The FIVE Hotels & Resorts are opening their third luxury lifestyle destination in Dubai called Five Beach, which will follow in the footsteps of their other well-known hotels, FIVE Palm Jumeirah and FIVE Jumeirah Village. The new edition to the collection will be located in the Jumeirah Beach Residence area. The project is in the final stages of construction and upon completion, will be the tallest building in JBR, on one of the last available plots in the neighbourhood. The handover date is scheduled for 2023.

FIVE Beach offers from 3 to 5 bedroom apartments and penthouses along with studios. The price per sq.ft. in this development starts from AED 3,100 (USD 845) to AED 4,500 (USD 1,225), with the studios having the highest price per sq.ft. due to the full sea view.

The average price for studios are around AED 2,700,000 (USD 735,000) to AED 3,000,000 (USD 817,000) with two types of designs available – with and without balconies. The living area for studios without balconies starts at 718 sq.ft. whereas the balcony design is 575 sq.ft.

A 3-bedroom apartment costs around AED 7,900,000 (USD 2,151,000) with an area that starts at 2,346 sq.ft. A 4-bedroom residence with a maid’s room will have a total living area of 5 225 sq.ft. The average price for this type of apartment is AED 18,500,000 (USD 5,037,000) and the incredible full-floor penthouse costs an average of AED 28,000,000 (USD 7,623,000) and will have an area of 9,278 sq.ft.

FIVE Hotels & Resorts are one of the top hotel brands in Dubai. According to its company, the hotels are ranked number one in terms of average daily room rate (ADR) and Revenue Per Available Room (RevPAR) in 2020, despite the coronavirus pandemic. In 2021 both hotel locations – FIVE Palm Jumeirah and FIVE Jumeirah Village have an occupancy rate of 88% with a growth of 196% in Q1 2021 compared to the same period in 2019.

One of the most important features of the project is that the property can be rented out and furthermore, the developer guarantees a 10% return rate. The amenities of the premium development along with the exceptional design and its prime location that provides easy access to some of the greatest Dubai landmarks will guarantee a high return on investment for the FIVE JBR residences.

There is also a service charge of AED 25 (AED 6,81) per sq. ft. per unit, which is calculated on the size of the apartment and deducted from the rental income once a year. However, if the property is not rented out, you have to pay the service charge yourself.