Dubai Off-Plan Handover Risk in Focus as Takmeel Breaks Ground

Dubai, UAE — Dubai’s sales cycle remains dominated by off-plan transactions, but the next test for investors is execution: how quickly today’s launches convert into completed, leasable homes as supply builds into 2026–2028.

Against that backdrop, a new 291-unit project in Majan is moving from marketing to construction—an important inflection point in a market where delivery timelines increasingly influence pricing power and resale liquidity.

Project Moves into Construction

Takmeel Developments said it has broken ground on Divine Al Barari, a residential project in Majan with a stated investment value of AED 400 million ($109 million). The scheme comprises 291 units, including duplex penthouses, studios, and one- to three-bedroom apartments, alongside more than 30 lifestyle and wellness amenities.

Also read: Dubai Off-Plan Market Dominates Week 3 2026 as Capital Stays Selective

The project is located near the intersection of Sheikh Mohammed Bin Zayed Road and Al Ain Road and is scheduled for handover in Q2 2028, according to the developer. Takmeel also said the development overlooks nearby destinations including Al Barari, Global Village and IMG Worlds of Adventure.

Commenting on the start of construction, Founder and Chairman Mian Asad Bashir said breaking ground marked “the start of another milestone for Takmeel,” adding that the company’s focus is on delivering communities that meet the needs of both investors and residents while maintaining quality and delivery discipline as the project enters its active construction phase.

Off-Plan Dominance Meets Delivery Cycle

Dubai’s transaction mix has increasingly skewed toward off-plan product, with Cavendish Maxwell estimating that off-plan accounted for roughly three-quarters of residential sales activity in Q3 2025. That dominance has been supported by payment-plan structures and sustained launch activity, while ready-property transactions have been comparatively subdued.

From a supply standpoint, the same research estimates that more than 360,000 residential units are expected to enter Dubai through 2028, with the heaviest delivery years concentrated in 2026 and 2027. For districts such as Majan—positioned between established communities and newer development corridors—delivery timing will play a central role in determining whether new stock deepens rental competition or expands end-user choice.

Why Groundbreaking Matters to Investors

For investors, a “groundbreaking” reduces one layer of uncertainty compared with a newly announced project, but it does not eliminate execution risk—particularly when handover remains more than two years away.

Capital deployment decisions therefore hinge on timing: off-plan buyers typically commit earlier in the construction cycle, while yield-focused investors may prefer greater visibility on completion, title transfer and leasing demand closer to delivery.

Also read:Dubai South Off-Plan Project Advances as Construction Begins at Altair 52

Majan’s appeal usually rests on relative entry pricing versus prime Dubai cores and on tenant demand supported by road connectivity and nearby attractions. However, when multiple projects deliver around the same period, leasing depth must be underwritten on a building-by-building basis.

For Indian and NRI buyers, this often translates into careful currency timing and scrutiny of service charges and vacancy assumptions, which can materially affect net yields if competition intensifies at handover.

Reflecting the developer’s stated priorities, Takmeel Chief Executive Hamza Asad said the company is managing “every detail, from design to construction,” with an emphasis on quality, timeliness and long-term value as the project progresses through its build phase.

Handover Timing and Supply Risk

The central constraint for investors is that a Q2 2028 handover sits within a heavy supply window for Dubai, increasing sensitivity to competing completions and incentive-led pricing at that time.

Also read: Dubai Design District Masterplan Expands as Off-Plan Sales Dominate

Cavendish Maxwell has also noted that actual residential deliveries frequently undershoot initial projections in the short term, which can reduce immediate competitive supply but also increase the probability of timeline shifts for individual projects.

Execution and Absorption Signals

Market participants will watch whether Takmeel provides further disclosure on construction milestones, contractor appointments and escrow progress, and how these align with recent delivery patterns across Dubai. More broadly, Majan’s ready-market absorption and leasing performance over the next 18–24 months will offer clearer signals on how well the submarket can absorb new inventory as the wider 2026–2028 pipeline approaches completion.

Divine Al Barari’s move into construction indicates continued developer confidence in sell-through for mid-market-to-premium residential stock outside Dubai’s prime cores, even as future supply thickens.

For investors, the development reinforces a familiar shift in the cycle: execution certainty and leasing depth are becoming more decisive than launch momentum alone. End-users may benefit from broader choice if deliveries cluster, while Indian and NRI buyers face a familiar trade-off between securing early inventory and managing the longer handover runway inherent in off-plan exposure.