Bluewaters Island is a man-made mixed-use island off the coast of Jumeirah Beach Residence (JBR), developed by Meraas.
It is connected to the mainland by a bridge and is very close to Dubai Marina, JBR, and major road networks.
The island features residential towers (apartments, penthouses, some townhouses), retail and dining, promenade, entertainment, and Ain Dubai (the giant observation wheel) as a landmark attraction.
Within Bluewaters, a project called Bluewaters Bay is a newer development offering seafront apartments (1 to 4 bedroom) along the edge of the island.
The primary residential zone “Bluewaters Residences” has 10 mid-rise buildings, 698 apartments, 4 penthouses, and 17 townhouses.
Here are what you’ll typically find:
Apartments / Mid-rise: Approximately 698 units in Bluewaters Residences. These include 1, 2, 3, and 4 bedrooms. Many have glass fronts, balconies, and views of the sea, Ain Dubai, or the promenade.
Penthouses: 4 penthouses in Bluewaters Residences. High-end, larger layouts with premium views from top floors.
Townhouses: 17 townhouses in Bluewaters Residences. Multi-level homes offering more space and a semi-detached feel.
Seafront / Waterfront Apartments: Located in Bluewaters Bay. These include 1 to 4-bedroom units positioned right at the water’s edge with direct sea views.
Some units are ready, while others are part of off-plan projects (especially in Bluewaters Bay).
Price Levels
In Bluewaters, listings show a broad range. On JamesEdition, average home prices are around USD 2.8–3.0 million (with ranges from ~$0.8M to ~$27M) for luxury homes.
On Property Finder, average prices in different buildings in Bluewaters range widely: for example, in “Apartment Building 9” the average is around AED 22,353,846; in Building 5, around AED 6,122,222.
Bluewaters Bay’s new seafront apartments are being offered from AED 2.56 million for 1 to 4-bedroom units.
In general, many 1-bedroom units in Bluewaters Residences are listed in the AED 3M to AED 4M range.
2-bedroom and 3-bedroom units command higher prices: 2-bed units are often in the AED 5–7 million range in prime positions.
Premium penthouses (larger units) can range from AED 15–23 million or more.
Rental Yields & Returns
In Bluewaters, rental yields tend to be strong given its premium location and appeal to high-income tenants and tourists.
Some sources quote an average rental yield around 6.2% for typical units.
Penthouses yield slightly lower, around 5.8%.
The Estate Doc (a market commentary) states that 3-bedroom units yield approximately 9.59%, while 2-bedrooms yield about 6.43%.
Annual appreciation estimates: many sources expect 6–8% annual capital growth in Bluewaters.
Market Drivers & Strengths
Prime Location / Demand: Bluewaters enjoys proximity to JBR, Dubai Marina, and major transportation links, making it very attractive.
Tourism & Landmark: Ain Dubai draws visitors, boosting demand for short-term and vacation rentals.
Developer Credibility: Meraas is a reputable developer in Dubai, giving confidence to buyers.
Limited Supply / Exclusivity: The island has controlled density (only around 719 residential units total including apartments, townhouses, penthouses) to retain exclusivity.
Amenities & Lifestyle: Waterfront promenades, food & beverage options, retail, high-end design, scenic environments — these factors attract premium tenants and owners.
Regulatory / Incentive Support: Investing in properties of AED 2 million or more in such projects may make you eligible for UAE Golden Visa schemes (5-10 year residency) depending on status and rules.
High entry cost: The premium location comes with a high price tag, which means you need significant capital and careful financial planning.
Market fluctuations: Luxury prime markets are more sensitive to global economic cycles, interest rates, and geopolitical risks.
Vacancy / tenant risk: In off-peak periods, high-end units may remain vacant or demand may dip, especially for very large or expensive units.
Service charges / maintenance: High-end developments often come with high annual maintenance or service fees — these can cut into net yields. Make sure you see the service charge schedule before investing.
Liquidity / resale: While prime areas are desirable, very high-end or niche units (ultra-luxury penthouses) may have fewer buyers.
Regulatory changes & taxes: While Dubai currently has favorable property laws, changes in regulations, visa rules, or taxation might impact returns.
Construction / delivery risks: For off-plan units, timing delays, quality issues, or changes can affect profitability.
Choose the right unit mix: 2- to 3-bedroom units often offer the best balance of demand and yield (versus very large penthouses).
Check orientation & view: Sea-facing, full-view units often command premium rent and resale value.
Look at service costs vs net yield: Gross yield might look promising, but after service charges, maintenance, and vacancy, net yield matters.
Check payment plans & developer guarantees: Off-plan projects often come with staggered payments; ensure the developer has a strong track record.
Tenant profile & leasing strategy: Is the unit suitable for long-term tenants, corporate leasing, or holiday rentals? Tailor to demand.
Exit strategy: Know your expected holding period (5, 7, 10 years) and have a resale or rental exit path.
Diversify risk: Don’t put all capital into one property — consider spreading across units or neighborhoods.
Due diligence: Title deeds, regulatory approvals, developer reputation, quality, warranties, building management.
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