The Lofts is a mixed-use project by Emaar Properties that stands out among the residential and commercial properties in Dubai’s central Downtown Dubai area. It consists of three free-standing buildings: The Lofts East Tower with 36 floors, The Lofts Central Tower with 32 floors and The Lofts West Tower with 36 floors. The project, which was designed by Norr Group Consultants International Ltd, was completed in 2009.
The complex’s real estate collection consists of 497 properties. It includes studios and apartments with 1 and 2 bedrooms. All residences are ready to move into and come fully equipped with plumbing, a kitchen with marble countertops, fixtures and panoramic windows overlooking the Burj Khalifa, Burj Park, Dubai Fountain and Souk Al Bahar market. Some apartments are fully furnished. The Lofts offer studio apartments starting at AED 850,000 (USD 231,000) and studio apartments in The Lofts have a minimum size of 58 square meters (624 square feet).
Real estate in the central part of Dubai generates the close attention of major investors, as Downtown Dubai not only has well-developed business infrastructure, but also cultural events, landscaped areas, parks and walking areas. These factors also create a favorable environment for long-term tenants. 1-bedroom apartments at The Lofts can be purchased for an average price of about AED 1,750,000 (USD 476,400), and rents for this type of housing can be around AED 80,000-100,000 (USD 21,800-27,200) per year. The average ROI for properties in Downtown Dubai is 5.25%.