Luxhabitat's Joey Elaty home in on an urban metropolis for hard-working high-fliers
Words by Joey Elaty in Neighbourhoods · Oct. 20th, 2014
Popular with investors, DIFC is predominantly home to expats on short-term rentals, rather than owner-occupiers, says Luxhabitat's Sales Specialist Joey Elaty.
There are eight key residential towers in DIFC: Sky Gardens, Burj Daman, DAMAC Properties' Park Towers, Liberty House, Central Park, Mezza House, Index Tower and Limestone House. The latter two are outstanding properties, with Index Tower commanding a premium price because of the amazing cityscape views it affords residents.
The four-bedroom duplex penthouse in Index Tower is the most impressive apartment you can buy in DIFC. It affords 360-degree views of Burj Khalifa, Sheikh Zayed Road and the sea, and boasts a very high-end finish. "Most of the penthouses have been upgraded, and due to a lack of larger-sized units in the area of DIFC and Downtown, the prices for such units start at AED35 million for penthouses," adds Elaty.
"In Limestone House, two- and three-bedroom apartments are more commonly on the market, for between AED12 million to AED15 million. It has great facilities, too, such as a top-class swimming pool and gym and a brilliant location. Furthermore, the lifestyle is amazing. Great restaurants surround the heart of DIFC, and it's close to The Dubai Mall, art galleries, Sheikh Zayed Road, and lots of prestigious hotels and businesses."
It is commonly thought that Burj Khalifa is Downtown's most sought-after residence but this is not the case, says Joey Elaty. "People prefer to have a stunning view of the iconic building, rather than be inside looking out."
So, which is the most desirable property in Downtown? "The Address Downtown," states Elaty. "Thanks to its views of the Burj Khalifa, its location next to The Dubai Mall, and a long list of excellent amenities and restaurants nearby.
"The Burj also has 900 unfurnished units over 160 floors, while The Address Downtown has just 60 residential floors. Therefore two-bedroom apartments in The Address Downtown have a higher price tag than those in Burj Khalifa, ranging from AED11 million to AED15 million. What's more, the prices have jumped by as much as 40 per cent since last year," adds Elaty.