St. Regis The Residences Tower 1 is the second phase of the ultra-luxury St. Regis The Residences development in the Opera District, Downtown Dubai, which was presented in Q1 2022. Developed by the highest-selling real estate giant of 2021; Emaar Properties, the branded 64-storey tower offers an expansive selection of serviced 1-3 bedroom apartments, with total living areas ranging between 729 sq. ft and 1,844 sq. ft. Nearly all residences feature one or more balconies of 21 sq. ft to 411 sq. ft (depending on the layouts), overlooking the iconic Burj Khalifa and The Dubai Mall.
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If you are interested in acquiring a serviced property in the Opera District, you can take a look at The Address Residences Dubai Opera, also developed by Emaar Properties. With an initial cost of AED 1,800,000 (USD 490,000), the project offers a 5-star concierge service, exquisite lounges and an infinity pool, among other premium amenities.
Due for completion in Q4 2026, the St. Regis The Residences is located on the last plot in Downtown Dubai facing the Burj Khalifa, The Dubai Mall and Dubai Opera, which makes it an exclusive opportunity to own a property right next to some of the most famous attractions in the world. Due to its location, the project is set to be in high demand in terms of short-term rentals in particular, especially as Downtown Dubai plans to become the centralized financial hub of the emirate, along with Business Bay, according to the Dubai 2040 Urban Master Plan. As a result, there is expected to be an influx of business professionals and entrepreneurs into the area, who prefer to stay in comfortable apartments with hotel and business facilities, next to the headquarters of their international companies and firms. According to PropertyMonitor, Downtown Dubai generates a 5.64% ROI on average, whereas weekly and daily rental costs in similar complexes is AED 14,000 (USD 3,800) and AED 3,000 (USD 816) respectively. At the same time, the annual service charge in St. Regis The Residences Tower 1 is AED 18-20 (USD 4.9-5.45) per sq. ft.
Furthermore, there is the opportunity to acquire a half floor or a full floor unit in St. Regis The Residences, which will enable you to construct several apartments for a subsequent lease and/or resale. As a result, you will obtain a strong cash flow on a regular basis and you will also be able to sell properties at the higher price, once the development is completed. In fact, the capital value of apartments in Downtown Dubai continues to surge, as according to Bayut & dubizzle, the average price per sq. ft here increased by 10.83% Y-o-Y in 2021. Of course, there is an option of building a single full-floor residence for your personal use, so you can have maximum space and privacy in the heart of the city.