Peninsula Two is the second phase of the Peninsula development which was launched in Q3 2021 by Select Group. The master developer, with a GDV of AED 17B (USD 4.6B), is particularly known for its wide range of homes built in the Dubai Marina area. Spanning across 358,000 sq.ft, the brand new 36-storey tower in Business Bay is set to provide a total of 439 residential units, including compact studios and spacious 1 & 2-bedroom apartments. Meanwhile, the living area of residences ranges from 339 sq.ft to 968 sq.ft. The Peninsula Two development is due for completion in Q4 2024.
Virtually all apartments will include a balcony of 62 sq.ft -83 sq.ft. offering a beautiful view of the Dubai Water Canal. Moreover, properties at Peninsula Two will boast upscale finishes, such as gypsum board ceilings, textured HPL wardrobes and cupboards, marble thresholds and porcelain tile flooring. At the same time, kitchens plan to be equipped with stainless steel sinks, quartz surface countertops, a backsplash and a connection point for a washing machine. There will also be high-end appliances, including an exactor fan, a gas oven, a fridge/freezer and 2 or 4 gas hobs (depending on the property type) installed in the kitchen. Prospective buyers will be keen to learn that carefully crafted bathrooms will boast a porcelain-tiled wet zone area and ceilings, chrome-plated sanitary fittings, stone washbasins, and tastefully located mirrors. As well as all the above, each apartment will be provided with 1 designated parking space in the basement.
Homeowners will enjoy an extensive range of facilities in Peninsula Two. These include:
In addition, Peninsula Two will be connected to the Community Mall, a 66,000 sq.ft. retail center, which is set to include 23 individual units. Designed to accommodate the needs of homeowners, the mall will provide residents access to beauty salons, supermarkets, pharmacies, F&B outlets and cafes, as well as healthcare amenities. Peninsula Promenade is another focal point of the community, serving as the main entertainment hub. Among other facilities, it will house an events venue, a concert space, an art park, an outdoor cinema and pop-up jet fountains, offering plenty of family-friendly activities.
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Since Peninsula Two is adjacent to the Dubai Water Canal, Al Khail Road and the Sheikh Road, the location ensures easy access to both terrestrial and marine transport links, as well as giving a hassle-free commute by private vehicle. In terms of bus stations, there are The Binary Tower and Clover Bay Tower 1, just to name a few, that can be reached within a 10-minute walk of the development. Meanwhile, metro and marine stations can be found about half an hour away, including Business Bay Metro Station, Burj Khalifa/Dubai Mall Metro Station, Al Wajeha Al Mayeah Station and Marasi Marine Transport Station.
Within 15-20 minutes, residents will be able to reach supermarkets, medical facilities, banks and educational establishments. In case of healthcare emergencies, there are institutions, such as EK Clinic SZC, Emirates Hospital Clinic, The Physio Center and more, which can provide a wide range of general and specialized medical services.
To stock up on groceries, residents will be able to visit ZOOM, W Mart Supermarket and Talabat, among other stores for their daily or weekly food shop. Moreover, families residing in the Peninsula Two Tower can enroll their children in a number of prestigious academic establishments located nearby. These include, but are not limited to the Horizon English School, Al Safa High School, Japanese School Dubai and the Learning Tree Nursery.
As well as all the above, homeowners at Peninsula Two will benefit from numerous attractions, upscale hotels and fine eateries. For the ultimate dining experience, there is the Jabbour Restaurant Business Bay, The Larder, Story Lounge and Restaurant, Wingsters and Hako Sushi which can be found in the immediate vicinity of the complex. Additionally hotels such as the Radisson Blu Hotel, Dubai Waterfront, DAMAC Maison Court Jardin and ME Dubai situated just next door. The latter hotel, in particular, features the city’s first Technogym Biocircuit, 5 high-end F&B venues and a spa center inside. Finally, some of the most popular attractions of the Emirate can be reached within a radius of fifteen minutes from Peninsula Two. Among these are the Dubai Opera, Dubai Fountains, The Dubai Mall and the Burj Khalifa, which offer numerous leisure options and various activities for adults and children of any age.
Located in a freehold area, Peninsula Two is most certainly a highly attractive investment opportunity. In fact, Peninsula One sold out within only 1 month after its release, which proves its popularity with buyers. One of the appealing aspects of this development is, of course, its strategic location. Interested buyers will be glad to know that some of the most sought-after areas, including DIFC, Downtown Dubai and Dubai International Airport, are only around 15 minutes’ away from the development. Furthermore, when purchasing a property in the upcoming tower, you will be provided with a 4% DLD Waiver Fee.
As well as this, the estimated rental income from a 1-bedroom apartment in Peninsula Two amounts to AED 57,257 (USD 15,600), according to Select Group. At the same time, Business Bay, has an ROI of 5.39% and has been one of the most in-demand areas in 2021 for buying luxury apartments, as reported by Bayut & Dubizzle. As Business Bay is set to become the main financial hub of the city, together with Dubai Downtown, it will attract even more business individuals, entrepreneurs and traders, as well as local and international companies to the area. Thus, residences within the area, such as Peninsula Two, will witness a surge in demand regarding both sale and rentals.
Not forgetting the Taskeen Programme, which was launched by the DLD, which provides the opportunity of applying for a 3-year visa through investment. The minimum required amount to apply for this type of visa is AED 750,000 (USD 205,000) and this visa includes a spouse sponsorship. This means that once Peninsula Two is completed, you will be able to become a UAE resident and also bring your children and a spouse to the UAE.
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