Property investors around the world will always talk of “location, location, location”. But in Dubai you can add “elevation, elevation, elevation” in to the mix.
And I don’t mean the sky high price of this Dh19 million three-bedroom penthouse in Downtown Dubai.
Such is the ubiquity of tall buildings and the love of apartment living in the UAE that a serious premium is paid for the height one resides at. How much of a premium is not an easy equation to analyse, as height does not always mean expensive; the location, finishing and aspect all come into play.
This property has an A1 location – it is Downtown Dubai, attached to The Dubai Mall; the finishing is also A1, being part of Emaar’s The Address Dubai Mall hotel; the elevation is impressive as the apartment sits on the 44th floor.
However, with the world’s tallest building next door, it may have an inferiority complex.
The aspect is the only sub-A grade, and that is a purely subjective opinion. If you live next door to Burj Khalifa it’s a pity you can’t see it.
The 4,147 square feet penthouse comes fully furnished. It is currently rented. It has the luxury of high ceilings, a fully equipped open kitchen with fridge, dishwasher, electric cooker and washing machine ready to go.
More importantly, with the pad part of the hotel complex, there is the option to buy-in the five star lifestyle. Rates can include Wi-Fi, cable TV and Dewa charge, two covered parking spaces available with access to the pool and gym. Housekeeping is not included but can be provided à la carte and paid on a pro-rata basis.
The Downtown area has become one of the most desirable in the Middle East, with millions of tourists flocking to see Burj Khalifa, the Dubai Fountain and the world’s biggest shopping mall.
The Old Town features traditional Arabian architecture in a low-rise community with Burj Khalifa dominating the skyline.
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