Elite Residence
4 BR · Penthouse
About the building
91-storey residential building in Dubai Marina, completed in 2012. Developer — Tameer Holdings. Architect — Eng. Adnan Saffarini.
What the building has
- Swimming pool
Where it is
Dubai Marina
The original high-rise waterfront: a dense forest of towers around a man-made marina, and still the busiest rental market in the city.
- reliable rental income
- car-free living
- fast resale
What to check: Much of the stock is fifteen to twenty years old and building condition varies enormously. Get the service charge history and walk the common areas before you offer — an unmaintained tower will cost you more than the discount you got.
Full district guide →Questions and answers about lot NP17-574792
How much is this 4-bedroom penthouse in Elite Residence?
Lot NP17-574792 is priced at AED 18 500 000, about $5 037 000. The size is 6 200 sq ft (576 m²), which works out at AED 2 984 per sq ft.
Is there a discount on this lot?
There is no recorded price cut: the lot is in the database at the seller's asking price. The comparisons below show how that price sits against the market.
How does this price compare with other lots in Elite Residence?
The database holds 6 lots in Elite Residence right now, from AED 2 000 000 to AED 18 500 000. 2 of them share this type and bedroom count: this lot is the most expensive. At AED 2 984 per sq ft this lot is 98% above the median for the other lots in the project (AED 1 504).
Is this expensive or cheap for Dubai Marina?
The database holds 206 lots in Dubai Marina, starting from AED 500 000. The area median is AED 2 388 per sq ft; this lot, at AED 2 984, is 25% above it. 46 lots in the area have a reduced price. The median is taken from listings in our database, not from registered sales.
Dubai Marina area guide →Is the property ready or still under construction?
The listing gives no handover date. The project passport gives 2012 as the completion year.
Can this lot be bought with a mortgage, and what would the payment be?
UAE banks lend on ready homes, and the listing does not confirm that this property is ready. If it has been handed over, the numbers are: a resident puts down from 30%, here AED 5 550 000; a loan of AED 12 950 000 over 25 years at 3.75–4.99% a year comes to roughly AED 66 600–75 600 a month. A non-resident puts down from 40% (AED 7 400 000) and pays about AED 57 100–64 800 a month. The bank approves the rate and the amount.
Run your own numbers in the mortgage calculator →What costs come on top of the price?
The main one is the Dubai Land Department registration fee: 4% of the price, AED 740 000 for this lot. With a mortgage the bank charges for processing and valuation, and the mortgage is registered for a separate fee. I will send the full calculation for this lot on request.
Does buying this lot qualify for a UAE residence visa?
On price, yes: the 10-year Golden Visa is granted for property from AED 2 000 000, and this lot is priced at AED 18 500 000. The threshold is measured by the Dubai Land Department valuation, not the contract, and only freehold qualifies.
Golden Visa and residence visas →What is known about Elite Residence?
The building has 91 floors and 695 units. The developer is Tameer Holdings. Completion year: 2012. Figures are from the project passport: Propsearch and the Dubai Land Department.
Elite Residence project page →How do I view the property and get the exact address?
Lots in the database are anonymised: the unit number, exact address and owner's details are not published. Send the lot code NP17-574792 on WhatsApp or Telegram — I will confirm the lot is still for sale, send the full details and arrange a viewing.
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