Marina Promenade
Overview of The Marina Promenade
The Marina Promenade is an apartment complex by Zeidler Partnership Architects in Dubai Marina. It consists of six towers:
- Beauport Tower;
- Paloma Tower;
- Attessa Tower;
- Aurora Tower;
- Shemara Tower;
- Delphine.
Construction began in 2005. The properties were commissioned in 2008. The buildings are an exact copy of a residential complex in the city center, which was built by Emaar. Only the facades are different. The towers have different numbers of floors, which varies from 23 to 39. The buildings are connected by a landscaped podium leading to the marina.
Each tower has apartments with one, two or three rooms. The windows of the apartments overlook the Dubai Marina.
Aurora Tower offers two-bedroom apartments of 130 sq.m for AED 2,200,000 (USD 600,000). Three-bedroom apartments of 170 to 200 sq. m average AED 3,500,000 (USD 1,000,000). One-bedroom apartments cost about AED 1,500,000 (USD 410,000).
*The price is valid for 2020
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Location The Marina Promenade
The Marina Promenade is located on the small island of Dubai Marina. The main attraction of the area is the beach, which is considered the best in the city. From the residential complex you can walk to it in a few minutes. Near the buildings there are streetcar and bus stops and two metro stations.
The promenade is equipped with a walking zone, there are various retail outlets and supermarkets. There is a kindergarten, a pharmacy, and beauty salons. Within walking distance is a hospital and medical center. In the nearby area there are schools.
People who enjoy adrenalin, can fly on one of the longest ziplines in the world and there are beaches for water sports.
Payback
Dubai Marina is one of the most popular areas for investment in Dubai. Here is a large variety of luxury real estate, which can always be rented or resold.
Studio and one-bedroom apartments are the most lucrative types of real estate. Annual revenue from them is 6.2-6.5%. Apartments in The Marina Promenade residential complex with 2-3 bedrooms will bring a profit of up to 5.7% a year.
Apartment prices in Dubai Marina rose 2.43% last month to AED 1,221 (USD 330) per sq. m. The average monthly rent for apartments has also grown by 2.23% (AED 88,584 or USD 25,000). The payback percentage is 5.63% on average for all properties in the area.
It can be predicted that due to the construction of new residential complexes and infrastructure, the investment appeal of the area will only grow, and this will increase the average rate of return.
*The price is valid for 2020
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