Set to change the landscape of Business Bay, Peninsula Five The Signature Collection is the third phase of the major Peninsula development by Select Group. Launched in Q1 2022, the 37-storey (G+36) tower brings a carefully crafted selection of 1-4 bedroom waterfront duplexes, besides stylish studios and 1-3 bedroom apartments. The living area of the properties ranges from 513 sq. ft to 4,730 sq. ft and there are a total of 381 units available for sale.
All apartments in the 37-storey tower will boast balconies with a 180-degree sea view, as well as 9 ft high ceilings both in the living rooms and bedrooms, providing an abundance of light and space. Not forgetting upscale finishes inspired by Jumeirah Living Marina Gate, which is a luxury residential development by Select Group in Dubai Marina. At the same time, duplexes will feature terraces and/or balconies, as well as a maid’s room with an attached bathroom, which is not available in regular apartments. Owners of duplexes will be able to benefit from bespoke concierge services for their utmost convenience. As well as all the above, kitchens in the Peninsula Five residences plan to be equipped with premium appliances, including a hob, an oven, a fridge/freezer and an extractor fan. Of course, the connection points for a washing machine will be available too.
Security is key in Peninsula Five, as there will be a CCTV monitoring system, a fire alarm panel and a main intercom station within the development. Furthermore, there will be 454 designated parking spaces and all units will have mechanically ventilated basement parking access. Following the rising trend for sustainability and eco-friendliness, homeowners will have EV chargers at their full disposal. Other amenities in Peninsula Five are as follows:
In addition to this, the master plan of the Peninsula development includes an extensive range of world-class facilities for wellness, recreation and leisure experiences for its residents. These include:
The focal point of this highly anticipated project is the Peninsula Promenade, which will provide a selection of entertaining activities throughout the entire year. Children and adults alike will absolutely love the concert space, the outdoor cinema, an events venue, as well as pop up jet fountains.
In Peninsula Five, a 1-bedroom apartment is priced at AED 1,220,000 (USD 333,000). You can also check out DAMAC Zada Tower, a stone’s throw away, which offers only 1-bedroom residences for a minimum of AED 650,000 (USD 180,000).
*The price is valid for 2022
Thanks to the strategic location of Peninsula Five next to the Dubai Water Canal and the intersection of Marasi Dr, Al Khaleej Al Tejari 1 St and Al A’mal St, potential residents can be sure their commute will be hassle-free. For instance, it will take a maximum of 20 minutes’ to reach some of the most sought after destinations of the emirate, such as Dubai Marina and Dubai International Airport, among others. Moreover, in the immediate vicinity of Peninsula Five, there is a range of bus stations available, which include, but are not limited to Clover Bay Station 1 and The Binary Tower. Not forgetting Business Bay Marine Transport Station and Business Bay Metro Station, both of which are easily accessible within a 20 minute walk.
As well as all the above, within the same time frame, it will be possible to reach various essential facilities, including medical and educational institutions, banks and supermarkets. These are as follows:
Peninsula Five will also be surrounded by numerous fine dining venues, such as The Larder, Story Lounge and Restaurant, Hako Sushi and Jabbour Restaurant Business Bay. Prospective real estate buyers will be keen to learn a few of the most iconic attractions of Dubai can be reached within a maximum of a 30-minute walk, including The Dubai Mall, the Burj Khalifa, The Dubai Fountain and Dubai Opera.
Due for completion in Q4 2024, Peninsula Five is set to become highly popular with UAE-based and overseas investors and end users. In fact, both of the previous phases; Peninsula One and Peninsula Two, were quick to sell out within just 1 month after the launch. Real estate buyers are attracted not only by its convenient location but also by the fact that this is the first community-focused master planned waterfront development in Business Bay. In fact, besides the above-mentioned amenities, homeowners will be granted full access to the Community Mall with a total area of 66,000 sq. ft. There will also be supermarkets, pharmacies, medical facilities, beauty salons, boutiques and famous F&B brands, which just adds to the wide specter of benefits of living in Peninsula.
It is worth mentioning that the property prices will keep rising in Peninsula with the upcoming phases, as 1-bedroom apartments in Peninsula One were initially priced at AED 925,000 (USD 252,000). Therefore, if you are planning to purchase a residence in Peninsula Five and subsequently resell it, you can generate a decent profit, and with the estimated annual rental income of AED 57,000 (USD 15,500) for a 1-bedroom apartment in Peninsula, this is definitely a lucrative option for a long-term investment. It is worth mentioning that Select Group offers a 4% DLD waiver fee, amidst a competitive scene of the Dubai real estate market. At the same time, maintenance fees amount to AED 14-18 (USD 3.81-4.9) per sq. ft, with a reserve fund of AED 2-3 (USD 0.54-0.82) per sq. ft.
Furthermore, real estate buyers of Peninsula Five will be eligible for a 3-year investor visa as soon as the development is completed. The initial required amount is set at AED 750,000 (USD 205,000) and this visa can be renewed multiple times. Obtaining this type of visa will significantly facilitate your life in the UAE, since you will be able to apply for an Emirates ID and subsequently open a bank account and obtain a UAE driving license. Most importantly, you will be able to benefit from family sponsorship and bring your children and spouse to the UAE as well.
Peninsula is the second development by Select Group in Business Bay, while 15 Northside was its debut in the in-demand commercial area. Due for completion in Q3 2022, this tower is 95% sold out, as of Q1 2022. The development offers studios and 1-4 bedroom apartments at an initial cost of AED 930,000 (USD 255,000).
*The price is valid for 2022
After choosing a property corresponding to your needs, you should follow several initial steps, which include signing an agreement of terms and conditions, a reservation agreement, a reservation deposit and a sales and purchase agreement. Our Metropolitan Premium Properties brokers are ready to help you prepare all the documents and lead you through till the end of the transaction.
Yes, with the help of our Metropolitan Premium Properties brokers, you will be provided a video tour, and in the case that you make your choice, our professionals will help you purchase a property without the need to visit the UAE.
Becoming an owner of a residence with a cost from AED 750,000 (USD 204,000) provides you with an opportunity to apply for a 2-year visa, while a 10-year Golden Visa is given to those who spend from AED 2,000,000 (USD 545,000) on residential properties. Visas are renewable in the case that you remain the owner of the property.
The anticipated completion date of Peninsula Five The Signature Collection is Q4 2024.
Peninsula Five The Signature Collection is one of the latest additions to the highly sought-after Peninsula masterplan, located in the heart of Business Bay.
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