Chelsea Residences, Maritime City: A Waterfront Apartment Play from DAMAC
Chelsea Residences by DAMAC sits in Maritime City, a purpose-built waterfront district on the Arabian Gulf coastline of Dubai. DAMAC Properties launched construction here in July 2025, with a targeted handover of December 2029.
Maritime City occupies a peninsula southeast of Port Rashid. Water sits on multiple sides of the district, and a significant share of apartments in a project positioned here will carry sea exposure. The area lies roughly 15 minutes by road from Downtown Dubai and around 10 minutes from the Bur Dubai side of the creek. The district is still developing its local retail and dining ecosystem. On-site restaurants within the project partially bridge that gap for day-to-day convenience. Buyers in Maritime City are generally buying the water and the longer capital story, not a fully formed neighborhood.
AED 2.3 Million to AED 4.9 Million: Understanding the Spread
Pricing runs from AED 2,320,000 at entry to AED 4,944,000 at the top. The 2.1x spread reflects differences in floor level, orientation, and unit size within the same building. The gap between entry and top is AED 2.6 million, which is significant within a single project.
The lower range is where one-bedroom and smaller two-bedroom apartments on mid floors typically sit. The upper range, approaching AED 5 million, is for larger layouts and high-floor positions with sea-facing exposure. A buyer at AED 2.3 million and one at AED 4.9 million are making materially different bets: one on entry-level waterfront exposure, the other on a specific premium floor and view.
A Straightforward Apartment Play
The project delivers apartments only. No villas or townhouses. For investors, that is a clean buy-to-let proposition without the complexity of a mixed-use asset. For owner-occupiers, it means a managed building lifestyle close to the water, with no standalone property upkeep. The single property type also produces a more homogeneous resident base.
What the Amenities Say About the Target Resident
| Category | Facilities |
|---|---|
| Wellness & Sport | Indoor Swimming Pool, Gymnasium, Cycle Track |
| Outdoor & Leisure | Landscaped Gardens |
| Dining | Restaurants |
| Family | Children's Play Area |
The indoor pool provides year-round usability; outdoor activity in Dubai's peak summer months is limited by heat. The cycle track gives residents a dedicated fitness route within the building's footprint, separate from the gymnasium.
The overall set reads as practical and well-rounded. On-site restaurants and a children's play area together point to DAMAC targeting family tenants and settled owner-occupiers alongside investor buyers.
Three Years to Handover
Construction started in July 2025 and completion is targeted for December 2029, roughly three years and two months from now. An off-plan buyer entering at this stage locks in today's pricing and carries the off-plan holding period before keys or rental income become available. The construction-phase installments spread a large share of the purchase price across that window, reducing the capital required at signing.
Getting In for 20%
| Stage | Percentage |
|---|---|
| Down Payment | 20% |
| During Construction | 40% |
| Handover | 40% |
The 20% down payment translates to AED 464,000 at the entry price and AED 988,800 at the top of the range. The 40% construction tranche spreads across the build period through to late 2029. The final 40% falls due at handover in one payment.
The full balance clears when keys are exchanged. For a cash buyer, the handover payment is the single largest outlay in the purchase cycle. For buyers using mortgage financing, the loan against the property becomes active at that handover date.