Peninsula 3

Located in the thriving area of Business Bay, Peninsula Three is the fourth phase of the Peninsula mega-development which was presented in Q1 2022 by Select Group. The newly launched project comes in the form of a 49-storey tower, with a total of 849 units, including chic studios, as well as apartments with 1 and 2-bedroom layouts. Living areas of the properties in Peninsula Three range between 410 sq. ft and 1,061 sq. ft and residents will be able to enjoy the views of the famous Dubai skyline, Dubai Canal and the Burj Khalifa from the comfort of their own balconies.

In terms of interior design, the living and dining spaces will feature porcelain elements and floors, and light coloured painted walls throughout, for a modern look. At the same time, the kitchens in Peninsula Three apartments will be skillfully crafted with the use of quartz countertops and laminated shutters, according to the master plan. Furthermore, homeowners will be able to benefit from a fridge/freezer, a sink, a gas oven, as well as a dishwasher and a washing machine/drier which will already be installed. Not forgetting the height of ceilings and windows set at 9 ft, providing an abundance of space and natural light into the residences.

The initial cost for a 1-bedroom apartment in Peninsula Three is set at AED 1,142,000 (USD 728,000).

Peninsula Three is scheduled for completion in 2025 and it is expected to attract multiple overseas and local property buyers. In fact, the first 2 phases of Peninsula called Peninsula One and Peninsula Two sold out within a month after their launch dates, illustrating the ongoing demand for this particular development. And it’s not surprising due to the fact that Peninsula is the first community-focused master planned waterfront development in Business Bay, with plenty of verdant spaces and people-oriented amenities. For instance, homeowners of Peninsula Three will have access to the Community Mall of 66,000 sq. ft, which will feature pharmacies, healthcare facilities, supermarkets and award-winning F&B brands.

It is also worth mentioning the limited-time offer from Select Group, which is a 100% DLD Waiver, as part of the promotion campaign of Peninsula Three. With each upcoming phase, the capital value of properties in Peninsula continues to increase, for instance, the starting price for 1-bedroom apartments was set at AED 925,000 (USD 252,000) in Peninsula One. Taking into account the fact that a similar property in Peninsula Three costs AED 1,142,000 (USD 728,000), we can see that the capital value of residences in Peninsula rose by about 17%, as of Q1 2022. That being said, if you are considering acquiring a property for a subsequent resale, Peninsula Three is a highly lucrative option.

As Business Bay, alongside Downtown Dubai, plans to become a thriving financial hub, following the Dubai Urban Master Plan 2040, this area is set to witness an influx of entrepreneurs, business professionals and company employees. This surge will create a spike in demand for properties both for sale and to rent in developments such as Peninsula Three. The starting annual rental price for a 1-bedroom apartment in similar developments in Business Bay is AED 60,000 (USD 16,300), whereas the average ROI here has reached 5.4%, as of Q1 2022.

Another perk of purchasing a property in Peninsula Three is that you will automatically become eligible for an investor visa, as soon as the development is completed. This visa is valid for 3 years and requires a property investment worth a minimum of AED 750,000 (USD 205,000). Not only will it significantly facilitate you living in the UAE owing to the fact that you will be able to obtain an Emirates ID and UAE driving licence, but it will also enable you to bring your spouse and children to the UAE as well.