Requirement : Buyer for the property
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Synopsis:
14-storey residential development tower located in Dubai Sports City, a growing and well-connected community. The building is currently 50% complete, allowing an investor to take over the project and complete it. The property spans 160,000 square feet in Gross Floor Area (GFA) and 300,000 square feet in Built-Up Area (BUA), totaling 238 residential units. The building’s structure is designed to maximize space and appeal to families and young professionals, offering a balanced mix of apartment sizes in a sought-after neighborhood.
Investment:
The seller is offering the property at two price points:
- AED 90 million for the building as is, in its 50% completed state.
- AED 175 million if the building is completed, offering an opportunity for either a short-term or long-term investment, depending on the buyer’s goals.
Ownership:
Ownership details can be customized based on buyer preferences, but the project likely follows freehold guidelines, making it attractive for both local and international investors. Freehold status allows full property ownership rights, a key feature for foreign buyers.
Timeline:
With 50% of the work completed, the property provides a relatively quick turnaround for investors who want to finish the development and begin generating revenue from sales or rentals. The building can be completed within a standard construction timeline for projects of this scale.
Revenue Projection:
The 238 units within the building offer significant revenue potential. The units could be sold individually or rented out upon completion, depending on market conditions and the investor’s strategy. Rental yields in Dubai Sports City are steady, with demand for housing driven by the area’s location, amenities, and accessibility. A completed building could generate substantial rental income or be positioned for profitable sales.
Conclusion:
The Tower presents a valuable investment opportunity for developers looking to take over a partially built project in a growing residential area. With the flexibility to either complete the project and generate rental income or sell units, the property provides a range of options for potential buyers. The combination of its prime location, large unit count, and competitive pricing makes it an attractive deal for anyone looking to enter or expand their presence in Dubai’s real estate market.
