Marina Terrace Tower is a residential project from the renowned developer, Damac Properties which was commissioned back in 2006. The 600 foot (183 meter) tower includes 38 floors and a two-level underground parking garage. Public spaces within the tower occupy floors 1 to 5 in the building’s podium.

There are 200 properties of various sizes and layouts, with a choice of 1-3 bedroom apartments, and penthouses occupying the top two floors of the tower. All units have wide panoramic windows overlooking the canal and the promenade.

A 2-bedroom apartment of 1,545 sq. ft (144 sq. m) includes a kitchen, spacious living room, 3 bathrooms, a maid’s room and a large balcony. The minimum price of this type of property is AED 1,450,000 (USD 391,500).

The profitability of this project is 5.72%. The cost of a long-term rental contract  with two bedrooms is AED 120,000 (USD 32,400) a year.