The first freehold residential and commercial project on Sheikh Zayed Road has been launched.

The 60-story Dubai AA Tower will be built on a 10,000-square-foot plot and comprises 369 residential units, including 195 one-bedroom apartments, 198 two-bedroom apartments, and 3 three-bedroom apartments. It also features 26 office units and 5 retail stores.

On January 19, the Dubai Land Department announced private property ownership in Sheikh Zayed Road from the World Trade Centre Roundabout to the Water Canal and Al Jaddaf area. A total of 457 plots are eligible for conversion to freehold: 128 plots along Sheikh Zayed Road and 329 plots in Al Jaddaf.

“The market is looking forward to a strong launch, as this project sets a new benchmark and reinforces Dubai’s global reputation for delivering exceptional and distinctive investment opportunities under the freehold system,” said Mohanad Alwadiya, CEO of Harbor Real Estate, the exclusive sales agent of the project.

Harbor Real Estate said Ahmed Mostafa Ahli Investment Group has launched the first freehold residential and commercial units on Sheikh Zayed Road.

Sheikh Zayed Road is one of the most sought-after locations for residential and commercial properties of its prime location and major landmarks in the vicinity such as Dubai International Financial Centre (DIFC), Burj Khalifa, Dubai Mall, and Dubai World Trade Centre among others. It also provides easy connectivity between Old and New Dubai.

Owners will also have the option to merge one-bedroom and two-bedroom units to suit their preferences.

Prices for residential apartments in AA Tower range from Dh2.932 million to Dh5.4 million  – an average of approximately Dh3,544 to Dh4,578 per sqft. Office spaces are priced between Dh2.232 million and Dh7 million. Retail stores start at Dh12.136 million and go up to Dh25 million.

For residential units, the payment plan begins with a 28 per cent down payment, followed by 12 quarterly payments of 6 per cent.

For More Info Visit: FajarRealty

Source: Khaleej Times

29th May 2025