Object 1 Real Estate Development

Developer overview

Object 1 calls itself a contemporary developer, and its branding makes that hard to miss: almost every project name swaps a letter for the numeral one, from Lum1nar and Verdan1a to V1ter and Elar1s. Behind the styling is a fairly focused business. The company's site describes elegant, sustainable and innovative residential projects, aimed at modern city living and backed by services designed for investors. Its Dubai office is in Emaar Square in Downtown, and it also runs an office in Abu Dhabi.

The portfolio is large for a relatively young brand and leans heavily on mid-rise and high-rise apartment buildings in Dubai's villa-and-apartment suburbs. That means resale stock tends to be plentiful and similar in type, which in turn means a buyer needs to be precise about which tower, which phase and which unit a listing actually refers to.

Portfolio and locations

The developer groups its work by area. These are the parts of the portfolio that matter most to Dubai buyers on DPF:

• Jumeirah Village Triangle – Lum1nar Tower 1, 2 and 3, Elar1s Sky, S1lviana Park, Essenl1fe and The W1nner are among the JVT names. Lum1nar Tower 3, the building behind DPF's Object 1 listing, offers studios through to 3.5-bedroom layouts, with a pool, gym, clubhouse, children's playroom and a barbecue deck. Browse JVT listings and the JVT area guide.
• Jumeirah Village Circle – Sky Level 1, Ir1dian Park, V1ter, Ozone 1 and 1Wood. See JVC listings.
• Dubai Land Residence Complex – the Verdan1a series, including Verdan1a 2 and the newer Verdan1a 4. See DLRC listings.
• Al Furjan – V1stara House and V1stara House 2. See Al Furjan listings.
• Dubai Sports City and Jumeirah Garden City – also on the developer's area list. See Dubai Sports City listings.

A1la Residence sits on Al Reem Island in Abu Dhabi and is outside the scope of this page.

Property types

Object 1 builds apartments almost exclusively. Studios and one-bedroom homes make up much of what appears on the resale market, with two-bedroom and larger layouts in some towers. Lum1nar Tower 3 stretches to 3.5 bedrooms, so even inside one building the range is wide. Because many towers share a design language, finishes and amenity packages can look alike in photographs; the registered unit plan is a far better guide than a listing image.

What buyers should verify

1. The exact tower in a numbered series. Lum1nar Tower 1, 2 and 3, or Verdan1a 1, 2 and 4, are separate projects with their own timelines. Read the project name and unit number on the Oqood.
2. Construction status. Look up the registered progress of the specific tower with the Dubai Land Department.
3. Money owed to the developer. Request Object 1's statement of account showing what has been paid under the payment plan and what is still outstanding.
4. Layout and outdoor space. Confirm on the contract floor plan whether the unit has a balcony or terrace and how it is laid out.
5. Transfer conditions. Ask whether the developer sets a minimum paid amount before it will consent to a resale.

Finding distressed and below-market Object 1 properties

With so many Object 1 towers selling off-plan at once, the supply of contract resales is steady, and some of it comes from sellers under time pressure. An investor might have bought several units at launch and decided to keep only one, or might need funds before the next construction instalment lands. That seller is motivated, and the listing may say urgent sale. If the price is under what the seller originally agreed with Object 1, it is a below original price, or below OP, listing. Below market value measures something else: how the asking figure compares with recent resales of similar units in the same tower.

Buying before completion is an off-plan resale, or assignment. You agree a figure with the seller for the instalments already paid, then take over the rest of the payment plan. Object 1 has to approve the transfer and issue its NOC, after which the Dubai Land Department re-registers the Oqood in your name. Cash buyer deals can be quicker to close, but they need the same approvals. DPF gathers these listings in one place for comparison and does not price or endorse them.