Kensington Waters is a new residential development in Mohammed Bin Rashid City (MBR City) in Dubai, consisting of two detached buildings. Kensington Waters Tower A will include studios and 1-2 bedroom apartments, and Kensington Waters Tower B will include apartments with 1 to 3 bedrooms. The developer of the project is Ellington Properties and was launched back in June 2021. The approximate date of delivery of the complex is Q4 2023.
The complex features a barbecue area, indoor and outdoor playgrounds, a fitness room, both adult and children’s swimming pools, a steam room and a sauna. Kensington Waters will also feature allocated parking and an electric car charging station and each of the buildings of the complex will have three elevators.
Kensington Waters in MBR City features properties ranging in size from 450 sq.ft. (42 sq.m.) to 2,033 sq.ft. (189 sq.m.). The cost of studios within the complex starts from AED 765,000 (USD 208,000), and the price of apartments with three bedrooms reaches AED 2,350,000 (USD 640,000).
Investing in real estate in the Mohammed Bin Rashid City area offers a return on investment of 5.34%. The average annual rental cost for an apartment in the area is AED 84,000 (USD 23,000). Depending on the initial cost of apartments in Kensington Waters, an investment in this type of property will pay for itself within 20-22 years.