Details

Country

United Arab Emirates

Type

EquityBuy To Let

Sector

Real Estate

End date

22 January 2024
(-58 days)

Total yield

52.63%

Annual yield

10.53%

Duration/Maturity

60 months

investors

15

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“We’re thrilled to introduce this unique opportunity in Business Bay’s vibrant Bay Square complex, a mixed-use project by Dubai Properties. Located in Bay Square 3, this unit, initially a spacious studio, is set to be converted into a one-bedroom apartment. This strategy is rooted in the fact that the average size of new studios and one-bedrooms in Dubai has now dipped below 400 sqft and below 600 sqft, respectively. This shift presents an exciting opportunity to reimagine and repurpose units in older, yet quality, developments to uncover some untapped value. In fact, we previously acquired a different studio in Bay Square, which is currently being rented out for AED 85K per year, generating healthy returns for its investors. However, this current studio boasts a distinct layout that is ideal for conversion to a one-bedroom. Post-conversion, it will become a 691 sqft one-bedroom, hence making it one of the larger 1 bedrooms in the area – a standout feature that adds significant appeal. Bay Square offers first-class services and amenities, including an outdoor swimming pool, children’s play area, gym, sauna and steam room, lush gardens, 24-hour security services, and high-speed elevators. Moreover, the building is surrounded by supermarkets, schools, and restaurants. Major tourist attractions are also a short drive away, a mere 7-9 minutes driving distance to Dubai Opera and Burj Khalifa. Standing tall amidst a skyline adorned with colossal skyscrapers right in the heart of Dubai, Business Bay might not boast the glitz and glamour of some of its flashier counterparts, but it certainly knows how to make its presence known. The neighborhood’s urban landscape is enriched by scenic canal views, an array of top-tier restaurants, and access to world-class shopping centers, including the Dubai Mall. What was once primarily recognized for its more corporate allure has now evolved into a thriving mixed-use community, rivaling the likes of NYC’s Manhattan.”

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• Source: https://www.findcrowdfunding.com/en/view/smartcrowd/695