Palace Residences
About the complex
Located in the newly developed area of Dubai Creek Harbour, Palace Residences is a residential complex under construction in the form of two extravagant modern buildings Palace Residences Building 1 and Palace Residences Building 2. The developer of the project is Emaar Properties, the largest and most famous construction company in the Arab world. Two 44-floor skyscrapers of the complex are connected to the elegant Palace Hotel boutique hotel.
Palace Residences features a collection of 587 exclusive residences – one, two, three and four bedroom apartments with direct access to the adjacent Palace Hotel. Residents of the complex can use the services of the 5-star hotel, its signature bar and services throughout the day. The panoramic windows of the apartments overlook the canal and Dubai Creek beach. The design of the apartments is sustained in a modern style, in the interior used warm light colors.
Residents of Palace Residences will enjoy the modern services and facilities of the complex:
- equipped fitness room;
- outdoor pool;
- the beach is within walking distance;
- recreation areas and landscaped areas;
- 24/7 concierge;
- secure parking;
- central air conditioning system;
- views of Dubai Creek Tower and Dubai Creek Canal;
- stores, cafes and restaurants.
All residences have a comfortable layout, are sold fully furnished and equipped with a bathroom and kitchen. Palace Residences offers apartments starting from 65 square meters (705 square feet) with prices starting from AED 1,050,000 (approximately USD 286,000).
*The price is valid for 2020
Location
The Palace Residences skyscrapers are located in the modern Dubai Creek Harbour area and will include residential, retail, commercial and leisure facilities. Within walking distance are the waterfront, green areas for recreation, yacht club, restaurants and cafes.
Residents can reach the Dubai Mall in 17 minutes by car, the Palm Jumeirah in 27 minutes and the famous Burj Al Arab in 26 minutes. Shopping and entertainment promenade The Walk JBR is just 30 minutes away, and the international airports DXB and Al Maktum are 20 and 48 minutes away respectively.
Payback
The commercial appeal of Dubai Creek Harbour is expected to grow by the time the complex is completed, which contributes to an increased return on investment. Projects from the large-scale developer Emaar Properties have a high return on investment and attract foreign buyers. At Palace Residences, the average price of a one-bedroom apartment is about 1,200,000 AED ($327,000). Since the complex is still under construction, to calculate the estimated profitability one should look at the average annual rent of residential premises with an identical size in the same Dubai Creek area – AED 60,000 (USD 16,300). Thus, the estimated return on investment is 4.35%.
*The price is valid for 2020
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Metropolitan Premium Properties
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[email protected]
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+971 4 428 6151
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36th-38th Floor, Al Salam Tecom Tower,
Internet City, Dubai, UAE
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