Reef 997 is an off-plan project by Reef Luxury in Dubai Islands (Palm Deira), Dubai. Prices start from AED 2,965,980, the payment plan is 20% On booking · 20% During construction · 30% Upon Handover · 30% During 30 months PH (1% per month) (post-handover over 30 months), handover is expected in Q1 2028 and construction is 4% complete.
Reef 997 is an off-plan residential building in Palm Deira, Dubai, built by Reef Luxury Development. It has 35 units in one building, listed as 1–3 bedroom apartments and duplexes. The Dubai Land Department (DLD) register shows construction started in July 2025, with completion expected in Q1 2028.
Reef 997 at a glance
| Item | Detail |
|---|---|
| Developer | Reef Luxury Development |
| Area | Palm Deira, Dubai |
| Buildings / units | 1 building, 35 units |
| Unit types | 1–3 bed, apartments and duplex |
| Starting price | From AED 2,965,980 (developer price list, may change) |
| Highest listed price | AED 7,178,681 |
| Payment plan | 20% on booking, 20% during construction, 30% on handover, 30% post-handover over 30 months (1% per month) |
| Construction start | July 2025 |
| Progress (DLD) | 4% |
| Expected completion (DLD) | Q1 2028 |
| Service charge | AED 25 per sq ft |
| Furnishing | Kitchen only |
| Sales status | On sale |
A note on the prices
The price data for this project is not fully consistent. The starting price is AED 2,965,980. Yet the unit-type list includes lower figures, such as a 775 sq ft one-bedroom from AED 1,338,425 and a 1,045 sq ft two-bedroom from AED 1,572,993. Larger two-bedrooms (1,915 and 2,187 sq ft) are listed from AED 4,974,980 and AED 5,573,767. Please ask Dani to confirm current prices and availability before you rely on any figure here.
Amenities and finish
The listed amenities are an infinity swimming pool, jacuzzi, kids' pool, decking area, cabana, hammock forest area, vegetable garden, gym, yoga area, BBQ area, outdoor cinema, kids' playground and a "Baja shelf". The developer says kitchens have Bosch appliances. It also mentions a four-bedroom penthouse, which the DLD unit types do not list, so confirm the unit mix with Dani.
Location: Palm Deira
Palm Deira is a waterfront area off the Deira coast in northeast Dubai. Many buyers still use the name for the man-made islands now marketed as Dubai Islands. The area is still being built, so the surroundings will change over the coming years.
Distances from the project data, measured in kilometres (drive times were not provided):
- Dubai Islands Beach: 5.0 km
- Tiny Tots Nursery: 6.5 km
- Century Mall: 6.9 km
- Dubai Island Marina Slipway: 7.3 km
- Dubai International Airport: 9.8 km
- Downtown Dubai: 20.7 km
The location may suit buyers who want a beach-side address close to the airport and older Deira. It may also suit investors who are comfortable waiting for a new community to mature. See other options on our Palm Deira off-plan projects page.
Construction progress and handover
DLD shows 4% progress, which is an early stage. Expected completion is Q1 2028. That date is an expectation, not a promise, and dates can move. The project is not complete.
Before you buy, check these points:
- The latest progress figure on the DLD register.
- The escrow account details and the payment schedule in the sale agreement.
- The final floor plan, size and price of your exact unit.
- How the 30-month post-handover instalments work, and what happens if you pay late.
- The service charge of AED 25 per sq ft. For a 1,000 sq ft unit that would be about AED 25,000 a year, based on the figure provided.
Units are handed over with a kitchen only, so budget for furnishing.
About the developer
Reef Luxury Development is the developer of Reef 997. It is not one of Dubai's largest developers, so check its track record carefully. Ask for details of completed and current projects. You can see its other launches on the Reef Luxury projects page.
How to buy off-plan in Reef 997
- Choose and reserve. Pick a unit and pay the booking amount. The payment plan lists 20% on booking.
- Sign the sale and purchase agreement (SPA). Read the payment schedule and handover terms.
- Register with DLD. Off-plan sales are registered through Oqood. The DLD fee is 4% of the price, plus admin fees.
- Pay into escrow. Under Dubai law, buyer payments for off-plan projects go into a project escrow account.
- Handover. Pay the 30% due at handover, then the remaining 30% in monthly 1% instalments over 30 months.
Foreign buyers can generally buy in designated freehold areas of Dubai. A property worth AED 2 million or more may help you qualify for a Golden Visa, but the rules have conditions, and off-plan eligibility can differ. Check the current requirements. Our buying in Dubai FAQ covers the basics.
For the current price list, floor plans and payment plan, contact Dani. You can also compare other launches in all Dubai off-plan projects.
Frequently asked questions
Who is the developer of Reef 997?
Reef 997 is developed by Reef Luxury Development. You can see its other projects on our Reef Luxury developer page.
Where is Reef 997?
It is in Palm Deira, Dubai, an area off the Deira coast. The project data lists Dubai Islands Beach 5.0 km away and Dubai International Airport 9.8 km away.
When is Reef 997 expected to be handed over?
DLD data shows expected completion in Q1 2028. Construction started in July 2025 and was 4% complete at the last update. Dates can change, so ask for current progress.
Is Reef 997 registered with DLD and does it use escrow?
The project appears in the DLD project register. Off-plan buyer payments in Dubai should go into a project escrow account, and you should confirm the account details before paying.
What is the payment plan and how do I get prices?
The plan is 20% on booking, 20% during construction, 30% on handover and 30% over 30 months after handover (1% a month). Contact Dani for the latest price list, floor plans and availability.
Can foreigners buy in Reef 997?
Foreign buyers can generally buy freehold property in designated areas of Dubai. Confirm eligibility for this project with Dani before you reserve.
Project facts come from the Dubai Land Department project register and the developers' published price lists, and are refreshed regularly. Prices, availability and payment plans can change at any time: ask Dani for the latest.
Prices, availability and payment plans change often and are set by the developer. Ask for the latest details before making a decision.
