Latest news with #AA_TOWER
Zawya
25-05-2025
- Business
- Zawya
For the first time in Dubai's real estate history: Launch of AA TOWER – The first freehold project on Sheikh Zayed Road
Dr. Mohanad Alwadiya: The project is a game-changer in Dubai's real estate market Dubai, United Arab Emirates – In an unprecedented move that reflects the evolution of Dubai's real estate sector and the growing investment opportunities in the city center, Ahmed Mostafa Ahli Investment Group has announced the launch of sales for the first fully freehold residential and commercial units on Sheikh Zayed Road. These units are part of the group's flagship development, AA TOWER, which is one of the latest and most prominent mixed-use towers in the area. The project will be officially unveiled at an exclusive launch event organized by the group in collaboration with Harbor Real Estate, the exclusive sales agent, on Tuesday, May 27, at the V Hotel in Al Habtoor City. The event will be attended by leading investors and real estate professionals from across the region. AA TOWER marks a milestone as the first mixed-use project to be included in the fully freehold market. This follows a recent decision by the Dubai government allowing private property owners on Sheikh Zayed Road to convert their properties into freehold ownership accessible to all nationalities. The move has significantly enhanced Dubai's appeal on the global investment stage, both for institutions and individual investors. Commenting on the project, Dr. Mohanad Alwadiya, CEO of Harbor Real Estate, said: 'AA TOWER is a game-changer in Dubai's real estate market. Its strategic location on Sheikh Zayed Road—one of the most iconic and important avenues in the city—creates wide-ranging opportunities for investors from within and outside the UAE. 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.' The 60-story AA TOWER is 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, 5 retail stores, and 447 parking spaces. Floors 1 to 51 each include only eight apartments, ensuring privacy and exclusivity. Floors 52 and 53 offer larger two-bedroom apartments ranging between 1,700 and 2,100 square feet. Owners will also have the option to merge one-bedroom and two-bedroom units to suit their preferences. Strategically located on Sheikh Zayed Road, AA TOWER boasts direct views of Burj Khalifa, Downtown Dubai, and Jumeirah Beach. The tower is also close to iconic destinations such as City Walk, Dubai International Financial Centre (DIFC), Museum of the Future, World Trade Centre, Mohammed Bin Rashid Boulevard, and The Dubai Mall. It offers convenient access to major highways, public transportation, and Dubai Metro. The location is surrounded by top-tier restaurants, cafes, international schools, and hospitals. AA TOWER also includes a full range of luxurious amenities, including a signature swimming pool, a modern gym, an indoor cinema, a multi-purpose event hall, a prayer room, and a barbecue area. Apartments are available with both open and closed kitchen layouts and are finished with high-end materials from premium brands. What sets AA TOWER apart is its flexible post-handover payment plan, a rare offering among ready-to-move-in properties in such prime locations. For residential units, the payment plan begins with a 28% down payment, followed by 4% registration fees to the Dubai Land Department, AED 3,000 in administrative fees, and 12 quarterly payments of 6%. For commercial spaces, the payment plan includes a 40% down payment, 4% DLD registration fee, 5% VAT, AED 3,000 in administrative fees, and 12 quarterly instalments of 5%. Prices for residential apartments in AA TOWER range from AED 2.932 million to AED 5.4 million (approx. AED 3,544 to AED 4,578 per sq. ft.). Office spaces are priced between AED 2.232 million and AED 7 million (approx. AED 5,205 to AED 5,375 per sq. ft.). Retail stores start at AED 12.136 million and go up to AED 25 million (approx. AED 7,829 per sq. ft.). About Harbor Real Estate Harbor Real Estate is a leading real estate services company based in Dubai and is part of a global group of real estate companies founded in Australia in 1972. Harbor's services include research and investment advisory, marketing, sales and leasing services, property management, project management, and development supervision. Harbor Real Estate serves a vast client base of major developers, institutional investors, and individual buyers. The company is proud to offer a team of award-winning consultants, with deep expertise and insight into local and international markets. Harbor is committed to providing effective real estate solutions tailored to the needs of its clients. Harbor Real Estate has earned the Golden Rating from the Dubai Land Department for seven consecutive years and has been ranked among the top five real estate companies by Forbes. Harbor has also been recognized as the Best Property Management Company in the UAE by Property Times
Arabian Business
25-05-2025
- Business
- Arabian Business
Dubai real estate: AA TOWER launches sales of freehold apartments, offices
Ahmed Mostafa Ahli Investment Group has started sales for AA TOWER, a new 60-storey mixed-use development on Sheikh Zayed Road, offering the first fully freehold residential and commercial units in the area. The launch follows recent policy changes allowing freehold ownership on one of Dubai's busiest and most prominent corridors. The development will be unveiled at a launch event on Tuesday, May 27, at the V Hotel in Al Habtoor City, the company said in a statement, adding that the event is being organised in collaboration with Harbor Real Estate, the exclusive sales agent. It will host investors and real estate professionals from across the region. New freehold project AA TOWER opens sales in Dubai AA TOWER is the first mixed-use project on Sheikh Zayed Road to be included in the fully freehold market. The launch follows a decision by the Dubai government that allows private property owners on Sheikh Zayed Road to convert their holdings into freehold ownership. This change enables ownership access to all nationalities. 'AA TOWER is a game-changer in Dubai's real estate market. Its strategic location on Sheikh Zayed Road—one of the most iconic and important avenues in the city—creates wide-ranging opportunities for investors from within and outside the UAE. 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,' Dr Mohanad Alwadiya, CEO of Harbor Real Estate said. Located on a 10,000 square foot plot, the 60-storey AA TOWER includes 369 residential units. These consist of 195 one-bedroom apartments, 198 two-bedroom apartments, and 3 three-bedroom apartments. The tower also contains 26 office units, 5 retail stores, and 447 parking spaces. Floors 1 to 51 each hold eight apartments. Floors 52 and 53 include larger two-bedroom units ranging from 1,700 to 2,100 square feet. Owners will have the option to merge one-bedroom and two-bedroom apartments. The project is located on Sheikh Zayed Road with views of Burj Khalifa, Downtown Dubai, and Jumeirah Beach. It is in proximity to destinations such as City Walk, Dubai International Financial Centre (DIFC), Museum of the Future, World Trade Centre, Mohammed Bin Rashid Boulevard, and The Dubai Mall. The site offers access to highways, public transportation, and Dubai Metro. Nearby facilities include restaurants, cafes, international schools, and hospitals. AA TOWER provides facilities such as a swimming pool, gym, indoor cinema, multi-purpose event hall, prayer room, and barbecue area. Apartments are available with open and closed kitchen layouts and feature materials from known brands. The project also offers a post-handover payment plan. For residential units, this includes a 28 per cent down payment, 4 per cent registration fee to Dubai Land Department (DLD), AED 3,000 in administrative fees, and 12 quarterly payments of 6 per cent. Commercial units require a 40 per cent down payment, a 4 per cent DLD registration fee, 5 per cent VAT, AED3,000 in administrative fees, and 12 quarterly instalments of 5 per cent. Residential apartment prices range from AED2.932 million to AED5.4 million, equivalent to approximately AED3,544 to AED4,578 per square foot. Office spaces are priced between AED2.232 million and AED7 million, or AED5,205 to AED5,375 per square foot.
