Property of the week: Dh500,000-a-year Dubai apartment

The sleek residence located in the heart of DIFC boasts panoramic skyline views

There is no doubt that the UAE is home to some spectacular properties. From penthouse apartments to plush villas with sprawling gardens and incredible pools, it’s a real estate haven.

Each week, The National showcases some of the finest homes on offer in its Property of the Week. Here, we look at a rental property in the heart of DIFC.

The key details

This two-bedroom, three-bathroom apartment is spread across 3,500 square feet, located in the popular Index Tower in DIFC.

It has been fully upgraded throughout and offers panoramic views of the Dubai skyline.

What's the story?

This expansive apartment is new to the Dubai rental market for Dh500,000 per year.

With sleek finishings throughout, it boasts two double bedrooms, as well as an extra single bedroom and a maid's room.

The kitchen has been finished with high-end appliances and modern counters, with a window and breakfast bar that looks out to the towering skyscrapers of DIFC.

The open-plan living room and dining room offer ample space for relaxing and entertaining. The black and red colour scheme is used throughout the living area, which features a snooker table in the shape of a life-sized vintage car model in the bar area.

The generously sized bedrooms offer walk-in wardrobes and dressing room facilities, as well as an office space, perfect for anyone working remotely.

The expansive bathroom boasts high-spec marble finishes, and an inviting large bathtub, that looks out over the glittering Dubai skyline.

The property is currently on the rental market, but there is an opportunity for this property to be sold furnished, according to the agents.

What the brokers say ...

What makes the property stand out?

The standard of finish throughout the property is second to none. The property has been completed with delicate attention to detail adding an air of luxury.

Do properties personalised to this level come onto the market often?

The quality of this property is a rarity to the market. Properties that are finished to such a high standard are more often than not occupied by the owner as a home. These properties are sold only when the owner is ready to move on.

Has the recent surge in prices affected the price of this property?

No, this property is priced to reflect the quality and finish and has not been necessarily affected by the surge in prices we have seen over the past months.

How has the coronavirus pandemic affected UAE property prices?

The way Dubai has handled Covid-19 is like no other. The pandemic has put Dubai on the map more than ever and it’s allowed people to travel here when a lot of countries are still heavily restricted. It has instilled further confidence in Dubai and its safety, as well as the incredible lifestyle, the business opportunities and the added positive of tax-free earnings.

As a result, the number of property buyers in Dubai has increased whereas the number of properties hitting the market for sale was slightly decreased in the beginning months of 2021. This created an undersupply in many areas which had an effect on the prices in certain areas of the city.

Why is DIFC so popular with prospective buyers or renters?

DIFC, Dubai's financial district, is appealing because of its different jurisdiction, as well as the prestigious restaurants, bars and, of course, the grade A offices. Buyers who are looking for sophistication and a closeness to work and transport links to other popular areas in the city are attracted to DIFC.

- Charlie King, associate director, Allsopp & Allsopp

Updated: August 12th 2021, 11:32 AM