction Completion|
|10%||December 2019 (40% Construction Completion|
|15%||July 2020 (70% Construction Completion)|
|35%||May 2021 (Upon Completion)|
Unit Mix & Sizes
30% of the units in this building are one bedrooms, 50% are two bedrooms, and 20% are three bedrooms.
Floors 2-22 have nine units per floor and floors 16-41 have 7 units per floor. There are around 3 one bedroom units and 6 two bedroom units on the lower floor. On the higher floors, there are 3 three bedroom units, 2 two bedrooms, and 2 one bedroom units. Three beds are only located on the higher floors (24-41). Each floor has three units of three beds.
Units with views of the wildlife sanctuary:
1 bed: 03 series
2 bed: 02, 04 series
3 bed: 01, 02, 03 series
Units with views of the tower and central district:
2 bed: 01, 09 series
3 bed: 01 series has view from bedrooms
Units with view of the central park:
1 bed: 05 & 06 (24-41 floors), 07, 08 series
Units with partial water view/community views:
2 bed: 05, 06 (floors 2-22) series
3 bed: 03 series
|Bedroom ||Size Range |
|1 Bedroom ||736 - 760 sq. ft. |
|2 Bedroom ||1,069 - 1,116 sq. ft. |
|3 Bedroom ||1,588 - 1,668 sq. ft.|
Investor Response on Launch Day
Majority of the one and two beds with the best views of wildlife sanctuary, downtown skyline, the creek tower were sold on launch day. There are some 3 bed units left as well as smaller units facing the central park.
Very interesting to see considerable number of Chinese investors at the launch showing great interest in this project in particular and in Dubai Creek Harbor in general.
Why Invest in This Project?
Once completed, we believe these will be one of the most sought-after apartments by high-end clients in Dubai Creek Harbor due to several factors.
The initial launch prices were reasonable and the payment plan was also attractive for long-term investors.
Dubai Creek Harbor has enormous potential for capital appreciation once the entire development is completed (similar to Dubai Marina).
DCH will provide a water-front lifestyle with boardwalks, corniches, and high-end stores and cafes lined up along the boulevard.
DCH will feature major tourist attractions, such as The Dubai Creek Tower, which will be the world’s tallest building, as well as the world’s biggest mall. The Tower is expected to be completed by 2020.
The community will be a 10-minute drive from major city-centers/hubs such as Downtown Dubai, DIFC, Business Bay, Bur Dubai, Deira, and Dubai International Airport. These will enhance the rental and re-sale market with Dubai Creek Harbour.
The development of the public transport network to, from, and around the development will provide ease of access to the community.
This is an opportunity for investors to invest in a development with a potential for huge capital appreciation, once the entire development is completed, as well as receive decent ROI (similar to what investors witnessed in Dubai Marina).
Contact us to learn more:
Nov 02 2014
Dubai Creek Residence
While the overall real estate market has shown consistent signs of a slow-down over the last two quarters, Emaar's latest launch was by all accounts a success.
Dubai Creek Residence is the first project of the master-development 'The Lagoons.' It certainly has an iconic feel to it - much like the First Six Towers in Dubai Marina. Located on a natural island, the six towers offeri beautiful views of the creek and the Dubai skyline. The project is located close to the business districts and the main airport.
Emaar have set delivery dates for the Dubai Creek Residences for 3 years years but there is a lot of infrastructure to build and the overall Lagoons project will be built over at least 15 years.
We also expect there to be new launches for projects within this island over the next 3 - 6 months.
Emaar's sales strategy was first come first serve rather than online registration. This is a tactic they use for projects which are not sure to automatically sell out, it also helps create a hype which helps drive sales.
By Friday evening (the day before the launch) there were at least 350 people lined up and by Saturday morning that number had swelled to close to a thousand. These were mainly real estate agents with pre-registered clients, or opportunists seeking to sell their spaces in the que.
According to several sources, we understand Emaar have sold out the stock that they had planned to sell. We don't know for sure if they have held back any units for future sales.
Sea facing units sold at prices of AED 1,650 - 1,700 psf.
Back facing units sold between AED 1,400 - 1,550 psf.
Most of the sales were done to clients who commit to holding the property till completion and also commit to paying a higher % as a down-payment. This means there will be less secondary market transactions.
Most agents and investors we spoke to agreed that the opening prices were reasonable but most expressed some skepticism on the delivery date target.