Dubai: First freehold residential, commercial project launched on Sheikh Zayed Road
The landmark project, AA Tower, is a 60-story high-rise set to rise on a plot of 10,000 sqft. It will feature 369 residential units — comprising 195 one-bedroom, 198 two-bedroom, and 3 three-bedroom apartments — alongside 26 office spaces and 5 retail outlets.
This launch follows an announcement by the Dubai Land Department (DLD) on January 19, which declared that 457 plots along Sheikh Zayed Road and in the Al Jaddaf area are now eligible for freehold ownership. Specifically, this includes 128 plots stretching from the World Trade Centre Roundabout to the Water Canal, 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. Meanwhhile, 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.
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