Palm Tower 1
About Palm Tower 1
(sq. ft.)
Palm Tower 1 is a 56-storey residential complex located in Al Khan, Sharjah. The tower was commissioned in 2009.
Properties include one- to three-bedroom apartments and four-bedroom duplexes that are available to buy and rent. Units have spacious bedrooms, fully fitted kitchens, large lounges, and guest bathrooms. Bedrooms feature built-in wardrobes and ensuite bathrooms with all of the necessary sanitary facilities.
The complex provides a variety of amenities and services, including:
- Underground parking
- High-speed lifts
- 24-hour video surveillance
- Maintenance services
- Event space
- Gym
- Sauna
- Whirlpool
- Jogging tracks
- Children’s playground
- Landscaped gardens
- Uninterrupted Internet access
- Spacious lobby with a reception area
- 24-hour concierge services
Residential units range in size from 766 sq. ft. to 2,550 sq. ft. and range in price from AED 450,000 (USD 123,000) to AED 1,375,000 (USD 374,000).
*The price is valid for 2021
Property Information
- Location Al Khan, Sharjah, UAE
- Status of Project Completed
- Type of Project Residential Building
- Units 1-3BR Apartments, 4BR Duplexes
- Area from 766 sq. ft.
Location
The nearest bus stop, Al Taawun, is located within a 15-minute walk of the apartments. Dubai International Airport and Sharjah International Airport can be reached within a 30-minute drive.
The complex is situated near many social, commercial, and leisure facilities, including:
- Al Arab Mall
- Masaya Supermarket, Fajer Al Khan Supermarket, and Al Ahli Supermarket
- Nesto Hypermarket and Abraj Hypermarket
- Road House Restaurant, Safartas Restaurant & Deli, and Rukin Al Meshwar Restaurant
- Victoria International School
- Westford University College
- London American City College
- Al Bait Al Sagheer Nursery
- Mazaya Medical Centre and Russia Medical Centre
- LIFE Pharmacy and Al Taqweem Pharmacy
The tower is located within a five- to 10-minute drive of several popular destinations, including the following attractions.
- Al Qasba is a well-known tourist attraction with restaurants, children’s playgrounds, boat tours, and a Ferris wheel.
- The Sharjah Aquarium is a huge oceanarium that lets visitors explore different species of marine life.
Payback
Al Khan is a coastal area with many residential skyscrapers. It is situated near the emirate of Dubai, which is one of its many advantages. The district has freehold status, which allows locals and foreigners the chance to purchase and retain properties.
Residential units in Al Khan have a return on investment rate that ranges from 3.3% to 5.8%. Annual rental rates for properties at Palm Tower 1 range from AED 38,000 (USD 10,000) to AED 65,000 (USD 18,000). If current trends continue, investments can be recouped within 14 to 17 years.
*The price is valid for 2021
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