First freehold residential and commercial development - AA Tower was launched on Sheikh Zayed Road

The first freehold residential and commercial development was launched on Sheikh Zayed Road. The iconic project, AA Tower, is a 60-story skyscraper that will be built on a 10,000 square foot lot. It will have 369 residential units, including 26 office spaces, 5 retail stores, and 195 one-, 198 two-, and three three-bedroom apartments.

The Dubai Land Department (DLD) announced on January 19 that 457 plots in the Al Jaddaf region and along Sheikh Zayed Road are now available for freehold ownership, which was followed by this launch. There are 329 plots in Al Jaddaf and 128 plots that run from the World Trade Centre Roundabout to the Water Canal.

According to Harbor Real Estate, the first freehold residential and commercial buildings on Sheikh Zayed Road were introduced by Ahmed Mostafa Ahli Investment Group.

Residential units at AA Tower are priced between Dh2.932 million and Dh5.4 million, or roughly Dh3,544 to Dh4,578 per square foot. Office space costs between Dh2.232 million to Dh7 million in the meantime. Retail establishments range in price from Dh12.136 million to Dh25 million. The payment schedule for residential units starts with a down payment of 28% and is followed by 12 quarterly installments of 6%.