Dubai: First freehold residential, commercial project launched on Sheikh Zayed Road

The launch of the first freehold residential and commercial development on Sheikh Zayed Road marks a new era in Dubai’s real estate history. 

Constructed on a 10,000 square foot lot, AA Tower represents a landmark project that encompasses the first freehold residential and commercial units on Sheikh Zayed Road. The tower will feature 369 residential units, including 195 one-bedroom apartments, 198 two-bedroom apartments, and 3 three-bedroom apartments, in addition to 26 office spaces and 5 retail units. It is a 60-story high-rise.

The Dubai Land Department (DLD) announced on January 19 that they would start selling 457 plots on Sheikh Zayed Road and in Al Jaddaf as freehold properties. This includes 128 plots from the World Trade Centre Roundabout to the Water Canal and 329 plots in Al Jaddaf.

Dubai’s international image as a city that offers unique real estate investment opportunities within the freehold system will be bolstered by these projects, according to CEO of Harbor Real Estate and exclusive sales agent of the project, Mohanad Alwadiya, who stated that “the market is waiting for a powerful launch because this project establishes a new standard.”

Harbor Real Estate stated that Sheikh Zayed Road’s freehold residential and commercial units belong to the Ahmed Mostafa Ahli Investment Group.

Because of the added landmarks like the DIFC, the World Trade Center, the Burj Khalifa, and the Dubai Mall, Sheikh Zayd Road is among the first places that come to mind when one considers buying or renting commercial and residential property. Old and new Dubai's commercial and residential areas are well interconnected, which is an added bonus.  

Buyers may combine two-bedroom and one-bedroom units according to their own specifications if they wish to do so.  

The price range of Dubal’s AA Tower residential apartments is within the 2.932 million Dh to 5.4 million Dh range, which is approximately 3544 to 4578 Dh per square foot. Rentable office units charge somewhere between 2.232 million Dh and 7 million Dh. Commercial storefronts are the most expensive with a starting price of 12.136 million Dh and 25 million Dh as the cap.  

As for now, residential units can be secured by an initial payment of 28% and 12 quarterly payments of 6%.  

This is your chance to own an asset in Dubai, the most stunning city of the world. The initial project designed for commercial and residential use located on Sheikh Zayed Road is now readily available for investment. By subscribing to Just Dubai, you can stay updated with the latest news.