Latest news with #freehold
Khaleej Times
25-05-2025
- Business
- Khaleej Times
Dubai: First freehold residential, commercial project launched on Sheikh Zayed Road
A significant milestone in Dubai's real estate landscape has been reached with the launch of the first freehold residential and commercial development 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.
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.
Bloomberg
07-05-2025
- Business
- Bloomberg
Freehold Versus Leasehold in UK Real Estate
Subscribe to Merryn Talks Money on Apple Podcasts Subscribe to Merryn Talks Money on Spotify In this episode of the Merryn Talks Money UK housing mini-series, hosts Merryn Somerset Webb and Money Distilled author John Stepek delve into the complexities of freehold and leasehold properties with guest Anthony Emmerson, who has worked in the mortgage industry for 20 years and is currently director at Trinity Financial.
Bloomberg
06-05-2025
- Business
- Bloomberg
Merryn Talks Money: Freehold Versus Leasehold in UK Real Estate
In this episode of the Merryn Talks Money UK housing mini-series, hosts Merryn Somerset Webb and Money Distilled author John Stepek delve into the complexities of freehold and leasehold properties with guest Anthony Emmerson, who has worked in the mortgage industry for 20 years and is currently director at Trinity Financial.
