Viceroy Dubai Palm Jumeirah
Viceroy Dubai Jumeirah Village is a modern four-star hotel complex from SKAI Holdings, located in the heart of Jumeirah Village. The project was developed by WS Atkins & Partners. Standard hotel apartments, studios, and apartments with one or two bedrooms are on sale at AED 1200 (or USD 326) per sq. ft. The construction of the project began in 2015 and ended in 2019.
The construction of a four-star hotel is a way forward in the case of Dubai. 64% of the local hotel industry is made up of luxury five-star hotels, while the remaining 36% is made up of high- and middle-class hotels. For example, in cities such as Singapore, Hong Kong, and London, this ratio is diametrically opposite. Thus, there are 35% of five-star hotels and 65% of three- and four-star hotels.
Viceroy Dubai is a spiral tower, where each room is built on the roof of the previous one. All apartments have a small terrace with a garden and a swimming pool. The tower consists of 60 floors, its height is 275.8 m above sea level. The total area of the gardens reaches 490 000 sq. ft, and the pools cover almost 88 000 sq. ft.
Large-scale panoramic windows in the rooms offer a picturesque view of the city landscape. Moreover, through the construction of the building, the maximum amount of sunlight penetrates the apartments. It allows you both to create a cozy atmosphere and reduce the cost of lighting.
The developer paid special attention not only to the construction of the building but also to its internal arrangement. Viceroy Dubai Jumeirah Village interior design has been awarded with Nao Taniyama & Associates Award.
The hotel also includes:
conference rooms
ballrooms
business centre
public areas
children’s playgrounds
private access to the Viceroy Dubai Palm Jumeirah beach
swimming pool
sauna and steam bath
state-of-the-art fitness centre and gym with yoga terrace
branded spa salon
children’s club
As for the restaurant service, it is represented by:
- restaurants;
- bistro;
- pool bar;
- sports bar;
- lobby cafe;
- spa bar;
- a specialty restaurant and a nightclub.
Prices
Viceroy Dubai offers hotel apartments with 1 to 4 bedrooms with a total area from 506 to 5630 sq. ft. The rates start from AED 721 000 (or USD 197 000).
*The price is valid for 2021
Location
Viceroy Dubai is located in the heart of Jumeirah Village, at the intersection between Hessa Road, Al Hail Road, and Sheikh Mohammed bin Zayed Road. The Dubai Mall is situated in a 22-minute drive, Palm Jumeirah in a 17-minute drive. Viceroy Dubai is located in a 19-minute drive from Burj Al Arab and a 21-minute drive from The Walk at JBR.
Dubai International Airport can be reached in a 28-minute drive, while Al Maktoum International Airport is located in a 35-minute drive.
Returns on Investment
To understand the profitability of investment in Viceroy Dubai Jumeirah Village, we will calculate the return on investment ratio for two-bedroom apartments. On average, the rental price for this type of housing is AED 147 500 (or USD 40 160) per year. The purchase of such apartments will cost AED 3 046 400 (or USD 830 000). After the transaction, one will also need to pay a registration fee (AED 4000) and a 2% fee to Dubai Land Department (AED 60 928).
Thus, the ROI in Viceroy Dubai = (147,500/3,111,328)*100=4.74%
The calculations do not include the maintenance costs and estate agency services.
Despite the current unstable conditions and reduced tourist activity, 4.74% is a high rate of return. According to the developer's forecasts, after stabilization of the real estate market and the epidemiological situation in the world, ROI in Viceroy Dubai Jumeirah Village is expected to be 12% per annum.
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