−19% Palace Residence
1 BR · Apartment
About the building
Located in Creek Island, completed in 2022. Developer — Emaar Properties.
Specifications for Palace Residences per Propsearch and the Dubai Land Department. They describe the whole building, not the individual unit.
Where it is
Dubai Creek Harbour
Emaar’s waterfront city on Dubai Creek: delivered in phases over decades, with the Downtown skyline across the water.
- long-term holds
- waterfront at below-Downtown prices
- Emaar community management
What to check: Much of the masterplan is unbuilt and the anchor attractions are years away. Buy in a completed phase with a protected outlook and price it on what exists — not on the render of what the district will eventually be.
Full district guide →Questions and answers about lot NP1-476890
How much is this 1-bedroom apartment in Palace Residence?
Lot NP1-476890 is priced at AED 1 500 000, about $408 000. The listing does not state a size, so no price per square foot is given.
How much has the price of this lot been cut?
The price before the cut was AED 1 850 000; it is now AED 1 500 000 — AED 350 000 less, or 19%.
How does this price compare with other lots in Palace Residence?
The database holds 2 lots in Palace Residence right now, from AED 1 500 000 to AED 5 650 000. 2 of them share this type and bedroom count: this lot is the cheapest.
What are prices like in Dubai Creek Harbour?
The database holds 48 lots in Dubai Creek Harbour, starting from AED 1 500 000. The area median is AED 2 586 per sq ft. This lot's size is not stated, so its price per sq ft cannot be compared with the area. 17 lots in the area have a reduced price. The median is taken from listings in our database, not from registered sales.
Dubai Creek Harbour area guide →Is the property ready or still under construction?
The handover date in the listing is Q1 2028. Until then payments follow the developer's payment plan. The date comes from the seller and is checked against the sale agreement before a deal.
Can I get a mortgage on this lot while it is still under construction?
During construction the buyer pays the developer under the payment plan — UAE banks grant standard mortgages on ready homes. A loan is possible for the final payment, once the property has its completion certificate.
Mortgage for the final payment →What costs come on top of the price?
The main one is the Dubai Land Department registration fee: 4% of the price, AED 60 000 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 the lot clears the classic threshold for the two-year residence visa, AED 750 000. It is AED 500 000 short of the 10-year Golden Visa, granted from 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 Palace Residence?
The building has 9 floors. Completion year: 2022. Figures are from the project passport: Propsearch and the Dubai Land Department.
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 NP1-476890 on WhatsApp or Telegram — I will confirm the lot is still for sale, send the full details and arrange a viewing.
Video: Palace Residence
Reviews from the English YouTube channel — each one with a written breakdown on this site.
A mortgage covers the final instalment
The final payment on this building falls in 2028 — under off-plan plans that is 40–60% of the price in one go. A UAE bank closes it: the flat becomes the security, and nothing is added on top of what the developer has already been paid.
- Up to 80% of the appraised value, no extra down payment
- 3.99% fixed for three years, up to 25 years in term
- 6–12 months before the keys — the bank wants six months of income history
Already been invoiced, or missed the date? That is not a dead end either — write and we will look at what the developer will accept.
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