There is a new development in Business Bay that is offering huge investment potential to buyers. Named Kempinski Residences, the project offers 800 apartments ready for investment. The prices of units here start from below AED 1 million and go as high as AED 11.5 million for penthouses. The project is being marketed by Tamleek Real Estate and believing in development’s huge potential, Tamleek CEO Brian Etemad has acquired a full floor in Kempinski Residences.
The project making waves in the market is currently being developed by the real estate arm of Saudi Arabia’s Al Rajhi Holding Group, Gemstone. The real estate company marketing the units has also opened show apartments for people interested in getting a look and feel of the property in Regal Tower located in Business Bay.
Dubai Water Canal is doing wonders for Business Bay and developers with projects here are focussing on luxury and high-end lifestyle. A similar case is being seen in Kempinski Residences and Tamleek’s marketing executives are referring to the studio apartments here as suites.
Per reports, the area of studio apartments here span 650 square feet and the apartments go all the way up to five bedroom penthouses. The project is scheduled for delivery in 2019.
As for the price appreciation, Tamleek CEO forecasts that at the time of delivery, prices of apartments at Kempinski Residences are bound to increase to AED 6,000 per square foot. Flaunting its investment credentials, Etemad said that Kempinski Residences would offer at least 9% return on investment. Also, the owners will be given the opportunity of handing over their unit to a rental pool to be operated and managed by Tamleek and Kempinski. Interestingly, this would come at no extra charges.
If it’s the views you are looking for, the developer claims that approximately 90 percent of the units here would feature unobstructed views of the Burj Khalifa. All these units would come fully furnished and the tower would include three restaurants, a coffee shop, five swimming pools and a quality gym along with services such as valet parking.