OffplanIndex
Developer benchmark · July 2026

Emaar off-plan projects: AED 2,068/sqft

Emaar has 240 off-plan projects in our July 2026 dataset across 28 communities (most in The Valley, Dubai Creek Harbour, Dubai Hills Estate), ranking #1 by project count among UAE developers we track.

Across 1,712 priced unit records the median asking price is AED 2,068 per sqft (2% above the Dubai-wide off-plan median), with the middle half between AED 1,624 and AED 2,485.

The median unit is AED 3.19M for 1,554 sqft.

Emaar payment plans typically ask 10% on booking and 80% before handover; 11% include post-handover instalments.

Its heaviest handover year is 2029 with 82 projects due.

#1 of 391 developers by projects#68 of 208 by AED/sqft240 projects1,712 priced unitsDubai 331 · Ras Al Khaimah 1

Are you Emaar? Add a sales contact to your projects on this page.

Developer portal
Median AED/sqft
2,068
p25 1,624 to p75 2,485
Median asking price
AED 3.19M
for a median 1,554 sqft unit, in the AED 3M to 5M band
Paid before handover
80%
median of 272 payment plans
Communities
28
The Valley, Dubai Creek Harbour
6 of 6 measures have the evidence to publish

Scorecard

Completions on record
92
2019 to 2026, 8 handover years
Live off-plan
240
26 communities, 1,712 priced units
Price against neighbours
1.10x
10% above the other builders at the same addresses
Payment plan discount
6.25%
median of 179 priced schedules, market 5.26%
MeasureThis developerBaseWhat it says, and does not
Completions on record92240 off-planBuildings the corpus records as handed over, 2019 to 2026, 49 of them since 2024. It is a count of completions, not a punctuality record: see the note below.
Past its stated handover2 of 2401% vs 6% marketOff-plan projects whose own published handover date has passed while the source still records them as under construction. One observation cannot separate a delayed building from a listing nobody refreshed, so this is a flag to check, not a finding.
Price against neighbours1.10x64 projectsEach project’s median rate per sqft over the median of the other builders in the same community, then the median of those. The developer’s own projects are excluded from the benchmark. Middle half 0.94x to 1.33x.
Payment plan discount6.25%179 schedulesHow much less the unit costs in today’s money than its headline, once the published schedule is discounted. Market median 5.26%. Terms, not price: the full ranking.
Community footprint26 communities240 located projectsA spread book: 20% of it sits in The Valley. Concentration is a fact about exposure, in either direction, not a verdict.
Listing completeness85%240 off-planShare of five listing facts published across its own projects: price 86%, handover date 100%, unit inventory 75%, payment plan 78%, coordinates 85%. Market 86%. This scores disclosure, not the buildings.

The scorecard does not measure whether Emaar hands over on time. Every project in this corpus carries one handover date, the date its listing stated when we read it. There is no separately recorded original announced date and no earlier reading of the same project to compare against, so no on-time rate can be computed, and we publish none rather than a proxy. The completions column is also bounded by what the corpus can see: 1,034 of the 1,087 delivered buildings on record handed over in 2020 or later (96%), and the corpus only sees projects that were listed on the portals we read, so an absent completion is an absence of evidence rather than evidence of absence. Full definitions, queries and limitations: methodology.

Distribution of asking price per sqft

Where the prices sit

p25median 2,068p759991,6422,2852,9293,5724,215
Min
789
p25
1,624
Median
2,068
Mean
2,138
p75
2,485
Max
5,976

501 of the 1,712 records are individual units with a listed price and size; the rest are unit-type starting prices. See methodology.

Price, size and AED/sqft

By bedroom count

TypeUnitsMedian AED/sqftp25 to p75Median priceMedian sizeEntry (p25 price)
1 BR3722,1792,046 to 2,551AED 1,660,888778 sqftAED 1,608,888
2 BR5012,2411,951 to 2,570AED 2,843,1691,261 sqftAED 2,400,888
3 BR4862,0291,320 to 2,576AED 3,970,0001,914 sqftAED 3,145,690
4 BR2421,4191,184 to 1,803AED 4,700,0003,668 sqftAED 3,413,166
5 BR941,5231,226 to 1,755AED 10,666,9447,770 sqftAED 8,878,888
6+ BR171,8821,807 to 1,999AED 24,400,00012,958 sqftAED 23,470,000

By property type (median AED/sqft): Apartment 2,241 (1,155), Townhouse 1,250 (291), Villa 1,631 (261), Penthouse 5,722 (4).

From 272 published plans

Payment plan norms

Median Emaar structure
70%
20%
Dubai-wide median structure
20%
40%
30%
On bookingDuring constructionOn handoverPost-handover

Medians are computed stage by stage, so bars may not sum to exactly 100. Plans with a stated total outside 90 to 110% are excluded.

On booking
10%
range 10% to 10%
Before handover
80%
range 80% to 80%
Post-handover plans
11%
median 30% after keys
50% or less pre-handover
10%
share of plans
Scheduled handovers by quarter

Delivery pipeline

5
Q1 '25
3
Q2 '25
7
Q3 '25
12
Q4 '25
2
Q1 '26
6
Q2 '26
11
Q3 '26
16
Q4 '26
7
Q1 '27
3
Q2 '27
9
Q3 '27
9
Q4 '27
6
Q1 '28
17
Q2 '28
15
Q3 '28
28
Q4 '28
23
Q1 '29
24
Q2 '29
22
Q3 '29
13
Q4 '29
19
Q1 '30
8
Q2 '30
6
Q3 '30
1
Q4 '30
1
Q1 '31
1
Q2 '31

By year: 2020 (6), 2021 (2), 2022 (9), 2023 (25), 2024 (15), 2025 (27), 2026 (35), 2027 (28), 2028 (66), 2029 (82), 2030 (34), 2031 (2). Construction status: under construction 191, completed 81, not stated 58, not started 2.

Every community where its book is deep enough for its own benchmark

Emaar by address

A community earns a page here at 25 or more priced records across two or more Emaar projects. Each one holds the builder still and compares it with everyone else selling at the same address.

28 communities

Where Emaar builds

240 tracked

Every Emaar off-plan project

Open in the index
ProjectCommunityTypeFromMedian AED/sqftPre-handoverHandoverStatus
Marina ViewsMina RashidApartmentAED 1.65M2,07880%Q4 2028Sold out
Creek Waters By EmaarDubai Creek HarbourApartment, TownhouseAED 1.60M1,92090%Q3 2027Sold out
Vida Residences Club PointDubai Hills EstateApartmentAED 1.61M2,07180%Q1 2029Sold out
St Regis The ResidencesDowntown DubaiApartmentAED 2.62M3,19270%Q4 2026Sold out
Ocean Point 1 By EmaarMina RashidApartment, TownhouseAED 1.66M1,89290%Q2 2028Sold out
Ocean StarMina RashidApartmentAED 1.70M1,90690%Q3 2028Sold out
Club DriveDubai Hills EstateApartmentAED 1.63M2,21090%Q1 2028Sold out
Golf GrandDubai Hills EstateApartmentAED 1.65M2,01420%Q1 2027Sold out
SunridgeMina RashidApartmentAED 1.36M1,75890%Q1 2027Sold out
Address Residences at Dubai Hills EstateDubai Hills EstateApartment, TownhouseAED 1.93M2,53880%Q1 2029Sold out
Anya Arabian Ranches by EmaarArabian Ranches 3TownhouseAED 2.01M1,04630%Q4 2026Sold out
Palace Residences NorthDubai Creek HarbourApartment, TownhouseAED 1.23M1,81580%Q2 2027Sold out
The BristolDubai HarbourApartment, PenthouseAED 3.66M4,43680%Q3 2029Sold out
Avarra by PalaceBusiness BayApartment, PenthouseAED 2.89M3,50590%Q2 2031On sale
AvonleaMina RashidApartmentAED 1.70M1,94490%Q4 2027Sold out
Terra WoodsExpo City DubaiApartment, TownhouseAED 1.61M2,19880%Q1 2030On sale
Baystar by VidaMina RashidApartmentAED 2.11M3,86880%Q4 2029On sale
Sera Phase 2 By EmaarMina RashidApartment, TownhouseAED 2.11M2,78280%Q4 2029On sale
Address The BayDubai HarbourApartment, Penthouse, TownhouseAED 3.32M3,56680%Q4 2026Sold out
AlberoDubai Creek HarbourApartment, TownhouseAED 1.81M2,23680%Q3 2029On sale
Creek BayDubai Creek HarbourApartmentAED 1.80M2,67580%Q2 2030On sale
Rosehill by EmaarDubai Hills EstateApartmentAED 1.68M2,29380%Q2 2029On sale
ParklandDubai Hills EstateApartmentAED 1.50M2,02780%Q4 2028Sold out
Emaar BeachgateDubai HarbourApartment, PenthouseAED 3.07M4,17780%Q4 2026Sold out
Moor at Creek BeachDubai Creek HarbourApartmentAED 1.60M2,33580%Q4 2026Sold out
Pier Point Phase 2 By EmaarMina RashidApartment, TownhouseAED 1.93M2,37580%Q4 2028Booking Started
VeneraThe ValleyTownhouseAED 2.48M1,02980%Q3 2028Sold out
Anya Phase 2 By EmaarArabian Ranches 3TownhouseAED 2.28M1,19190%Q4 2026Sold out
Creek HavenDubai Creek HarbourApartmentAED 1.96M2,97680%Q1 2030On sale
Fior 1Mina RashidAED 2.71M3,18980%Q3 2030On sale
VinderaThe ValleyTownhouseAED 3.17M1,32390%Q4 2028Sold out
AltanDubai Creek HarbourApartment, TownhouseAED 3.22M2,24280%Q3 2029On sale
Marina Place Phase 2 by EmaarMina RashidApartment, TownhouseAED 2.08M2,43980%Q4 2028Sold out
Golf AcresDubai SouthApartment, TownhouseAED 950K1,28680%Q4 2028Sold out
Golf EdgeDubai SouthApartment, TownhouseAED 1.17M1,39280%Q1 2029Sold out
Golf HillsDubai SouthApartment, TownhouseAED 1.06M1,47180%Q3 2029Sold out
Marina Place By EmaarMina RashidApartment, TownhouseAED 2.08M2,36380%Q4 2028Sold out
Palace Residences Hillside ADubai Hills EstateApartment, TownhouseAED 1.72M2,62480%Q2 2029On sale
Vida Residences DHEDubai Hills EstateApartment, TownhouseAED 1.69M2,18790%Q4 2027Sold out
Lyvia by PalaceDubai Creek HarbourApartment, TownhouseAED 2.68M2,40980%Q3 2029On sale
Terra GardensExpo City DubaiApartment, TownhouseAED 1.64M2,13780%Q4 2029On sale
Avelia The ValleyThe ValleyAED 7.25M1,68280%Q4 2029On sale
GreencrestDubai Hills EstateApartmentAED 1.74M2,12480%Q2 2029On sale
SalvaThe HeightsAED 6.76M1,95480%Q3 2030On sale
Alana at The ValleyThe ValleyVillaAED 3.50M1,04690%Q3 2027Sold out
ArloDubai Creek HarbourApartment, TownhouseAED 1.70M2,19190%Q4 2028Sold out
EquiterraDubai Investments ParkTownhouse, VillaAED 3.50M1,61580%Q3 2029Sold out
Golf LaneDubai SouthVillaAED 4.48M1,10780%Q4 2028Sold out
MayArabian Ranches 3TownhouseAED 2.37M1,29990%Q3 2027Sold out
Palace Villas OstraThe Oasis by EmaarVillaAED 13.1M1,79980%Q3 2029Sold out
ParkwoodDubai Hills EstateApartment, TownhouseAED 1.93M2,51480%Q1 2029On sale
Rivana The ValleyThe ValleyTownhouseAED 3.40M87790%Q1 2027Sold out
AureaMina RashidApartmentAED 2.31M2,89280%Q2 2030On sale
SelvaraDubai Investments ParkVillaAED 6.20M1,63280%Q2 2029Sold out
SerroThe HeightsAED 6.87M1,98380%Q1 2030On sale
Address Residences ZabeelZabeelApartment, PenthouseAED 2.68M3,42090%Q3 2029On sale
Address Villas TierraThe Oasis by EmaarVillaAED 13.2M1,77680%Q2 2029Sold out
HillsedgeDubai Hills EstateApartmentAED 1.86M2,61780%Q1 2029On sale
Mareva 2 The OasisThe Oasis by EmaarVillaAED 13.8M1,90680%Q1 2030Sold out
Mareva The OasisThe Oasis by EmaarVillaAED 13.5M1,84180%Q1 2030Sold out
Montiva by VidaGreen Gate at Dubai Creek HarbourAED 1.92M2,53880%Q3 2029On sale
Ovelle The ValleyThe ValleyAED 8.87M1,61280%Q4 2029On sale
Silva Dubai Creek HarbourGreen Gate at Dubai Creek HarbourAED 1.79M2,12680%Q3 2029On sale
Fairway Villas Phase 2 By EmaarDubai SouthVillaAED 3.21M1,05285%Q4 2026Sold out
Kaia at The ValleyThe ValleyTownhouseAED 2.72M1,20480%Q3 2028Sold out
Mirage The OasisThe Oasis by EmaarVillaAED 15.8M1,54580%Q2 2028Sold out
Vida Residences HillsideDubai Hills EstateApartment, TownhouseAED 1.91M2,62080%Q2 2029On sale
Vista RidgeDubai SouthApartmentAED 1.30M1,90880%Q3 2029Sold out
BaylineMina RashidApartment, Duplex, TownhouseAED 1.62M2,05490%Q4 2027Sold out
Elea at The ValleyThe ValleyTownhouseAED 2.99M1,23680%Q2 2028Sold out
Elora The ValleyThe ValleyTownhouseAED 1.86M88380%Q3 2026Sold out
ElvaThe ValleyTownhouseAED 2.89M1,20580%Q4 2028Sold out
Farm Gardens phase 2 By EmaarThe ValleyVillaAED 7.58M1,20590%Q1 2028Sold out
GreenridgeDubai SouthTownhouseAED 2.94M1,21680%Q4 2028Sold out
Greenville By EmaarDubai SouthTownhouseAED 3.20M1,34980%Q1 2029Sold out
Greenville Phase 2 By EmaarDubai SouthTownhouseAED 3.20M1,34980%Q1 2029Sold out
Greenway Phase 2 By EmaarDubai SouthTownhouseAED 2.72M1,12080%Q2 2028Sold out
Nima The ValleyThe ValleyTownhouseAED 2.34M1,05080%Q3 2027Sold out
Ocean ViewsMina RashidApartmentAED 2.07M2,43280%Q3 2028Sold out
OriaDubai Creek HarbourApartmentAED 1.71M2,20890%Q4 2025Sold out
Velora Phase 2 By EmaarThe ValleyTownhouseAED 2.93M1,21480%Q3 2028Sold out
CedarDubai Creek HarbourAED 4.36M2,58740%Q3 2026On sale
Palmeira The OasisThe Oasis by EmaarVillaAED 9.74M1,60085%Q4 2027Sold out
Pier Point By EmaarMina RashidApartment, TownhouseAED 3.19M2,49980%Q4 2028On sale
Serro 2The HeightsAED 6.84M1,98480%Q2 2030On sale
Avena By EmaarThe ValleyVillaAED 4.37M1,18460%Q2 2028Sold out
Avena Phase 2 By EmaarThe ValleyVillaAED 4.37M1,17880%Q3 2028Sold out
Equiterra 2 at Grand Polo & ResortDubai Investments ParkTownhouseAED 3.50M1,61580%Q3 2029Sold out
Golf MeadowDubai SouthApartment, TownhouseAED 3.14M1,78980%Q2 2029Sold out
GreenwayDubai SouthTownhouseAED 3.15M1,03790%Q2 2028Sold out
Rivera at the ValleyThe ValleyVillaAED 4.78M1,29480%Q4 2028Sold out
Sera by EmaarMina RashidApartmentAED 2.10M2,64380%Q4 2029Waiting For Sales Start
Chevalia Fields at Grand Polo Club & ResortDubai Investments ParkVillaAED 7.34M1,76280%Q2 2029Booking Started
Club PlaceDubai Hills EstateApartmentAED 2.85M2,40980%Q4 2028On sale
Golf HillsideDubai Hills EstateApartmentAED 2.90M2,47780%Q4 2027On sale
Greenspoint Phase 2 By EmaarDubai SouthTownhouseAED 3.53M1,46080%Q1 2029Booking Started
Palace Residences Creek BlueDubai Creek HarbourApartmentAED 3.80M2,61520%Q1 2029On sale
Salva The HeightsThe Heights Country Club & WellnessVillaAED 6.75M1,92185%Q3 2030Waiting For Sales Start
Address Residences Al Marjan IslandAl Marjan IslandApartment, TownhouseAED 8.48M3,45780%Q4 2028On sale
Chevalia EstateDubai Investments ParkVillaAED 9.00M1,39680%Q1 2029Sold out
Also tracked, 232 projects beyond the table: Equestra at Grand Polo Club & Resort, Fairway Villas Phase 3 By Emaar, Golf Trails, Grand Polo Club and Resort, Lavita The Oasis, Lillia at The Valley, Mangrove By Emaar, Oasis Address Branded Villas, Park Gate, Park Horizon, Porto View, Selvara Phase 2 By Emaar, Selvara Phase 3 by Emaar, Selvara Phase 4 by Emaar, The Farm Gardens By Emaar, Valia Tower, Avelia, Bayview by Address Resorts, Chevalia Estate Phase 2 By Emaar, Emaar Altus, Farm Grove, Farm Grove Phase 2 by emaar, Greenside Residence, Grove Ridge, Palmiera 2 at The Oasis, Palmiera 3 at The Oasis, Seapoint, Aeon, Clearpoint, Fairway Villas By Emaar, Golf Vale, Greenspoint, Montura 2 at Grand Polo, Montura 3 at Grand Polo, Park Gate Phase 2 By Emaar Properties, Park Lane Residences by Emaar, Parkside Views, Savanna, Valo, Velora By Emaar, Creek Waters Phase 2 By Emaar, Golf Hills 2, Marina Cove, Marina Shores, Ocean Cove, Parkside Hills, The Cove Phase 2 By Emaar, The Valley West, Velora and Venera at The Valley, ANYA Townhouses, Address Bayview Tower 1, Address Bayview Tower 2, Address Harbour Point, Address Hillcrest, Address Residences, Address Residences The Bay, Address Residences Tower A, Address Residences Tower B, Address Residences at Dubai Creek Harbour, Address Villas Hillcrest, Alana , Alva, Alva 2, Alva 2 at the Valley, Alva 3, Alva 3 the valley, Alva The Valley, Anya, Arlo at Creek Beach Harbour, Avena at The Valley, BLVD Crescent, BLVD Heights, Bayshore at Creek Beach, Bayview By Emaar, Beach Isle, Beach Mansion, Beachgate by Address, Bliss By Emaar, Bliss Phase 2 By Emaar, Burj Crown, Caya By Emaar, Caya Phase 2 By Emaar, Cedar Creek Beach, Chevalia Fields, Creek Beach Grove, Creek Beach Lotus, Creek Beach Orchid, Creek Beach Rosewater, Creek Beach Surf, Creek Crescent, Creek Edge, Creek Palace, Creek Rise Tower 1, Eden, Elea, Elie Saab 1, Elie Saab 2, Elie Saab Dubai By Emaar, Elie Saab Phase 2 At Arabian Ranches 3 By Emaar, Elora, Elva at The Valley, Elvira, Emaar Expo Living, Emaar Fior, Equestra, Equiterra 2, Expo Golf Villas 4, Expo Golf Villas 5, Expo Golf Villas 6, Farm Gardens Villas, Farm Gardens Villas 2, Farm Grove The Valley, Faro, Faro 2, Faro 2 At The Heights, Faro At The Heights, Fior 2, Forte Phase 2 By Emaar, Golf Dale, Golf Fields, Golf Heights, Golf Place By Emaar, Golf Place Phase 2 By Emaar, Golf Point, Golf Verge, Golf Views, Golf ville, Grand Bleu Tower, Greenview Phase 3 By Emaar, Greenviews Phase 2 By Emaar, Greenville 1 and 2 Phases, Grove Building 1, Grove Building 2, Grove Building 3, Grove Building 4, Grove Building 5, Harbour Gate, Hills Park, IL Primo, Island Park By Emaar, Island Park Phase 2 By Emaar, June By Emaar, June Phase 2 By Emaar, Kaia, Lamborghini Mansions, Lavita, Lillia, Lime Gardens, Lotus, Majestic Vistas, Mareva 1 and 2 The Oasis, Marina Vista, Mira Oasis, Montiva, Montiva at Emaar Green Gate, Montura, Montura 2, Montura 3, Montura at Grand Polo, Nara, Nara At The Valley By Emaar, Nara Phase 2 By Emaar, Nima, Ocean Point, Opera Grand, Orania, Orania The Valley, Orchid At Creek Beach, Ostra Palace Villas, Ovelle, Palace Beach Residence, Palace By The Beach, Palace Residences - Dubai Creek Harbour, Palace Residences Building 1, Palace Residences Building 2, Palace Residences Building 3, Palace Residences Dubai Hills, Palace Residences Dubai Hills Estate, Palace Residences Hillside B, Palm Hills, Palmiera, Palmiera 2, Palmiera 3, Palmiera Collective, Park Field, Park Heights, Park Point, RIVANA, Raya, Raya At Arabian Ranches 3 By Emaar, Rivera, Rosewater Building 1, Rosewater Building 2, Rosewater Building 3, Ruba, Ruba Townhouses Phase 2 By Emaar, Seagate, Seascape, Sera 1 Tower B, Serro 2 at The Heights, Serro The Heights, Silva, Sirdhana, Socio at Dubai Hills Estate, Summer, Sun Arabian Ranches Phase 3 By Emaar, Sunrise Bay, Talia, Talia the Valley, Terra Heights, The Address Residences Dubai Opera, The Bristol Luxury Hotels & Resorts, The Oasis - Palmiera Collective, The Oasis Address, The Oasis Palmiera, The Residence Burj Khalifa, Tierra Address Villas, Urbana, Valoria The Oasis, Vida Dubai Mall Tower 1, Vida Dubai Mall Tower 2, Vida Dubai Marina, Vida Residence Downtown, Vida Residences Creek Beach, Vida Residences Dubai Hills Estate, Vida by Emaar, Vindera at The Valley, Virella, Virella 2, Virella 3, Virella at The Valley, W Residences.

Project facts (name, community, starting price, handover, payment plan) are as published by the developer. Median AED/sqft is our computation over that project's priced units.

Compare on AED/sqft

Developers at a similar price point

DeveloperProjectsPriced unitsMedian AED/sqftvs EmaarPre-handover
Iman Developers11722,080+1%60%
NAAS1442,056-1%50%
Sama Ezdan4302,082+1%70%
Majid Al Futtaim151272,053-1%60%
Purvanchal2642,090+1%75%
Palladium5322,097+1%60%
FAQ

Questions this data answers

What is Emaar's average off-plan price per sqft?+

Across 1,712 priced units in 239 Emaar projects (July 2026), the median asking price is AED 2,068 per sqft, with the middle half between AED 1,624 and AED 2,485.

Where is Emaar building off-plan?+

Emaar has projects in 28 communities. The largest concentrations are The Valley (56), Dubai Creek Harbour (54), Dubai Hills Estate (46), Dubai South (28), Mina Rashid (26).

What payment plan does Emaar usually offer?+

Across 272 published Emaar payment plans the median structure is 10% on booking, 70% during construction and 20% on handover, so 80% before keys. 11% of plans include post-handover instalments.

When are Emaar's off-plan projects handing over?+

Scheduled handovers by year: 2020: 6, 2021: 2, 2022: 9, 2023: 25, 2024: 15, 2025: 27, 2026: 35, 2027: 28, 2028: 66, 2029: 82, 2030: 34, 2031: 2. Dates are as published by the developer and can move.

How much does a Emaar off-plan unit cost?+

1 BR: median AED 1,660,888 for 778 sqft; 2 BR: median AED 2,843,169 for 1,261 sqft; 3 BR: median AED 3,970,000 for 1,914 sqft; 4 BR: median AED 4,700,000 for 3,668 sqft; 5 BR: median AED 10,666,944 for 7,770 sqft; 6+ BR: median AED 24,400,000 for 12,958 sqft.

The notes behind the numbers on this page

Read next

Dubai Off-Plan Q3 2026

The full report: every community, every developer, ranked.

Emaar in context: price per sqft by community and developer, payment plan structures ranked by cash due before handover, the 2026 to 2029 delivery pipeline, and the CSV behind every table. PDF plus data, delivered instantly.

Source: OffplanIndex derived analytics, built 2026-09-02 from developer-published project facts and unit inventories aggregated from public portals (latest observation 2026-07-30). All statistics are computed by OffplanIndex; no third-party database is reproduced. See the methodology and data policy. Not investment advice.