Lake Terrace is an apartment complex that is part of the Jumeirah Lake Towers community.
The project was developed by the development company DAMAC Properties. The construction was completed in 2008.
The building is located in the northern part of JLT, in cluster D. Other complexes in this cluster also include Indigo Tower and Lake City Tower.
The height of the complex is 40 floors. The first floor of the building is occupied by commercial premises and stores. The facade of the tower is in white and turquoise shades and is made of modern and ecological materials.
Lake Terrace offers exclusive studios, 1, 2 and 3 bedroom apartments. There are 544 total units in the complex.
The apartments have a kitchen with all necessary appliances, built-in closets, a laundry room, a walk-in closet, a wide balcony, minimalist finished bedrooms, a bathroom with separate shower area, and panoramic windows. There are views of the lake and the park.
There is 24 hour security and video surveillance, a fitness center and gym, a swimming pool, high-speed elevators, air conditioning and heating, a beauty salon, and underground parking.
A hotel is located in the building, which provides residents with a maid’s service, concierge and other services. The hotel has an outdoor pool, sauna, bar, children’s entertainment and educational playgrounds.
Apartments start at 66.7 sq. m (718 sq. ft). The price for a one-bedroom apartment starts at AED 720,000 (USD 196,022).
The return on investment in the apartments is 7.59%.
The price of renting a one-bedroom apartment is AED 65,000 (USD 17,696) per year.
Net income is AED 51,167 (USD 13,930).
Annual maintenance of the complex starts from AED 10,583 (USD 2,881). There is a rental property tax of 5% which is AED 3,250 (USD 885).