Grovy Homes Real Estate Development L.L.C · Central Island

Coral Isle Residences

AED 2M ≈ USD 544,588

Bedrooms 1–3

Unit sizes 856–1,980 sq.ft

Price / sq.ft AED 2,336

Handover Q1 2027

Payment plan 60/40

Golden Visa Eligible

Coral Isle Residences is Grovy Homes’s project on Central Island. 68 units across G+2P+8. That is a small building by Dubai Islands standards, which usually means fewer competing resales when you come to sell and a service charge spread across fewer owners.

Prices start at AED 2M. At AED 2,336 per sq.ft it prices in line with the 2,514 archipelago average. Units run 856 to 1,980 sq.ft.

The payment plan is 60/40. Handover is dated Q1 2027. That lands inside the 2027 to 2028 window when most of the island completes, so a lot of similar stock reaches the lettings market at the same time. Underwrite a longer void than feels comfortable.

Amenities: Infinity pools, Private beach areas, Fully equipped gym, Landscaped gardens and dedicated children’s play zones. Beach access is direct.

Unit mix as released: 1 bedroom; 2 bedroom; 3 bedroom.

Registered with the Dubai Land Department under project number 3322. Payments go to the project escrow account, Zand Bank PJSC – 0000695010000002. Nothing should be paid anywhere else.

Location. Coral Isle Residences is on Central Island, off the Deira coastline in northern Dubai. Twenty minutes to Dubai International, twenty-five to Downtown and DIFC, five to the Gold Souk and the Deira waterfront. Access today is over the Infinity Bridge, and it is the only way on and off until the dedicated island bridges land, which are contracted for 2027 to 2029. Central Island carries the mall, the marinas and most of the residential stock, which is why resale here is deeper than anywhere else on the archipelago.

What the numbers actually say. Budget roughly 6 to 7% on top of the price to complete: 4% DLD, around AED 10,200 trustee and admin, the first-year service charge payable at handover, and snagging. On the entry unit here that is close to AED 2.13M of cash to own it outright. On my own underwriting the entry one-bed on this island returns about 3.7% net long-let, after a AED 24 per sq.ft service charge, six weeks vacancy, 2% agency and 5% management. Not the 11 to 13% being advertised, which is gross short-let at full occupancy on stock that is almost entirely unlet.

Amenities

Infinity pools
Private beach areas
Fully equipped gym
Landscaped gardens
Dedicated children’s play zones.

Floor plans

Locked

See the layouts

3 layouts on file. Tell me where to send them and they open right here, no download needed.

Service charge

AED 22–26 per sq.ft, my estimate. Most buildings here have not published theirs.

Buying on Dubai Islands

The general rules that apply to any off-plan purchase on the islands. The specifics for this project are above.

Ownership, tax and visa

Dubai Islands is a designated freehold zone, so a foreign buyer owns the property outright with no local partner and no lease. There is no annual property tax in the UAE, no capital gains tax and no tax on rental income. The 4% Dubai Land Department transfer fee plus AED 4,200 admin is paid once, at registration. At this price the purchase clears the AED 2M threshold for the 10-year Golden Visa, measured on the registered value.

How you buy off-plan here

A reservation form and a deposit of typically 5 to 10% holds the unit, paid to the developer. The Sales and Purchase Agreement follows within 14 to 30 days and sets the payment plan and the delay clause, which is the paragraph worth reading twice. DLD takes 4% and registers you on the Oqood off-plan register. Instalments then follow construction milestones into the escrow account, and the Oqood converts to a full title deed at handover.

Questions about Coral Isle Residences

How much does Coral Isle Residences cost?

Prices start at AED 2M, which works out at about AED 2,336 per sq.ft. Add roughly 6 to 7% on top for DLD, trustee, first-year service charge and snagging.

When is Coral Isle Residences handing over?

The developer's date is Q1 2027. That sits inside the 2027 to 2028 window when most of the island completes.

What is the payment plan at Coral Isle Residences?

60/40. Compare the total price rather than the schedule: a generous plan is usually paid for in the headline number.

Can a foreigner buy at Coral Isle Residences?

Yes. Dubai Islands is a designated freehold zone, so foreign buyers own outright with no local partner. You do not need to be resident, and the SPA can be signed remotely.

What unit types are available at Coral Isle Residences?

1 to 3 bedrooms, from 856 to 1,980 sq.ft.

Is Coral Isle Residences registered with the DLD?

Yes, under project number 3322. Payments go to the escrow account at Zand Bank PJSC - 0000695010000002.

What rental yield can I expect at Coral Isle Residences?

About 3.7% net long-let on my numbers for the entry one-bed on this island, after service charge, vacancy, agency and management. One residential project on the whole archipelago has been delivered and let, so treat every yield figure here as a projection, including mine.