7.9
OSNOVA Score /10
Commercial Review · Majan, Dubai
The Vault
IMTIAZ · Boutique offices and retail
The Vault is a boutique commercial building by IMTIAZ in Majan, Dubailand. It has 69 offices from 700 sq ft and 8 retail units from 900 sq ft on the ground floor, with prices from AED 1.4M for an office and AED 2.4M for a shop.
The building is designed around daylight and usable layouts: floor-to-ceiling glazing, modular office configurations, a reception lobby with a lounge and café on the ground floor, and a communal rooftop with a lounge, pantry, relaxation and social areas, a recreation zone and a refreshment bar.
Majan sits on the E311 (Sheikh Mohammed Bin Zayed Road) with direct access: Al Barari 3 minutes, IMG Worlds and Global Village 5 minutes, Silicon Central Mall 10 minutes, Dubai Hills Mall 15 minutes, Dubai International Airport and DIFC 25 minutes.
The case for the project is the neighbourhood. The new communities around Majan and Dubailand are home to more than 300,000 residents, and the area has very little office space. Businesses that serve these residents, from clinics to consultancies and service companies, have few office options nearby. A 700 sq ft office, the most popular size on the market, close to where people live is what this district lacks.
| Unit | Size, sq ft | From, AED | AED / sq ft |
|---|---|---|---|
| Office | from 700 | 1,400,000 | 2,000 |
| Retail unit | from 900 | 2,400,000 | 2,667 |
69 offices on five floors (15 per floor on floors 1 to 4, 9 on floor 5) and 8 retail units on the ground floor. Building: basement, ground, two podium parking levels, five office floors and a rooftop.
| Stage | Share | AED | Date |
|---|---|---|---|
| Booking | 20% | 280,000 | On booking |
| Instalment 1 | 5% | 70,000 | 15 March 2027 |
| Instalment 2 | 5% | 70,000 | 1 August 2027 |
| Instalment 3 | 5% | 70,000 | 15 December 2027 |
| Instalment 4 | 5% | 70,000 | 1 March 2028 |
| Instalment 5 | 5% | 70,000 | 15 June 2028 |
| Instalment 6 | 5% | 70,000 | 1 September 2028 |
| On completion | 50% | 700,000 | 15 December 2028 |
Calculated on AED 1,400,000. DLD registration of 4% is paid at booking. The 50% due on completion can be financed with a mortgage after handover.
Modelled on a 700 sq ft office at an entry of 2,000 AED/sq ft over 2.1 years.
Commercial property carries 5% VAT on the price, recoverable for VAT-registered owners who lease the unit out. Full breakdown: what it costs to buy an office in Dubai.
IMTIAZ has built its name on handing over on schedule and on high construction standards. For an off-plan office this is the first risk to remove.
The office is going up in a fast-growing residential cluster with more than 300,000 people and a visible shortage of office space.
700 sq ft is the most popular office size on the market: easy to let, easy to resell, affordable for owner-occupiers.
69 offices in the whole building. Fewer competing units when you look for a tenant or a buyer.
With 50% due on completion, the second half can be financed with a mortgage once the building is handed over.
The price of The Vault may not grow as much as some buyers expect: Majan is a residential district, not Business Bay. The neutral scenario takes the office from 2,000 to 2,700 AED per sq ft by handover.
The stronger argument is income. A scarce office in a well-populated new district should let well and produce a high rental yield, the way offices do in Arjan, JVC and JLT, where residential density keeps small offices occupied. At 250 AED per sq ft a year, a 700 sq ft office earns AED 175,000, a gross yield of 12.5% on the purchase price.
Add a 50/50 plan, a developer with a delivery record and the option to mortgage the final payment, and The Vault is a sensible entry for an investor who wants cash flow from a small office.
In Majan, Dubailand, with direct access to the E311 (Sheikh Mohammed Bin Zayed Road). Global Village and IMG Worlds are 5 minutes away, Dubai Hills Mall 15 minutes, DIFC and the airport 25 minutes.
Offices start from AED 1.4M for 700 sq ft (2,000 AED per sq ft). Retail units start from AED 2.4M for 900 sq ft.
50/50: 20% on booking, six instalments of 5% between March 2027 and September 2028, and 50% on completion in December 2028.
At 250 AED per sq ft a year a 700 sq ft office earns AED 175,000, a gross yield of 12.5% on the purchase price and about 11.6% net of the 18 AED per sq ft service charge.
Disclaimer. This review is independent analysis by OSNOVA Property for informational purposes only and does not constitute investment, financial, tax or legal advice. Pricing, payment plans, handover dates and yields reflect developer marketing material and OSNOVA modelling at the time of writing and are subject to change. Capital appreciation scenarios are illustrative projections, not guarantees. Renderings are artistic impressions by the developer. Verify all figures directly with the developer and the Dubai Land Department before entering any transaction. OSNOVA Property may act as a buyer's or sell-side agent.