Azure Residences is a luxury residential complex being built at the eastern end of the Palm Jumeirah artificial island trunk in Dubai. The 12-story building by Nakheel PJSC has a property collection of 170 residential units. Construction of the complex began in 2013 and was completed in 2016.
Azure Residences features 1 and 2-bedroom apartments ranging in size from 80 square feet (861 sq. f.) to 187 square feet (2013 sq. f.). Each residence overlooks an island, the Arabian Gulf and Dubai skyline. Apartments have high quality finishes, with panoramic windows, balconies, and fully equipped kitchens and bathrooms. The Azure Residences property is sold off-plan, which implies the right to fully own the property.
Azure Residences offers all the amenities you need for a comfortable life on the coast. Its spacious residences appeal to investors as well as short and long-term tenants. Apartments with 1 bedroom vary in price from AED 1,850,000 (USD 473,000) to AED 2,400,000 (USD 613,000), and the annual rent for this type of housing can reach AED 135,000-155,000 (USD 33,000-40,000). ROI on investments in 1-bedroom apartments is 4, 7% in 2-bedroom apartments and in 3-bedroom apartments 8%.