Park Avenue
Apartments
By Azizi
829,000 AED
Starting Price
140
Total Units
Dubai
Location
Park Avenue is a five-storey residential complex that is currently under construction in Mohammed Bin Rashid City, Dubai. Construction of the residences started in August 2020. The project was developed by Azizi Developments, and the architectural design was implemented by 360 Degrees Architectural Design Consultancy. The main construction work is being carried out by Al Zahraa Foundation Contractors LLC.
The complex has a total of 140 properties that are available for sale, including one- to two-bedroom apartments. Properties have living areas, built-in wardrobes, balconies, and bedrooms with ensuite bathrooms.
About Park Avenue
The master developer offers a convenient 70/30 payment plan, which includes a 20% booking fee. During construction and upon estimated completion in Q1 2028, you must pay 50% and 30%, respectively.
As of Q1 2024, the gross yield for 1-bedroom units in Business Bay averages at 6.4%. The starting price for rent is AED 53K (USD 14K) per annum. As you can see, you can receive a stable cash flow if you lease your property in Altitude de GRISOGONO.
According to DAMAC Properties, off-plan apartments in Business Bay recorded 73% capital value appreciation from Q1 2021 to Q4 2023. The surge was driven by the growing influx of tourists and expat workers. This means that you can profitably resell your property in this complex, even while it is still under construction.
Property owners in Altitude de GRISOGONO become eligible for either a 2- or 10-year visa, depending on the purchase price. Both of these visas include family sponsorship, while the 10-year Golden visa additionally covers domestic staff.
Park Avenue is located in one of the greenest parts of the emirate. It is situated on Meydan Avenue in the heart of Mohammed Bin Rashid City. Residents have easy access to Downtown Dubai, as well as many local parks and attractions. Park Avenue is also popular due to its proximity to several golf clubs, a tennis academy, and a racecourse.
As a result, properties in the area are in steady demand among tenants and investors. Park Avenue offers units that are expected to have a return on investment rate of 6%, depending on the type of accommodation. The estimated payback period on investments ranges from 17 to 20 years.
Payment Plan
|
Developer
|
Area from
|
Townhouses
|
Total Amount of Units
|
Payment Plan
|
|---|---|---|---|---|
|
DAMAC
|
2,297 sq. ft.
|
4-5BR
|
1900
|
70/30
|
Amenities & Features
Here are the amenities and features of Burj Azizi:
- Tennis courts
- 24-hour security
- Cycle and jogging paths
- Spa
- Central air-conditioning
- Sauna
- Sports fields
The complex provides a variety of amenities and services, including:
- Covered parking
- Children’s play area
- Swimming pool
- Rooftop terrace
- Nearby park and river
- Recreational facilities
- Gym
- Concierge services
Nearby Facilities
The area does not offer direct links to public transportation. Therefore, residents are advised to travel by personal vehicle and taxi. Dubai International Airport can be reached within a 20-minute drive of the residences, and Al Maktoum International Airport is located within a 40-minute drive.
Residents can enjoy several nearby social and leisure facilities, including:
- Supermarket Fair Mart
- Meydan One Mall
- Qube Shisha Lounge, Iris Meydan, and the Stables Dubai
- North London Collegiate School Dubai and Hartland International School
- Zabeel Health Centre Hospital
- The Track Golf Club
- Friday Cricket Ground IPL
- Meydan Racecourse
- Hartland Greens Park
- Ras Al Khor Wildlife Sanctuary
- Jumeirah Beach
There are many popular attractions situated within a five- to 20-minute drive of the complex, including:
- Meydan Bridge, a unique wave-shaped bridge with bright lights and scenic views of Dubai
- Burj Al Arab, a unique hotel that is shaped like a sail
- Dubai Creek Tower, one of the city’s highest observation decks
