Silena Residences

Silena Residences is Avenew’s project on Shore Island, the beachfront resort island, anchored by Rixos and the only one with infrastructure money already committed. 137 units across G+7.

Prices start at AED 3.4M. At AED 3,383 per sq.ft it is about 35% above the 2,514 archipelago average, so it needs to be earning that premium on view, finish or brand. Units run 1,005 to 6,798 sq.ft.

The payment plan is 50/50. Handover is dated Q2 2028. 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 seamlessly blending with the ocean, Landscaped gardens, Walking paths, 24/7 concierge, Security services and private beach access. Beach access is direct.

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

Registered with the Dubai Land Department under project number 3808. Payments go to the project escrow account, Dubai Islamic Bank PJSC – 001582194613301. Nothing should be paid anywhere else. The developer quotes a service charge of AED 18-21 per sq.ft. Most buildings here have not published a figure, and where they have I still model 22 to 26 until a first year is actually billed.

Location. Silena Residences is on Shore 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. Shore Island is the only one with infrastructure money already committed, an AED 527M contract awarded to Al Nasr in April 2026, and Rixos hands over here in Q4 2026.

Ownership. 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 point the purchase clears the AED 2M threshold for the 10-year Golden Visa, measured on the registered value.

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 3.59M 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.

How you buy it. 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.