Seven Palm Residences
Seven Palm Residences is a luxury multi-complex located in the sought-after area of Palm Jumeirah and was launched in September 2017 by Dubai-based developer Seven Tides Real Estate. The companies involved in the construction of the project include the main contractor; Airolink Building Contracting and Conin Incorporated Consultants, the architectural consultant.
The two towers, connected by the largest sky bridge in the region with an infinity swimming pool, offer around 1,066 residential and hotel apartments. In 2020 the developer released The Bridge Collection with penthouses and apartments on the sky bridge itself. The luxury residential project of Seven Palm features beautiful beachfront views of the Burj Al Arab as well as the Persian Gulf.
There are studios, 1, 2 and 3-bedroom residential units as well as 1-bedroom hotel apartments available for sale and to rent in Seven Palm Residences Dubai. The apartments are sold fully-furnished and feature large floor-to-ceiling windows, en-suite bathrooms and large bedrooms, walk-in closets as well as fully-equipped kitchens.
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The complex is just over 10 minutes away from one of the main Dubai road arteries Sheikh Zayed Road, therefore the mainland is easily accessible by car. Another way to cross over to the mainland is by taking one of the most used transport options on the Palm. The Palm Monorail, which is also connected with Dubai Tram Network. Moreover, Dubai International Airport can be reached in 30 minutes.
Seven Palm Residences Dubai is situated between two luxury 5-star hotels – Fairmont The Palm and Dukes The Palm, providing its residents with extra options for gourmet dining and leisure activities with waterfront views. Key landmarks and attractions of Dubai are within easy reach, including the Burj Al Arab Hotel, Ain Dubai Wheel, Mall of The Emirates, Nakheel Mall and Sufouh Beach.
Approximately 60% of the Seven Palm Residences construction has been completed and the project is expected to be ready for handover in Q2 2021. It is worth noting that hotel apartments are available for investors only with a guaranteed ROI of 10% per annum from the Seven Tides developer, no charge for service, maintenance and management fees of property for this period of time.
The average annual rent of a one-bedroom apartment on Palm Jumeirah amounts to AED 101,000 with an ROI of 5.5%. Thus, the net profit from a residential apartment (include the above-mentioned fees) amounts to approx AED 95,000. And a hotel apartment on Palm Jumeirah Island will bring approx. AED 111,000 of net profit.