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ROMYRTLE residential project in Dubai
The eight-story residential project MYRTLE is being erected by the developer Meraas. The building will have 187 one and two-bedroom apartments. Real estate in the neighbourhood of City Walk, Dubai, where MYRTLE is located, is extremely popular among tenants. The construction of the project is being implemented as part of the development of the residential community of Central Park, which occupies the central part of City Walk. The new project offers high-end infrastructure. Thanks to its prestigious central location, proximity to business districts, beaches and popular tourist attractions, property in Dubai in this community has great investment potential.
Property in City Walk, Dubai, UAE
One of the most interesting neighbourhoods in Dubai, City Walk occupies 0.9 square kilometres in the centre of the famous district of Jumeirah.
The offices of many IT companies are located here. Residential properties are in the middle and premium segments. The entire neighbourhood is being developed and built up by Meraas according to a common plan. Experts estimate the minimum ROI for properties in City Walk to be 5.6% per annum if housing is used for long-term leases. You can buy an apartment in Dubai in City Walk for AED 700,000 ($190,603). The rental rates start from AED 42,000 ($11,436) per annum and realtors note that the offer of rent in the budget segment itself is limited. The weighted average rental rates for apartments in the neighbourhood are estimated to be AED 167,000 ($45,472) per year, with an average apartment cost of AED 3.35 million ($912,171).
Property for sale in MYRTLE
The new residential project has seven residential floors. The first floor is occupied by a commercial block with boutiques, restaurants and a grocery store. The buildings in the project all have the following characteristics:
- A total of 187 apartments, including 99 one-bedroom units and 88 two-bedroom units. Each apartment will have a dressing room as well as a balcony or terrace.
- The living space of apartments ranges from 63 to 172 m2.
- Eight layout options.
- The minimum cost is AED 1.246 million ($339,273). This is the price for a one-bedroom apartment of 63 m2.
- The price of other apartments in MYRTLE is available on request.
The size of the terraces can be more than 50 m2. Such large terraces are available in three two-bedroom apartments located on the first residential floor. One-bedroom apartments of 67 m2 with large balconies (10 m2) are also located on the first residential floor. In addition, the first floor houses the only one-bedroom apartments in the project, with a total area of 98 m2 and terrace of 28 m2.
You can buy property in MYRTLE directly from the developer, who offers a convenient payment plan with instalments:
- Fifty percent is paid when signing the contract. By agreement with the developer, it is possible to split this payment into parts;
- • Fifty percent is to be paid after the project handover.
The developer guarantees that all apartments will be ready to move in when the keys are handed over to the buyer. Premium housing in Dubai is traditionally handed over to the buyer with all necessary equipment. While the property is under development, buyers can discuss the furnishing of the apartments and changes to the basic interior design solutions with the developer. The handover of the project is scheduled for July 2025.
