997 Residences by Reef Luxury Development

1. Is it on schedule?0% built in July 2026 against a March 2028 handover: 100% left to build in 20 months · DLD project register, Jul 20260%Context
2. Is my money protected?Payments go to an escrow account at بنك أبوظبي الأول ش.م.ع., as registered with the Land DepartmentEscrowContext
3. Is the price fair?AED 2,618/sqft, 5.0% below the Dubai Islands off-plan median across 112 projects-5.0%Context
4. Is it selling?20 off-plan sales registered in the last 12 months, of 63 units; the latest on 22 Sept 202620Context
5. Who is building it?Reef Luxury, licence no. 1944Context

Sizes run from the 10th to the 90th percentile of registered floor area, so one mislabelled unit cannot set the range. A title is issued at handover: a live project shows few or none however many units have sold, and an untitled unit is not necessarily for sale.

Escrow agent

بنك أبوظبي الأول ش.م.ع.

Developer, as licensed

REEF LUXURY DEVELOPMENT L.L.C (no. 1944)

Master developer

Nakheel

Registered start

July 2025

Configuration

G+2P+8 Residential Building Consist of 1 Bedroom with Balcony =23 Rooms, 2 Bedroom with Balcony =36 Rooms, 3 Bedroom with Balcony =3 Rooms + 4 Bedroom with Balcony = 1 Room Total of 63 Rooms

Construction progress is the percentage DLD recorded in its project register as of July 2026, the latest DLD record for this project; the register lags DLD’s inspections by months, so it is dated separately. The developer is the company licensed to build it, by the register’s own licence number; the master developer owns the land under it and is often another company entirely. Off-plan price is the median of registered off-plan sales across this project’s published buildings, 12 months to 12 Oct 2026.

When will 997 Residences by Reef Luxury Development be completed?

The developer registered handover for March 2028, 20 months after DLD’s latest record, and the project was 0% built as of July 2026. A registered date is the developer’s own, not a delivery forecast. Dubai Land Department project register as of July 2026.

What does 997 Residences by Reef Luxury Development cost per square foot?

AED 2,618 per sqft, the median of 20 registered off-plan sales in the 12 months to 12 Oct 2026; the median unit sold for AED 2.18M. That is 5.0% below the Dubai Islands off-plan median across 112 projects.

Is 997 Residences by Reef Luxury Development in escrow?

Yes: the Land Department register names بنك أبوظبي الأول ش.م.ع. as the project’s escrow agent, the bank that holds buyers’ payments for the developer. Dubai Land Department project register as of July 2026.

Who is the developer of 997 Residences by Reef Luxury Development?

REEF LUXURY DEVELOPMENT L.L.C, licence no. 1944, by the register’s own licence number; the master developer that owns the land is Nakheel. Dubai Land Department project register as of July 2026.

How many units does 997 Residences by Reef Luxury Development have?

63 registered units, of which 0 have a title issued. A title is issued at handover, so a live project shows few or none however many units have sold. Dubai Land Department project register as of July 2026.