ID D1209
Peninsula Two is the second phase of the Peninsula project, which was launched in Q3 2021 by the Select Group.
Peninsula Two is a 36-storey tower with an area of 33,259 square meters and is located in the business and tourist district of Dubai – Business Bay. According to the master plan of the developer, the complex will have 439 residential units, including compact studios and spacious apartments with 1 and 2 bedrooms. The living area of the property will vary from 31 to 90 square meters. The completion of all construction work is scheduled for Q4 2024.
As for the Peninsula Two apartments, almost all units will have a balcony of 5.7 and 7.7 sq.m., with views of the Dubai Water Canal. In addition, the apartments are distinguished by high-end finishes, including drywall ceilings, built-in wardrobes made of textured HPL (paper-layered plastic) and floors made of porcelain porcelain with a marble addition. It is planned that the kitchen will be equipped with stainless steel sinks, countertops with a quartz surface, a place to connect a washing machine. In addition, all kitchens will be equipped with high-quality appliances, including hood, gas oven, stove for 2 or 4 burners (depending on the type of property), refrigerator / freezer. In turn, the bathrooms will be lined with granite porcelain areas and ceilings, chrome plumbing, mirrors and washbasins made of natural stone. Also for owners of any type of apartment there is 1 parking space per 1 unit of real estate.
Peninsula Two offers its residents a wide range of services and facilities, including access to:
park areas for walking;
uniquely designed skate park;
ultra-modern gym;
an open pool with an area of 205 square meters;
pedestrian, cycling and treadmills;
playgrounds for squash, tennis and basketball.
In addition, the complex will have a lobby with an audio intercom and dining areas, a multifunctional hall for meetings, negotiations and private events, parking with bicycle rental. Video surveillance and fire alarm systems will also be installed throughout the perimeter, as well as an A/C cooling system.
In addition to the above, the Peninsula Two complex will be connected to the Community Mall, an area of 6,131 square meters, where in addition to retail space there will be 23 individual units. Community Mall will allow residents access to essential services including beauty salons, supermarkets, pharmacies, F&B stores, cafes and restaurants, and medical care. In turn, Peninsula Promenade acts as a central point of the community for events of different nature, offering a lot of entertainment for the whole family. This includes a concert venue, an art park, an outdoor cinema and jet fountains.
Location.
Due to the fact that Peninsula Two is adjacent to the Dubai Water Canal, it has a unique location in the Business Bay area, providing easy access not only to the Al Khail Road and Sheikh Road highway, but also to sea transport, which makes it easy to reach anywhere in the emirate. In addition, the Binary Tower and Clover Bay Tower 1 bus stops are only a 10-minute walk away, and the Business Bay, Burj Khalifa/Dubai Mall or Al Wajeha Al Mayeah metro stations, as well as Marasi sea transport stations, can be reached in less than half an hour.
In addition to the services offered at Community Mall, residents of Peninsula Two will be able to reach supermarkets, banks, educational and medical facilities within 15-20 minutes. Nearby hospitals providing a wide range of medical services include EK Clinic SZC, Emirates Hospital Clinic and The Physio Center.
Nearby supermarkets and stores for daily or weekly shopping include ZOOM, W Mart Supermarket and Talabat. In addition, if you plan to stay with children, the complex is close to Horizon English School, Al Safa High School, Japanese School Dubai and Learning Tree kindergarten.
With its central location, Peninsula Two residents will have easy access to the emirate’s most popular attractions, upscale hotels and world-class restaurants. Thus, in the immediate vicinity are:
Restaurants: Jabbour Restaurant Business Bay, The Larder, Story Lounge and Restaurant, Wingsters and Hako Sushi.
Hotels: Radisson Blu Hotel, Dubai Waterfront, DAMAC Maison Court Jardin and ME Dubai, which has Dubai’s first Technogym biocycle, 5 upscale F&B establishments and a SPA center inside.
Attractions: the famous Dubai Opera, singing fountains Dubai Fountains, shopping and entertainment center The Dubai Mall and the world-famous skyscraper Burj Khalifa.
Economic attractiveness
The Peninsula Two project, which is located in the freehold area, is undoubtedly a very attractive investment opportunity and is in great demand among investors. This fact is confirmed by the fact that in the first phase of the project – Peninsula One – was completely sold out within 1 month of launch, which proves its popularity among buyers. One of the most attractive aspects of this project is, of course, its strategic location. Interested shoppers will be delighted to know that some of the most sought-after areas, including DIFC, Downtown Dubai, and Dubai International Airport, are just a 15-minute drive from the complex. In addition, when buying a property in a tower under construction, you will be granted an exemption from paying a 4% DLD fee.
According to Select Group, the estimated income from renting a 1-bedroom apartment in Peninsula Two will be AED 57,257 (USD 15,600 or RUB 1,104,000) per year. In turn, according to Bayut & Dubizzle, being one of the most sought-after areas in 2021 for the purchase of luxury apartments, the Business Bay area offers a return on investment of 5.39%. As Business Bay becomes the city’s main financial center, along with Downtown Dubai, it will attract even more businessmen and entrepreneurs, as well as local and international companies. As such, residential developments in the area, such as Peninsula Two, will witness a sharp rise in demand for both property sales and rentals.
In addition, it is also worth noting the Taskeen program from DLD, which provides the opportunity to apply for a 3-year visa through investment. In this case, the investment amount must be at least AED 750,000 (USD 204,200 or RUB 14,450,000). In addition, this visa applies to the spouses of the applicant, as well as children (up to 18 years old) and can be extended countless times. This means that after completing Peninsula Two, you will be able to become a resident of the UAE and bring your family members to the UAE.
For more information, please contact us.
