Wasl 1 Residences

Situated in the vibrant mixed-use area of Wasl 1, 1 Residences by wasl Asset Management Group is a stunning residential freehold master development, located right next to Za’abeel Park, which offers a total of 753 units. The new development consists of two 43-storey towers, which are connected at the podium and top levels. Prospective real estate buyers can choose from an array of beautifully crafted ready to move-in apartments in 1-3 bedroom configurations, as well as four 3-bedroom duplexes. This development was launched in Q3 2019.

The sizes of 1 Residences apartments range from 888 sq. ft to 1,956 sq. ft and their spacious layouts boast balconies of 68 sq. ft to 253 sq. ft, which overlook the Zabeel Park, which is one of the largest parks in Dubai. Among the key features of properties in this development are a SMATV system, an access control system, telephone/data points, a CCTV system, a gate barrier and an intercom. At the same time, the interiors of 1 Residences apartments are complemented by elegant wood, brushed stainless steel highlights, and marble finishes for a more distinctive look.

The initial cost for a 1-bedroom apartment in 1 Residences is AED 1,322,000 (USD 360,000).

Another attractive option for property acquisition in this area is Park Gate Residences, which boasts a range of apartments, penthouses and townhouses with full access to rooftop lawns, a fitness club, grocery stores and more.

As mentioned earlier, 1 Residences is part of Wasl1 in the Al Kifaf area. That being said, its strategic location next to the Sheikh Zayed Road enables homeowners to easily move around the rest of Dubai. Those opting to commute via public transport will be keen to learn that there is the Al Jafilia Metro Station, Al Jafilia Bus Station 2 and Department of Health 2 accessible less than 10 minutes’ walk away.

1 Residences were successfully completed in Q2 2022, and as a result, once having acquired a property here, you will be able to move in at once, or rent a residence out to generate a passive income. According to Property Finder, in the Al Kifaf area, the ROI for 1-bedroom apartments has reached 6.1%, while the starting rental price amounts to AED 80K (USD 22K) per annum. As a Landlord, you are welcome to use our property management service, which will allow you to sit back and relax, while our specialists will handle all the landlord responsibilities on your behalf.

When investing in a ready property worth at least AED 750K (USD 205K), you become eligible for a 3-year investor visa via the Taskeen Programme. If a property is mortgaged, then 50% of its value has to be paid to the bank at the time of application. There is also a new visa law which will come into effect in September 2022, enabling those who invest AED 2M (USD 545K) in off-plan/secondary real estate to benefit from a Golden Visa residency. Its holders are provided with the right to live, work and study in the UAE without an Emirati sponsorship.