Elite Residence
2 BR · Apartment
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
Specifications for Elite Residence per Propsearch and the Dubai Land Department. They describe the whole building, not the individual unit.
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 NP9-215710
How much is this 2-bedroom apartment in Elite Residence?
Lot NP9-215710 is priced at AED 2 000 000, about $545 000. The size is 1 330 sq ft (124 m²), which works out at AED 1 504 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 4 lots in Elite Residence right now, from AED 2 000 000 to AED 4 400 000. 3 of them share this type and bedroom count: this lot is the cheapest. At AED 1 504 per sq ft this lot is level with the median for the other lots in the project (AED 1 504).
Is this expensive or cheap for Dubai Marina?
The database holds 168 lots in Dubai Marina, starting from AED 500 000. The area median is AED 2 217 per sq ft; this lot, at AED 1 504, is 32% below 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?
According to the listing, the property is ready. 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 to both residents and non-residents. For this lot: a resident puts down from 20%, here AED 400 000; a loan of AED 1 600 000 over 25 years at 3.75–4.99% a year comes to roughly AED 8 200–9 300 a month. A non-resident puts down from 40% (AED 800 000) and pays about AED 6 200–7 000 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 80 000 for this lot. On a ready property the registration trustee fee of AED 4 200 is added. 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 2 000 000. 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 NP9-215710 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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