Off-planCoral Reef by DAMAC, Dubai Maritime City
HIGHLIGHTS
About Coral Reef by DAMAC
Coral Reef is an off-plan residential building by DAMAC Properties in Dubai Maritime City. The project will have a mix of 1, 2 and 3-bedroom apartments. The units can be booked with an initial payment of 24%, with handovers expected in Q1 2028.
Residents will get amenities like an infinity LED pool, mural pool, inflatable coral labyrinth and beach cinema for spending leisure time. For fitness, there will be a fully equipped gymnasium in the building. A spa with a restaurant will also be present.
Dubai Maritime City (DMC) is a multi-purpose zone strategically located between Port Rashid and Dubai Drydocks World. Divided into six thematic clusters, the 249-hectare development features multiple completed and off-plan residential projects.
In a Nutshell
- Type of building: Residential
- Expected date of completion: Q1 2028
- Location: Dubai Maritime City
- Developer: DAMAC Properties
- Unit type: 1, 2 and 3-bedroom apartments
- Amenities: Swimming pools, gymnasium, restaurant, pastel beach and beach cinema
BUILDING DETAILS
Payment Plan
Here is the breakdown of the Coral Reef payment plan:
| MILESTONE | INSTALMENT | %PAYMENT |
|---|---|---|
|
MILESTONE Down Payment |
INSTALMENT 1 |
%PAYMENT 24% |
|
MILESTONE Within 3 month(s) of Sale Date |
INSTALMENT 2 |
%PAYMENT 4% |
|
MILESTONE Within 6 month(s) of Sale Date |
INSTALMENT 3 |
%PAYMENT 4% |
|
MILESTONE Within 9 month(s) of Sale Date |
INSTALMENT 4 |
%PAYMENT 4% |
|
MILESTONE Within 12 month(s) of Sale Date |
INSTALMENT 5 |
%PAYMENT 4% |
|
MILESTONE Within 15 month(s) of Sale Date |
INSTALMENT 6 |
%PAYMENT 3% |
|
MILESTONE Within 18 month(s) of Sale Date |
INSTALMENT 7 |
%PAYMENT 3% |
|
MILESTONE Within 21 month(s) of Sale Date |
INSTALMENT 8 |
%PAYMENT 3% |
|
MILESTONE Within 24 month(s) of Sale Date |
INSTALMENT 9 |
%PAYMENT 3% |
|
MILESTONE Within 27 month(s) of Sale Date |
INSTALMENT 10 |
%PAYMENT 2% |
|
MILESTONE Within 30 month(s) of Sale Date |
INSTALMENT 11 |
%PAYMENT 2% |
|
MILESTONE Within 33 month(s) of Sale Date |
INSTALMENT 12 |
%PAYMENT 2% |
|
MILESTONE Within 36 month(s) of Sale Date |
INSTALMENT 13 |
%PAYMENT 2% |
|
MILESTONE Within 39 month(s) of Sale Date |
INSTALMENT 14 |
%PAYMENT 2% |
|
MILESTONE Within 42 month(s) of Sale Date |
INSTALMENT 15 |
%PAYMENT 2% |
|
MILESTONE Within 45 month(s) of Sale Date |
INSTALMENT 16 |
%PAYMENT 2% |
|
MILESTONE Within 48 month(s) of Sale Date |
INSTALMENT 17 |
%PAYMENT 2% |
|
MILESTONE On 70% of building Completion |
INSTALMENT 18 |
%PAYMENT 2% |
|
MILESTONE On 80% of building Completion |
INSTALMENT 19 |
%PAYMENT 2% |
|
MILESTONE On 90% of building Completion |
INSTALMENT 20 |
%PAYMENT 2% |
|
MILESTONE On Completion |
INSTALMENT 21 |
%PAYMENT 30% |
Key Takeaways:
- A down payment of 24% is required for booking.
- 50% will be paid in instalments during construction.
- 30% has to be paid at the time of handover.
Expected Completion Date
The project is expected to be completed by Q1 2028.
Facilities in Coral Reef
IN-HOUSE FACILITIES
Coral Reef Dubai Maritime City residents will have access to a wide array of entertainment and leisure amenities. These include an infinity LED pool, mural pool, reef-side lounge, spa featuring a restaurant, an inflatable coral labyrinth and beachfront cinema. Fitness enthusiasts will find a gym in Coral Reef.
PARKING
Residents will find covered parking in Coral Reef.
ELEVATORS
There will be high-speed elevators in Coral Reef.
SECURITY, CENTRAL AIR-CONDITIONING AND MAINTENANCE SERVICES
The building will have security staff and a CCTV monitoring system.
Apartment Types in Coral Reef
Coral Reef at Dubai Maritime City will have 1, 2 and 3-bedroom apartments.
1-BEDROOM APARTMENTS IN CORAL REEF
1-bedroom apartments in Coral Reef will include a bathroom, powder room, living room, dining area, kitchen and balcony.
2-BEDROOM APARTMENTS IN CORAL REEF
2-bedroom apartments in Coral Reef will feature two bathrooms, a powder room, a living room, a dining area, a kitchen and a balcony.
3-BEDROOM APARTMENTS IN CORAL REEF
3-bedroom apartments in Coral Reef will include three bathrooms, powder room, living room, dining area, kitchen and balcony.
MOST POPULAR APARTMENT TYPES IN CORAL REEF
According to Bayut, 1-bed apartments in Coral Reef by DAMAC enjoy the highest popularity. They are followed by 2-bedroom flats in the second spot. 3-bedroom flats take up the third position on the list.
Sales Trends in Coral Reef
Apartments for sale in Coral Reef by DAMAC have the following pricing details.
- 1-bedroom apartments for sale in Coral Reef by DAMAC are priced from AED 2M to AED 3M.
- 2-bedroom apartments for sale in Coral Reef by DAMAC are priced from AED 3M to AED 4M.
- 3-bedroom apartments for sale in Coral Reef by DAMAC are priced from AED 3.9M to AED 4M.
There are various other apartments for sale in Dubai Maritime City with different features and price tags.
NEARBY AMENITIES
Transportation near Coral Reef
One can get to Al Mina Street (D63) within a 10-minute drive from the project’s location. Public transportation near Coral Reef Dubai includes taxis, buses and metro.
Bus Stations near Coral Reef
Al Ghubaiba Bus Station 1 is the nearest option to use the Dubai bus service. It is about a 12-minute drive away and is serviced by bus 29.
Metro Stations near Coral Reef
To commute by Dubai Metro, residents can get to Al Ghubaiba Metro Station. It is connected to the Green Line and is accessible within a 13-minute drive.
Restaurants near Coral Reef
Residents will find these restaurants near Coral Reef Dubai Maritime City:
- Alddana Restaurant
- New Maritime Restaurant
- Fishtails Dubai
- Tyler's Tavern
- SIAM Restaurant
These eateries are reachable within a 10-minute drive and serve a variety of cuisines, including Indian and Thai. Those looking for high-end dining will find Enigma at a 20-minute drive. It is counted among the most expensive restaurants in Dubai.
Supermarkets near Coral Reef
Popular supermarkets near Coral Reef by Damac Properties include:
- Les Gastronomes, Fine Foods Store
- Mini Mart
- VIVA Supermarket
These stores are located within a 13-minute drive. VIVA Supermarket is counted among the best supermarkets in Dubai.
Nearby Attractions
- Etihad Museum
- Al Shindagha Museum
- Dubai Museum
Etihad Museum
Etihad Museum offers a chronological presentation of significant events occurring from 1968 to 1974, making it an excellent location for delving into the history of the UAE. The venue is an 8-minute drive by car from DAMAC Coral Reef's location.
Al Shindagha Museum
Al Shindagha Museum is a renowned historical site alongside Dubai Creek’s historic waters. This open-air museum comprises 22 pavilions housing 80 historic homes, each representing a different facet of the UAE's development and growth. It is a 13-minute drive by car.
Dubai Museum
Dubai Museum offers a distinctive insight into the emirate's history, showcasing the various stages of Dubai's evolution, particularly the period following the oil boom in the 1960s. It is situated in the vibrant district of Bur Dubai, a 13-minute drive away.
FAQs
What are the apartment types in Coral Reef by DAMAC?
Coral Reef at Dubai Maritime City by DAMAC Properties offers 1, 2 and 3-bedroom apartments.
When will Coral Reef be completed?
Coral Reef Dubai is expected to be completed by Q1 2028.
Featured image credit: DAMAC Properties
