Harbour Residences

TL;DR: Harbour Residences is a completed 162-unit residential building by Al Tajir Real Estate within Dubai Maritime City (DMC), one of Dubai's most rapidly developing waterfront destinations. Completed in Q2 2019 and launched in Q4 2008, it was among the earliest residential buildings delivered in the 2.27-million-square-metre maritime precinct. DMC is now home to over 27 active off-plan projects by developers including Omniyat, Deyaar, Danube, DAMAC, Select Group, and Beyond Developments, with current prices averaging AED 2,200 to AED 3,000 per square foot and gross rental yields of 5.2% to 9%.

Introduction

Harbour Residences is a completed residential development by Al Tajir Real Estate, situated within the Harbour Residences zone of Dubai Maritime City (DMC) — a 2.27-million-square-metre man-made peninsula that represents one of Dubai's most ambitious and rapidly transforming waterfront developments. Launched in Q4 2008 and completed in Q2 2019, the building houses 162 freehold residential units, establishing it as one of the pioneering residential developments within DMC alongside ANWA by Omniyat (completed December 2021).

The significance of Harbour Residences extends beyond its individual building. The project occupies one of 14 premium development plots within the Harbour Residences zone — a designated sub-district of the DMC master plan specifically reserved for high-rise waterfront residential towers. As DMC has evolved from an infrastructure-phase development into one of Dubai's most intensely active new construction zones (with 27-plus active off-plan projects as of 2025), Harbour Residences' early-mover status positions its owners within a rapidly appreciating waterfront ecosystem where neighbouring towers by tier-one developers are commanding significantly higher prices.

Location & Connectivity

Dubai Maritime City occupies a reclaimed peninsula jutting into the Arabian Gulf, strategically positioned between Port Rashid (immediately adjacent to the northwest) and Dubai Dry Docks World (immediately adjacent to the southeast). This waterfront positioning places the development within one of Dubai's most central coastal locations — far closer to the city's commercial core than newer waterfront developments on the city's periphery.

The connectivity advantages are significant. Downtown Dubai and the Burj Khalifa are approximately 10 to 12 minutes by car. The Dubai International Financial Centre (DIFC) is similarly accessible. Sheikh Zayed Road, Dubai's primary north-south arterial, is approximately 3 kilometres away, accessible within 12 to 15 minutes. Bur Dubai's historic commercial district is just 1.5 kilometres away, and the Shindagha Tunnel providing direct access to Deira is approximately 2.5 kilometres distant. Dubai International Airport (DXB) is approximately 10 to 11 kilometres away, reachable within 15 to 20 minutes.

The peninsula is connected to the mainland via a dedicated causeway linking to Sheikh Rashid Road, providing efficient vehicular access to the surrounding road network. While DMC does not currently have a metro station within its boundaries, the nearest stations (ADCB and World Trade Centre) are approximately 15 to 18 minutes away. The RTA has identified DMC for potential inclusion in future marine ferry service routes, which would leverage the development's inherent waterfront access for rapid transit connectivity.

Jumeirah Beach Road is approximately 1 kilometre away, and La Mer Beach — one of Dubai's most popular urban beach destinations — is minutes by car. This proximity to both the city's commercial core and its coastal recreational infrastructure creates a dual-advantage that few Dubai residential locations can match.

Architecture & Design

Harbour Residences is situated within the Harbour Residences zone of the DMC master plan — one of six designated sub-districts that collectively comprise the city's framework. The six zones are: the Industrial Precinct (fully operational ship repair and maritime services), the Maritime Centre (commercial offices for marine businesses), the Academic Quarter (marine engineering and naval science campus), the Marina District (mixed-use with charter marina, transit marina, and ferry terminal), Harbour Offices (19 plots for commercial office towers), and Harbour Residences (14 plots for high-rise residential towers).

The building houses 162 residential units across a mix of apartment configurations, including studios, one-bedroom, two-bedroom, and three-bedroom apartments. The development was designed to capitalize on its waterfront positioning, with units oriented to capture views across the harbour, the Arabian Gulf, and the Dubai commercial skyline. Freehold title is available to all nationalities.

The surrounding DMC infrastructure provides the civic backbone for the residential community. A completed 3.5-kilometre waterfront promenade runs through the commercial district, featuring restaurants, boutique retail outlets, cafés, entertainment zones, marina walkways, and yacht berthing areas. Seven kilometres of internal road works have been completed, along with approximately 90% of underground utilities (power, water, sewage, and high-speed internet), ensuring reliable smart-city services throughout the development.

Amenities & Lifestyle

Harbour Residences provides building-level amenities including a swimming pool, gymnasium, children's play area, 24-hour security, and covered parking — the foundational facilities expected of a residential development in this category.

The true lifestyle proposition, however, lies in the broader DMC ecosystem that is rapidly taking shape around the building. The 3.5-kilometre waterfront promenade delivers a purpose-built pedestrian environment for dining, leisure, and socializing along the harbour's edge. The Marina District's planned superyacht berths, charter marina, and ferry terminal will add a nautical leisure dimension that distinguishes DMC from inland Dubai communities.

As neighbouring residential towers complete and populate — with handovers for Riva Residence (Vakson, 158 units, Q4 2025), Nautica One and Two (Select Group, Q4 2026), Mar Casa (Deyaar, 580 units, Q4 2026), and Aria by Beyond (December 2026) all scheduled within the near term — the community's retail, dining, and service infrastructure will expand correspondingly. DP World's ongoing infrastructure investments include cycling lanes, expanded pedestrian zones, electric vehicle charging stations throughout the city, and smart grid integration with AI-based surveillance systems.

The adjacent Port Rashid area is being transformed through Emaar's Rashid Yachts and Marina project, which will add luxury retail, dining, and superyacht facilities that integrate with DMC's own marina infrastructure — creating a continuous waterfront leisure corridor along Dubai's central coastline.

Unit Types & Payment Plans

Harbour Residences is a fully completed development. All transactions occur through the secondary resale and rental markets. The building houses 162 freehold units spanning the following configurations:

• Studios: Compact waterfront apartments suitable for investors and young professionals
• 1-Bedroom Apartments: The building's most common configuration, offering harbour or city views
• 2-Bedroom Apartments: Family-oriented layouts with expanded living areas
• 3-Bedroom Apartments: The largest standard residential units within the building

Current DMC-wide pricing provides the market context for Harbour Residences' secondary market values. Average prices across Dubai Maritime City range from AED 2,200 to AED 3,000 per square foot (Signature Habitat, 2025), with some broker estimates reaching AED 3,500 to AED 4,000 per square foot for premium waterfront units (Milestone Homes, 2025). The broader DMC listing range spans AED 845,000 to AED 16,240,000 across all unit types. For reference, DMC remains Dubai's most competitively priced premium waterfront location compared to Palm Jumeirah (AED 4,000–6,000/sqft), Bluewaters Island (AED 4,500–6,500/sqft), La Mer/Port De La Mer (AED 3,800–5,200/sqft), and Emaar Beachfront (AED 4,500–6,000/sqft).

Developer Profile

Al Tajir Real Estate was founded in 2001, with the company name translating to "the merchant" in Arabic. Incorporated under UAE law and regulated by the Dubai Land Department (DLD) and the Real Estate Regulatory Authority (RERA), the developer describes itself as one of Dubai's leading independent property developers, with over 20 years of market experience and all projects compliant with RERA escrow requirements.

Al Tajir's completed portfolio includes Fortunato in Jumeirah Village Circle (JVC) District 11 — a mixed residential complex offering studios, one-bedroom through three-bedroom apartments, penthouses, lofts, duplex apartments, and surrounding townhouses (completed circa 2014) — and Prudential Tower, also in JVC. Harbour Residences in Dubai Maritime City represents the developer's flagship waterfront project.

While Al Tajir operates as a boutique developer relative to the tier-one firms now building in DMC (Omniyat, Deyaar, DAMAC, Danube, Select Group, Beyond Developments), the company's early commitment to DMC — launching in Q4 2008 during one of the market's most challenging periods — demonstrated conviction in the precinct's long-term potential that has been validated by the subsequent surge of major developer activity.

Investment Potential

Harbour Residences occupies a uniquely advantageous position in Dubai Maritime City's investment landscape: an early-mover completed asset within a precinct experiencing explosive development activity. As of 2025, Property Finder lists 27 active off-plan projects within DMC, with major launches including Breez by Danube (60 storeys, 1,200+ units), Mar Casa by Deyaar (52 storeys, 580 units), Harbour Lights by DAMAC (52 storeys), Nautica One and Two by Select Group (49 storeys each), Soulever by Beyond Developments (AED 2.6 billion twin tower), and Chelsea Residences by DAMAC — which reportedly sold AED 2 billion of inventory within hours of launch, reflecting the intensity of investor demand for DMC waterfront exposure.

Gross rental yields across DMC average approximately 5.2% for standard residential units, with furnished and short-term rental units achieving 6% to 8% (Falcon Premier, 2025). Broader analyst estimates range from 6% to 9% depending on unit size, view quality, and developer brand. Studios and one-bedroom apartments typically deliver the highest gross returns.

Capital appreciation dynamics are particularly compelling. DMC currently prices at AED 2,200 to AED 3,000 per square foot — the most competitive pricing of any premium waterfront location in Dubai. As the precinct matures from construction phase to a fully populated, amenity-rich waterfront community, long-term price forecasts project values reaching AED 8,000 to AED 10,000 per square foot for luxury towers at full maturity (Milestone Homes, 2025). The Dubai luxury waterfront sector has already demonstrated 25% to 35% price growth over the past three years, establishing a clear trajectory.

For Harbour Residences owners specifically, the investment thesis is driven by the transformation of the surrounding environment. Each new tower completion — each new restaurant on the promenade, each new retail outlet, each infrastructure upgrade — incrementally enhances the liveability, desirability, and rental demand for existing units. As an early-completed building within a zone designed for 14 residential towers, Harbour Residences' owners benefit from every subsequent development without the construction risk, payment plan commitments, or handover uncertainty that off-plan buyers face.

With freehold ownership, central Dubai waterfront positioning, and a surrounding ecosystem projected to absorb billions of dirhams in new development investment over the coming five years, Harbour Residences offers existing and prospective owners exposure to one of Dubai's most dynamic value-creation cycles — backed by the tangible security of a completed, income-generating asset.