Dubai Production City (IMPZ) is a free economic zone founded in 2003. The project was the first community in Dubai with the mission of developing a new type of manufacturing. The community covers an area of 4,000,000 sq. m (43,000,000 sq. ft) and includes industrial areas, retail stores, and residential complexes.
Initially, the development attracted businesses in the print and media production sector. Over time, Dubai Production City (IMPZ) welcomed commercial entities from other industries. Now, professionals from all over the world live and work in the area.
Approximately 50% of the area is under development by TECOM Group. In addition to the media zone, Dubai Production City (IMPZ) offers several attractions, such as the Me’aisem shopping centre. Residents also have easy access to grocery stores, including Carrefour and Swiss Mart, and there are several local beauty salons, fitness centres, and ATMs.
Dubai Production City (IMPZ) is located on the outskirts of Dubai. Residents can take advantage of Sheikh Mohammed Bin Zayed Road, which connects the area to other parts of the city. Neighbouring communities include Jumeirah Village and Dubai Sports City.
Dubai Production City (IMPZ) offers a variety of hotels, including Ghaya Grand and Occidental, which are located near the main highways. The area has many bus routes, and the nearest Metro station is Mall of the Emirates, which is located within a 20-minute drive of the free economic zone.
Dubai Production City (IMPZ) has a kindergarten called Kids Kingdom. Residents can access additional education institutes in neighbouring areas within a 10-minute drive via Sheikh Mohammed Bin Zayed Road. Dubai’s Knowledge Park offers several universities and can be reached within a 20-minute drive. Residents also have convenient access to the City Centre Clinic, which provides a wide range of medical services.
The free economic zone offers plenty of green spaces, and there are artificial lakes within walking distance of the residences. Residents can also enjoy nearby entertainment venues, restaurants, and cafés, such as Paul and Italian Broccoli Pizza and Pasta. Magic Planet offers family-friendly entertainment with video games and activity space.
Dubai Production City (IMPZ) has several real estate investment opportunities, and the area is experiencing a high level of property development. There are vacant areas that are available for the construction of commercial real estate, warehouses, and residential complexes. Real estate is in high demand among professionals looking to buy and rent a property. They take advantage of living near their place of employment.
Dubai Production City (IMPZ) offers many types of residences, including complexes with studios and apartments with one- to three-bedroom floor plans.
The average rental cost for a studio with a size of 52 sq. m (560 sq. ft) is AED 21,000 (USD 5,717), per year, and the average rental cost for a two-bedroom apartment is AED 45,000 (USD 12,251), per year. The starting price for a studio with a size of 34 sq. m (369 sq. ft) is AED 230,000 (USD 62,618).
The area offers affordable accommodations, which attracts potential buyers. Given the low cost of living, investment returns happen quicker compared to other developed parts of Dubai. The return on investment rate for a studio is 7.4%, and the return rate for a two-bedroom apartment is 6.2%.
Dubai Production City (IMPZ) offers several popular residential projects, including the following complexes.
Lakeside Tower is a complex of four 22-storey buildings. Studios and one-bedroom apartments are available for sale and rent. Amenities include a gym, tennis court, swimming pool, and sauna. The area offers an eco-friendly environment, and buildings are surrounded by gardens, walking paths, and recreation areas. Properties range in size from 34 sq. m. (365 sq. ft) to 75 sq. m (811 sq. ft). The minimum rental price is AED 21,000 (USD 5,717), and purchase prices start at AED 250,000 (USD 68,063).
Midtown is a complex of buildings with floors ranging from six to 16. Units include studios and apartments with one- to three-bedroom layouts ranging in size from 39 sq. m (425 sq. ft) to 186 sq. m (2,010 sq. ft). Buildings are characterised by their beautiful views of the surrounding area, and the complex has a swimming pool, wellness centre, and children’s playground. The average price for a one-bedroom apartment is AED 525,000 (USD 142,932).
Lago Vista is a complex of three buildings. The central tower has 24 floors, and the other two have 21 floors. There are a total of 900 apartments and studios, and amenities include a restaurant, tennis court, gym, café, and children’s play area. The average rental cost for a one-bedroom apartment is AED 37,000 (USD 10,073), per year, and the cost of similar properties is AED 550,000 (USD 149,739).
Dubai Production City (IMPZ) offers a unique setting given it is a free economic zone. Residences can be purchased through unconditional ownership. The area features several popular attractions, including:
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