Coral Reef by DAMAC Properties is a coastal residential complex located in the prestigious Dubai Maritime City peninsula. The new tower on the waterfront offers apartments with 1-3 bedrooms and access to exclusive amenities for residents.
Coral Reef is a new high-rise complex from developer DAMAC Properties, with private access to the waterfront in Dubai Maritime City. The developer's portfolio includes well-known communities such as DAMAC Lagoons, DAMAC Hills, and others. The apartment design in the new complex will be created in collaboration with Vincent Van Duysen - Babolex. It is planned that the ambitious project will be ready by March 2028.
The tower will consist of an underground level, a six-story podium, 48 main levels, and a roof with amenities. In Coral Reef, you can choose the suitable type of property from 279 diverse apartments with 1-3 bedrooms. The area of the properties varies from 72 sq. m to almost 169 sq. m. Spacious residences are designed in a modern style and include a balcony, a living room, a maid's room, a built-in wardrobe or dressing room in each bedroom. The kitchen will be equipped with modern appliances, including a refrigerator and a hob.
Panoramic windows and spacious balconies emphasize the design of each room by providing an abundance of natural light. Depending on the location, residents can enjoy views of either the Dubai skyline or the Arabian Gulf.
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The complex is strategically located in the area of Dubai Maritime City, offering residents easy access to all major city attractions and business centers. The nearby neighborhoods of Jumeirah and Downtown Dubai offer endless entertainment options, trendy restaurants, and popular shops. Not only entertainment, but also important infrastructure facilities are located nearby. You can go shopping at City Centre Al Shindagha, Burjman Mall, which are located within a 15-20 minute drive. New Academy School, Ambassador School, Little Diamond Nursery - Al Raffa, Dubai Gem Nursery are functioning within a 10-15 minute drive radius. If medical assistance is required, Aster Hospital, International Modern Hospital, and others are located within a 10-15 minute drive.
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Dubai Museum, Etihad Museum, Museum of The Future, Jumeirah
Dubai International Airport (DXB), Downtown Dubai, Business Bay, Dubai Marina
The Coral Reef coastal complex is being built on the Dubai Maritime City peninsula, in close proximity to the center of Dubai. Thanks to the convenient exit to Sheikh Zayed Road and the proximity of the port, residents can easily reach important points and popular locations of the emirate. The trip to Dubai International Airport (DXB) will take about a quarter of an hour. The same amount of time or slightly less is needed to get to the Museum of The Future and the Etihad Museum.
If you decide to visit Downtown Dubai or one of the offices in the Business Bay, it will take about 20 minutes by car. The famous locations of the Palm Jumeirah artificial island and the popular promenades and beaches in Dubai Marina are located about 40 minutes' drive from the Coral Reef complex.
Unique design by Babolex, spacious and diverse real estate options with access to premium amenities in a stunning location near the main areas of the emirate will be in demand among various buyers. Apartments in Coral Reef will attract young families, single residents planning comfortable living on the coast, and investors. As of the third quarter of 2023, favorable payment plans in installments from the developer - 70/30 - are offered to all buyers.
Residents and tenants will have the opportunity to immerse themselves in the rhythm of life in the heart of the metropolis while staying away from noisy locations on the Arabian Gulf waterfront. The cost of renting this type of property in Dubai Maritime City is currently AED 92.5 thousand (USD 25 thousand) per year. Expect a yield of 4.7%.
It is planned that the complex will be fully ready for occupancy in March 2028. After the completion of construction, foreign buyers will be able to apply for a residence permit. To apply for residency for two years, you need to buy an apartment worth at least AED 750 thousand (USD 204 thousand). When purchasing apartments worth at least AED 2 million (USD 545 thousand), you can count on a "Golden Visa" valid for 10 years. This will also give the right to sponsor family members.
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