Jumeirah Lake Towers

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Jumeirah Lake Towers (JLT) is a massive development of 80 towers, situated at the backdrop of three scenic man-made lakes and a number of waterways. Once complete, it will cover a total of 730,000 sq. metres.

Location

The area's location on the Sheikh Zayed Road opposed the Dubai Marina couldn’t be any better. Residents and company owners in JLT have a free access to the major attractions of new Dubai – the Marina JBR, Mall of the Emirates etc., while still being only 20 minutes away from Downtown Dubai. JLT is also situated in close proximity to some of the emirate’s most popular golf courses, including the Emirates Golf Course and the Montgomerie.

Facilities

JLT is a mixed-use commodity with 45 per cent of towers planned for residential use, 21 per cent of buildings planned to be used as offices, and the remaining real estate to host hotels or other mixed-use projects. 

At the heart of JLT, on its own ‘island’ between two lakes stands the area’s main dominant — a 66-storey Almas Tower (Arabic 'Al Mas’ for 'the Diamond') housing Dubai Multi Commodities Centre (DMCC) head office, as well as Dubai Diamond Exchange. The basement of the tower houses the main diamond vault. And Jumeirah Lake Towers itself is basically an integral part of a large DMCC free zone.

In terms of community development JLT has its own dedicated supermarkets, a range of eateries, spas and a wide range of other retail businesses spread across the various towers. The Bonnington Hotel, for one, has become a popular nightspot. It also includes 6 healthcare facilities, namely 4 medical centers, a diagnostic clinic, plus a hospital. Education in the area is presented by two international Universities offering Bachelor, Masters and MBA programs.

Real Estate

Affordable rents and a waterfront promenade with a host of restaurant options have made JLT a popular destination for working couples and singletons. Residential developments in JLT offer a wide range of various accommodation options, from studios to two-level penthouses, to suit all tastes, and at a very attractive price. 

The demand for office spaces in the area is also quite substantial. The average offices floor area here ranges between 860 and 10,700 square feet, while office rents are significantly lower than in other city business locations.

Retail spaces are also available in the ground floors and podium levels of the towers intended to house shops, restaurants, hair salons and other small to mid-sized businesses. These are usually brand new, light-filled high-quality facilities with all necessary utilities in place. The average psf cost of ready-to-move-in retail units is much higher, but lease opportunities guarantee higher rental yields and the best ROI.

No. of bedrooms Average price, AED Average rent per year, AED Average service charges, AED Approximate annual net rental income
Total Per ft2 Total Per ft2 Total Per ft2 AED %
Jumeirah Lake Towers
Studio (430 ft2) 630,000- 850,000 1,470- 1,980 55,000- 75,000 130- 170 6,420 15 48,580- 68,580 8-9
1BR (750 ft2) 850,000- 1,300,000 1,130- 1,730 70,000- 100,000 90- 130 12,720 17 57,280- 87,280 6-8
2BR (1240 ft2) 1,150,000- 2,000,000 930- 1,610 90,000- 130,000 70- 100 18,090 15 71,910- 111,910 6-8
SOLD
910,081
Ref.No: imex-676298
1BR Apt
770 ft2
1,182 AED/ft2
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Lease process (Rent out)

1 hour

Contract of the lessee and agency.

Required documents:

  • copy of the passport
  • copy of the certificate of ownership

1 day

Ad placement:

  • 20 real estate portals;
  • client base of the agency;
  • profile exhibitions, etc.

Up to 2 days

Signing of the lease agreement

Expenses of the seller:

None

Additional services:

Property management

Lease process (Rent)

1 hour

Contract of the lessee and agency.

Up to 5 days

Real estate search.

Selection of optimal options.

Up to 2 days

Signing of the lease agreement

Expenses of the lessee:

-5% agency commission of the annual contract price

Additional services:

None

Purchase process

1 hour

Contract of the tenant and agency.

~ 2 weeks secondary

~ 3 weeks new building

Property Selection

Selection of optimal options

1 Week

Registration of the contract of purchase / sale

Customer charges:

  • 2% from purchase at transaction
  • 4% - registration of the transaction at registration

Additional services:

Property management

Sales Process

1 hour

Contract of the lessee and agency.

Required documents:

  • copy of the passport
  • copy of the certificate of ownership

1 day

Ad placement:

  • 20 real estate portals;
  • client base of the agency;
  • profile exhibitions, etc.

Up to 2 days

Signing of the lease agreement

Expenses of the seller:

None

Additional services:

None

the management process

1 hour

Contract of the owner and agency

1 year

Rendering of management services

1 day

Reporting

Expenses of the owner:

5% of the annual rental price

Additional services:

None

Investment Process

1 hour

Contract of the tenant and agency.

From 3 days

Selection of optimal investment options

1 Week

Registration of the contract of purchase / sale

Expenses of the investor:

  • 2% when investing in the secondary market
  • 0% when investing in a new building
  • 4% - registration

Additional services:

Property management