Apartments for sale in Al Reem: 749 apartments with residence permit

Apartment in Al Reem Island with a residency permit

Apartments for sale in Al Reem Island, UAE, remain one of the most investment-attractive properties in the real estate market of the capital of the Arab country with its modern infrastructure and picturesque views of the embankment. The district offers a wide range of premium and elite projects from the well-known Aldar Properties development holding and other reliable developers with the perfect reputation.

Residents can get to the city centre quickly due to the island’s strategic location. They have easy access to both their workplaces and the emirate’s best attractions. Apartments and flats for sale in Al Reem Island are an ideal option for those who want to immerse themselves in the lively rhythm of the capital and at the same time have the opportunity to relax in a quiet and peaceful environment.

Almost all the apartment complexes of the community are located near the highway and public transport stops. Therefore, locals can use both a personal means of transport and buses.

Residence permit in UAE by buying an apartment in Al Reem Island

The lowest apartment prices in Al Reem Island, which give a foreigner the right to get a residence permit in the UAE through a property investment, are AED 750,000 ($205,000). These investments allow the buyer to issue a 2-year permit. Including their spouse, unmarried children, and staff in the application, the amount should be increased to AED 1 million ($273,000).

Moreover, foreign investors have the opportunity to issue a 10-year residence permit by buying an apartment in Al Reem Island worth from AED 2 million ($545,000). The advantages of this permit type are the ability to issue residency to dependent applicants without increasing the size of the investment and the right to purchase off-plan properties.

Participants of the programme are allowed to cover the cost of apartments in Al Reem Island in parts. When making an instalment plan, they must make an initial payment of at least 50%.

The Emirati residence permit can be extended an unlimited number of times. To do this, a foreigner must retain ownership of real estate acquired under the immigration programme.

Investment apartment in Al Reem Island

Foreign investors decide to buy an apartment in Al Reem Island and get a residence permit for the following reasons:

High rental demand. In 2022, the island was ranked third among the most desired locations by tenants in the emirate, and in 2023, it took the top spot. This confirms its status as a top choice for tourism and immigration. Families tend to rent flats for sale in Al Reem Island near schools, kindergartens and parks; students close to the university; professionals close to jobs; and holidaymakers near the beach and entertainment venues.
Stable rental income. The high demand for rental flats in Al Reem Island provides their owners with a stable income. The average profitability of studios reaches 8.08% per annum. A 1-, 2-, 3-, 4-, and 5-bedroom apartment for sale in Al Reem Island can bring 6.97%, 6.2%, 6.24%, 6.36%, and 5.65%, respectively.
Affordable price. The area is home to high-quality housing at relatively lower prices than in Dubai. The average cost of local studios is AED 641,000 ($175,000). 1-bedroom investment apartment in Al Reem Island can cost an average of AED 907,000 ($247,000), 2-bedroom properties cost AED 1.5 million ($412,000), and 3- and 4-bedroom housing units cost AED 2.18 million ($595,000) and AED 3.8 million ($1.03 million), respectively.
Capital gains. Prices remain affordable, but they are showing steady growth. The average cost of apartments in the capital increased by 10% in the first half of 2024. Many experts believe that growth will not stop in the coming years, so investors can expect to profit from resale in the long term.
A wide selection of properties to buy a flat in Al Reem Island. Studios and 1- to 5-bedroom properties can be found on the island. Wealthy buyers also have access to 2-storey penthouses with dressing rooms, maid’s bedrooms, an office, a spacious terrace and a personal swimming pool.

FAQ

Can a foreigner buy an apartment in Al Reem Island?

According to the country’s laws, foreigners can purchase a property in the UAE if it is located in one of the freehold zones. The community is one of them, so foreign investors are allowed to register unconditional ownership of local properties. This means that they can own housing units indefinitely. Moreover, they can sell their homes, lease them, change their design, pass them on, etc.

How to get a residence permit in the UAE for buying an apartment in Al Reem Island?

The process of obtaining a resident permit in the UAE includes the following stages:

choosing apartments in Al Reem Island for investment that fulfill the programme's requirements and finalizing a deal;
passing a medical examination in an accredited clinic in the country;
submitting biometric data;
providing a filled-out application form, a certificate of ownership and other necessary documents to the immigration service.

What is the lowest cost of an apartment in Al Reem Island to obtain a UAE residence permit?

The value of flats or villas in the UAE should start at AED 750,000 ($205,000) if a foreigner wants to buy an apartment in Al Reem Island and get a residence permit for 2 years. When their family members and household staff are included in the application, the minimum investment threshold is increased to AED 1 million ($273,000). Applicants for a 10-year permit are required to invest AED 2 million ($545,000) regardless of the number of applicants.

In which part of the area is it more profitable to buy an apartment in Al Reem Island?

The most profitable locations to buy a flat in Al Reem Island and invest in it are the coastal areas and areas near the central park and shopping centre.