The Residences at Marina Gate 2 is a 64-storey residential building, part of the Marina Gate complex. It is located in the city center, in the prestigious Dubai Marina district. The developer of the project was Select Group. Construction was completed in May 2019.
Marina Gate 2 is connected to the other towers of the complex by a podium, which contains retail and entertainment outlets, and a fitness center.
The building features 533 residential units ready for occupancy: 1, 2, and 3-bedroom apartments, as well as penthouses with pool and terrace access.
There are panoramic views of Dubai Marina, Marina Walks and the Persian Gulf.
For a comfortable lifestyle there is 24 hour security and video surveillance, air conditioning, underground parking for residents and guests for 500 cars, modern high-speed elevators, an equipped gym, a swimming pool with temperature control and a sauna, a spa-center, and a supermarket all within the complex.
A special feature of the project is the convenient location in the bay next to the marina, next to the waterfront.
The residential project combines the latest construction technologies and the latest global design trends.
The size of the residential premises starts from 68.3 sq. m (735 sq. ft). The price of a one bedroom apartment starts at AED 1,788,189 (USD 486,827).
King Salman Bin Abdulaziz Al Saud Street is just 4 minutes away from the development.
Dubai International Airport is a 28-minute drive away.
Dubai Mall is a 20-minute drive away. It offers stores, restaurants and cafes, a cinema and a playground for children.
Downtown Dubai and Palm Jumeirah can be reached in 11-15 minutes by private or public transport.
The nearest schools and development centers are Emirates International School Meadows, iCademy Middle East, Regent International Private School, American School of Dubai image, and the American School of Dubai.
Nearby medical centers include MBF Health Square, Health Avenue Polyclinic, Armada Medical Centre, and Thrive Wellbeing Centre.
The annual rent for a one-bedroom apartment at The Residences at Marina Gate 2 is AED 110,000 (USD 29,947). The net achievable income from renting these apartments is AED 98,000 (USD 26,680) per year.
This amount is calculated including management fees – AED 4,500 (USD 1,225) and mandatory VAT – AED 5,250 (USD 1,430).
Therefore the potential return on investment is 5.61%.
The Residences at Marina Gate 2 will increase in value in the market, thanks to its central location in Dubai Marina, the view of the bay and the high level of comfort that they offer.
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