- Bluewaters Island, located 500 meters off the coast from Jumeirah Beach Residence & Dubai Marina.
- The development on this island, a Meraas project, will reportedly cost USD 1.6 bn.
- The center-piece of Bluewaters Island is a 210 meter tall ferris wheel which will be about 90 meters taller than the London Eye.
- Once complete, the development will have a direct link to Sheikh Zayed Road, a monorail connecting to the Dubai Metro, a pedestrian bridge and a cable car to Jumeirah Beach Residence.
- The project is estimated to take five years to build, with completion due in Q1 of 2019.
- 10 residential buildings are under-construction in Bluewaters Island
- Total of 698 apartments (1, 2, 3 and 4 bedroom units)
- Total of four penthouses and 17 townhouses
- Meraas has released and sold a handful of apartments. As of January 17, 2019, Meraas is offering a 5-Year post handover payment plan for apartments in Building 10, with 10% being the down payment, 10% on completion, and 80% over 5 years after handover.
Hospitality & Retail Components
There will be two hotels on the island. Meraas and Caesar's Entertainment have entered into an agreement to bring two Caesar's hotels onto the island. These will be the first outside of Las Vegas.
The island will also feature close to 200 retail and dining options. The retail component will be similar to that of La Mer, City Walk, and the Beach. The Caesar's Palace has already opened its operations and is becoming one of the hotspots in Dubai, with restaurants like Hell's Kitchen and lounges like Cove Beach.
Residential Units for sale in Bluewaters Island - May 2018
Sales in Bluewaters Island commenced in March 2017
1 Beds: sizes from 963 - 1,155 sq. ft. Prices from AED 1.9 - 2.7 M (limited availability)
2 Beds: sizes from 1,451 - 2,033 sq. ft. Prices from AED 3.0 - 3.9 M
3 Beds: sizes from 1,935 - 2,114 sq. ft. Prices from AED 3.6 - 5.1 M
4 Beds: sizes from 2,209 - 2,473 sq. ft. Prices from AED 5.5 - 5.8 M (limited availability)
Townhouses (only 4 remaining)
4 Bed TH: sizes range from 6,310 - 6,831 sq. ft. Prices range from AED 14.6 million - 15.4 million.
The developer is offering the following payment-plan:
|10%||6 months after purchase date|
|10%||12 months after purchase date|
|10%||16 months after purchase date|
|10% ||20 months after purchase date|
|10%||24 months after purchase date|
|10%||28 months after purchase date|
|15%||32 months after purchase date|
|15%||36 months after purchase date|
Why Invest in Bluewaters Island?
Bluewaters Island will be one of the most exclusive and luxurious developments in Dubai. This will become a world-class tourist destination.
1. Tourism-driven community: Bluewaters Island a tourist-driven community; In addition, nearby areas and project such as JBR Beach and Emaar Beachfront will also draw many tourists throughout the year. This can drive up property values, as well as rental returns. Investors may be able to achieve high returns by converting their apartments as holiday homes (short-term rentals).
2. Reputable Developer: Meraas has delivered many high-quality developments and has established its name as one of Dubai’s top tier builders. Examples of their developments include City Walk, La Mer, the Beach, Kite Beach, Outlet Mall, and many more.
3. Prime Location: Located just off the coast of JBR, the island is easily accessible and well-connected to other parts of the city. Properties offer beautiful views of the Ain Dubai, JBR/Marina skyline, and the Arabian Gulf. Bluewaters will be connected directly via Sheikh Zayed Road through its own entrance.
4. Payment Plan: The developer is offering an excellent three-year post-completion payment plan. Whether you are buying as an end-user or an investor this is perfect for you. There will be no need to take a mortgage. Secondly, for investors, part of their property installments will be paid off with rental income.
Project Completion Status (as per DLD): 90.04% (as of 17 January 2019)
Dubai Land Classification & Escrow Account Details:
Land Number: 3641
Project Number: 1795
Real Estate Developer: BLUE WATERS RESIDENTIAL
Trust Account Number: 00110916010015
Account Trustee Name: NOOR BANK
RERA Permit No : 15128
Brokerage Firm: Taktical Realty Group LLC