Park Gate Residences

Park Gate Residences is a luxury residential development in the Wasl1 community by Wasl Asset Management Group. Located in the Al Kifaf area, the project is adjacent to one of Dubai’s largest parks; Zabeel Park, where the famous Dubai Frame is located. The complex comprises 4 residential skyscrapers all connected by common podiums.

Interested real estate buyers have the opportunity to select a property from a range of 1-3-bedroom apartments ranging from 990 sq. ft, as well as 4-bedroom penthouses and 3-5 bedroom podium townhouses. All residences boast spacious terraces and large floor-to-ceiling windows which overlook the luscious Zabeel Park. Not forgetting the stylish interiors which use natural wood, brushed stainless steel and marble in the design and finishes of each unit. With a wide variety of layouts as well as numerous amenities, this apartment complex is ideal for both families with children and single individuals.

Due to its central location and plenty of leafy areas, Park Gate Residences offers a unique lifestyle – a combination of the busy metropolis, with its intense work pace, infrastructure and entertainment, but also an ultimate suburban serenity. There is also a metro station within walking distance of the development, ensuring easy access to Dubai’s business districts, popular entertainment venues and its endless list of attractions.

The initial cost for a 1-bedroom apartment in Park Gate Residences is AED 1,700,000 (USD 463,000).

This development is located in a freehold area and is therefore available for foreigners to purchase with full ownership. This enables residence owners to resell and lease the property as they wish, also making it an excellent commercial investment. That being said, the starting rental price for a 1-bedroom apartment in Park Gate Residences is AED 70,000 (USD 19,000) per annum. Moreover, prospective property buyers can benefit from a 50% DLD Waiver, as part of a promotion offer.

When investing in a property at an initial cost of AED 750,000 (USD 205,000), there is an excellent opportunity to obtain a 3-year investor visa. Launched by the DLD, this initiative is called the Taskeen Programme, and allows holders to renew a visa multiple times, as well as bringing a spouse and their children to the UAE. It is worth noting that the property must be 100% completed and if it is mortgaged, then 50% of its value must be paid to the bank at the time of application.

Currently, real estate in Park Gate Residences can be purchased on exclusive terms – in installments with a convenient payment plan. To find out more about available offers, the payment scheme and other conditions for acquiring a property, please send us an enquiry. Our Manager at Metropolitan Premium Properties will contact you shortly and answer any questions you may have.

Since Park Gate Residences was successfully completed in Q4 2020, all properties are ready to move in. Therefore, you can either buy the property for yourself and move in at any time, or use it as an investment opportunity and start generating rental income immediately. To maximise your income without having to analyse the market and search for tenants, our property management service is a perfect tool to help generate income. The experienced agents at Metropolitan Premium Properties will take care of everything, from setting the best rental rate and finding a reliable tenant, to preparing all the paperwork and making sure payments are received on time, so you can sit back and relax.