Royal Bay is a 10-story luxury building located on the crescent of Palm Jumeirah. The project consists of 90 residential units, including apartments and penthouses. The building was designed and built by Azizi Developments, a well-known developer operating in Dubai since 2007. Construction of the project began in 2015 and was completed in 2017, all units are ready for occupancy.
The building includes 58 apartments with one bedroom, 30 with two bedrooms and 2 penthouses. Apartments range in size from 74 sq.m. to 152 sq.m. The starting price of the property is AED 1,230,000 (USD 335,000). All apartments are serviced and penthouse residents can enjoy their own private pools and jacuzzis. The apartments have panoramic views of the Persian Gulf and the skyline of modern Dubai.
Amenities available to residents include access to a landscaped pool, a gym, resident and visitor parking, a private beach, landscaped gardens, 24-hour concierge service, apartment cleaning services, a children’s pool, and a children’s playground.
Royal Bay offers premium real estate in one of the most popular tourist areas of Palm Jumeirah. The best beaches, clubs, restaurants and entertainment venues are concentrated here.
Palm Jumeirah island is suitable for connoisseurs of the resort lifestyle and fans of sea sports. Thanks to the well-developed tourist infrastructure nearby, the Royal Bay property can be used for long-term and short-term rentals. The average annual yield of the project is estimated at 5.55%.
The cost of annual rents and the value of apartments in the complex continues to rise. During the first half of 2021 the purchase price of real estate in Royal Bay increased by 0.92%. At the same time the average rental value of real estate in the area of Palm Jumeirah also increased by 4.16%.