Paloverde is an apartment complex located in the Akoya Oxygen community, which is part of Damac Hills 2. DAMAC Properties, a leading development company, worked on the project, and construction was completed in 2021.
The complex features three to six-bedroom villas and three to five-bedroom townhouses. Plots of land are also available for owners who wish to build a home.
Villas and townhouses have a modern style with interiors featuring environmentally friendly materials and a natural colour palette. Residences are surrounded by natural landscapes, which seamlessly complements the buildings.
Units include spacious bedrooms, terraces, designer bedrooms, Smart Home systems, air conditioning units, heating systems, built-in closets, modern plumbing, new appliances, open kitchens, panoramic windows with glazing, parking spaces, private backyards, hedges, private outdoor pools, recreation spaces, and barbecue areas. Units can be purchased with furniture.
The size of a villa starts at 176.5 sq. m (1,900 sq. ft), and prices start at AED 700,000 (USD 190,557).
Paloverde’s residences have an annual return on investment rate of approximately 5.1%.
The annual rental cost for a three-bedroom villa is AED 115,000 (USD 31,310).
Property rent tax is 5%, AED 5,750 (USD 1,565). The complex’s maintenance fees start at AED 20,000 (USD 5,445), and net income is AED 89,250 (USD 24,299).