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1 Prices are indicative and subject to change

2 Expected annual ROI for long-term rental at the time of handover. Numbers based on latest market data.

About "Society House"

Find your dream home among the best 1BR, 2BR, 3BR apartments in Society House by IGO. Located in Downtown, Dubai, prices are starting from AED 2.05m.

Society House, more than an address, is a vibrant hub for visionaries thriving in the heart of downtown life. Designed as the epicenter for the ambitious, it stands as a symbol of relentless drive amidst the dynamic city of Dubai.

Located in Downtown Dubai - a hotspot for exquisite cuisine, lively nightlife, and high fashion - Society House offers an unmatched address. Its proximity to the city's main business district and iconic landmarks like Burj Khalifa, makes it ideal for those seeking the best in life.

Beyond just a residence, Society House offers an unparalleled lifestyle. From elite fitness routines to tranquil downtime, our top-tier amenities cater to every aspect of your life, providing a world-class experience.

  • Ownership
    Freehold
  • Developer
    IGO
  • Location
    Downtown, Dubai
  • Estimated completion
    Q3 / 2026
  • Anticipated service fees (per sqft)
    AED 20.00
  • Short-term rental allowed
    No
  • Has appliances
    Yes
About the area

Downtown

Downtown Dubai is a vibrant hub known for its blend of traditional and contemporary architecture, including the renowned Burj Khalifa. The district is ideal for individuals seeking a luxurious, convenient urban lifestyle, offering everything from high-end apartments and hotels to functional office spaces and a plethora of entertainment options. Everyday needs are easily met with a wealth of supermarkets, eateries, and nightlife venues. The district also boasts strong infrastructure, including schools and clinics. Attractions such as The Dubai Fountain, Dubai Mall, and Dubai Opera are all within reach. Its central location and excellent transport links enable quick access to Dubai's key spots.

Distances

Burj Khalifa/ Dubai Mall Metro Station
1.9 km
The Track, Meydan Golf
4.0 km
Burj Khalifa
1.3 km
Burj Al Arab
11.6 km
Museum of the Future
2.8 km
City Walk
2.9 km
Dubai International Airport
10.5 km

Gallery

60/40 payment plan

20% Down paymentAED 409,536On booking
10% installmentAED 204,7685 months after reservation
10% installmentAED 204,76810 months after reservation
10% installmentAED 204,76815 months after reservation
10% installmentAED 204,76820 months after reservation
40% Final installmentAED 819,073On handover
TotalAED 2,047,682

Additionally a 4% (AED 81,907) registration fee to the Dubai Land Department is due at the time of booking.

Investment calculator

What strategy would you like to apply?

Short-term rental is not allowed in this project. This is done to keep the quality of the tenants at a higher level, which may slightly benefit long-term rental.

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Frequently Asked Questions

Payment

Are Offplan properties mortgageable?

It is possible to buy an Offplan propery with a mortgage. However, if the property can be acquired through a payment plan (which is almost always the case), it makes usually little sense to get a mortgage. A payment plan is designed for you to buy properties from your ongoing cashflow and already stretches the installments out to multiple years. Taking on a loan to pay for your Offplan property will stretch the payoff period but will result in a higher total price due to interest rates.

If you are currently living in a country other than the UAE, you may get a mortgage or private loan from your local bank. Please get in touch with a representative of your home bank to explore such an option.

That being said, you also can get a mortgage for an Offplan project in UAE. Commonly, a mortgage can be set up from 50% of the construction phase or after handover (thereby allowing you to purchase another property with foreign capital). This is always done case-by-case and also depends on the very project you want to buy in. Therefore, you you need to approach a bank in the UAE in person to find out if you are elligible.

Please get it touch with us to find out more.

Can I buy an Offplan property with Crypto?

Yes, you can buy a property with Crypto through a third-party.

Please get in touch with us to explore your options.

Can I buy Offplan property in Dubai from abroad?

Yes. Please get in touch and we will make your buying process from abroad straight-forward and pleasant.

Can I pay the whole price upfront?

In most cases, yes. You may even get a small discount.

We keep close relations to developers and will help you secure the best price. Please reach out to explore your options for your specific purchase.

Can I get a discount?

In most cases, you will only get a discount if you pay the whole property upfront without a payment plan or purchase in bulk (for example a whole floor).

For singular purchases through payment plans, unless otherwise disclosed, there are no discounts possible.

Investing

Can I buy the property through a company?

You can buy a property through a UAE company. However, it is not possible to buy property in Dubai through a foreign company.

Do I need to pay taxes on the income and capital gain from the property?

It depends. You don't have to pay any taxes on the property in the UAE. However, the country where you have your tax residency may tax you on income from either abroad rental income, abroad capital gains, both, or none.

For example, if you pay your taxes in Germany, both your rental income and profit from capital gains is subject to taxation (no tax on capital gains after 10 years).

If there is a tax, the rate is subject to the countries tax laws. At the same time, you may be able to write off expenses for the property from your tax and save money. To get a definite answer, please get in touch with your accountant in the country where you have your tax residence.

Is Offplan property a better investment than already built property?

It depends. There is benefits and drawbacks from buying either.

For example, when you buy already built property, you have the advantage to generate cashflow immediately by renting it out. However, if you are buying prestigious and recently finished real estate you will likely pay a hefty premium over an Offplan property. If you buy older, less prestigious property, you may even get a good price and rent it out immediately, but the resale price may grow much slower or even drop.

On the other hand, when you buy a good Offplan project, you may benefit from exorbitant capital appreciation in the short and long term as well as of the best rental yield in the region, but you will not be able to generate cashflow until it is completed.

To summarize, you can say that Offplan properties come with a delay and certain risks but have a better potential to generate more profit. Whether an Offplan property will be a good or bad investment depends on the specific project you choose and the strategy that you plan to employ. They are also easier to finance from your already existing income.

Will the market crash anytime soon?

Nobody knows how the future will play out. However, here is what we currently see in the market:

  1. Since the UAE lifted the travel ban for Chinese in early 2023, investors from China are flocking in and buying ridiculous amount of real estate, often purchasing whole buildings.
  2. We see local investors scooping up real estate, both in Offplan and secondary market. For example, the CEO of Driven Properties (a large real estate broker) recently bought 40% of an Offplan project for more than AED 150 millions (USD ~41 millions). We have knowledge of more investors like that internally scooping up real estate in bulk.
  3. Whenever you talk to someone about the market, they will tell you that it will crash. But that has been the case for quite some time, and everybody expects it. Chances are, that - assuming that the market will "crash" at all - it will happen when nobody suspects it, and not when the main stream expects it. Therefore, a crash seems unlikely to us in the nearest future.
  4. Dubai is experiencing a violent and constant inflow of investors. It has, in a sense, become the new Switzerland. More and more people are discovering the UAE as a safe heaven and coming here to protect their wealth from inflation and taxation. There is no indication that this will change anytime soon.
  5. Comparing the Dubai real estate market with other major cities like New York or Dubai there is still a lot room to grow. All while people are fleeing those cities and coming to Dubai.
  6. Eventually, as nothing can go up or down forever, of course the market has to come down at some point. However, based on what we currently see in the market this scenario seems to be unlikely in the nearest future. Further, the market may just correct by a few percent and then proceed to raise. That doesn't have to be a "crash", and is subject to your definition of a "crash". If a "crash" for you is a scenario where the whole market goes down by 20% or more, this may not occur for a long time.

Please be aware, that nothing here is financial advice. It is our personal opinion and observation of things that are happening right now in the market.

Is the investment really tax-free?

Generally, yes. There is no income tax and no capital gain tax in the UAE.

However, if your tax residency is not in the UAE, you may be subject to tax in your origin country. Please refer to a tax professional in the country where you pay your taxes to understand the conditions and tax rates that apply to you specifically.

Further, you may be able to move your tax residency to the UAE, after which you would be able to invest completely tax-free. Taxes in your origin country may also benefit you in some aspects, for example you may write off expenses and reduce your current tax burden in exchange for an increased tax burden once you start generating income.

What is the best investment strategy for real estate in Dubai?

Generally the best investment strategy for real estate in Dubai is to hold a property for at least 10 years and rent it out for long-term. It is very probable that over a longer period assets in any market will appreciate. With real estate, you additionally benefit from regular cash influx.

The profitability of your investment will often depend on the choice of the property itself, as well as how well you manage to run your rental endeavour. For example, you may rent a property for more if you furnish it. You may also have a company managing your rentals or do it yourself. In the latter case you will save additional fees that otherwise could cut deeply into your income.

Short-term rental in Dubai usually comes with high vacancy rates due to a hot summer, during which you will find less tourists visiting the city. Therefore you should profoundly research the area and the demand in it before giving your property for rent on Airbnb.

Of course, it is possible that you will make a highly profitable deal in the short term, for example flipping a property. However, the risk in such an approach is highly elevated.

That being said, if you still wanted to make a lot of money quickly, now (as of summer 2023) is probably one of the best times. As unserious as that sounds, the market is currently in a violent uptrend. Therefore, many investors factually pursue this approach and often make significant gains. Nevertheless, it is risky and you should try to omit flipping if you depend on the invested money.

If you don't depend on the money, you can mitigate the risk of flipping by changing your strategy into a more long-term approach to sit out your potential losses and still end up profitably at the end.