EAST40

Launched back in 2018, EAST40 is a residential high-rise development by TownX Real Estate Development in the thriving area of Al Furjan. The 12-storey building features an array of chic 1 and 2-bedroom apartments, with 112 units in total. The living areas of the properties range from 670 sq. ft to 1,142 sq. ft, and each apartment comes furnished and includes a range of designer amenities. That being said, homeowners will be able to benefit from high-end fully-fitted kitchens with Zanussi appliances, Italian wardrobes by Giessegi, sanitary ware by Vitra, as well as a control system by Schneider Electric. Overall, there are 6 apartment types: A, B, C, D, E and F, in the upscale development, and each one has a balcony or a terrace overlooking the luscious greenery within the area.

The starting price for a 1-bedroom apartment in EAST40 amounts to AED 742,000 (USD 202,000).

EAST40 was successfully completed in 2019, therefore, as soon as you purchase an apartment you can move in, or use it for a subsequent rental to generate income. It is worth noting that Al Furjan is a freehold area, which means that both UAE citizens and expats have the opportunity to benefit from 100% property ownership. There is also no time limit on owning the property, which adds to the perks of owning an apartment in EAST40. According to Property Finder, 1-bedroom apartments in the area of Al Furjan generate a gross ROI of 7% as of Q2 2022. At the same time, the starting rental price for a 1-bedroom residence in Al Furjan amounts to AED 30,000 (USD 8,200) per annum.

The area of Jebel Ali, where Al Furjan is located, is known for having the biggest port in the region and is the ninth busiest port in the world. Moreover, it has its own free zone called JAFZA, which contributes to 23% of Dubai’s GDP. Over 7,000 companies are headquartered in Jebel Ali, and as a result, it is safe to say that properties in EAST40 will be in high demand among those who opt to live within the vicinity of their workplace.

The area of Jebel Ali witnessed the launch of Jebel Ali Village in 2021, the first phase of which almost immediately sold out after the announcement. This is one of the oldest and most prestigious areas in Dubai, and according to Nakheel Properties, it will be fully redeveloped as a prime villa/townhouse community.