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Park Avenue is a five-storey residential complex that is currently under construction in Mohammed Bin Rashid City, Dubai. Construction of the residences started in August 2020. The project was developed by Azizi Developments, and the architectural design was implemented by 360 Degrees Architectural Design Consultancy. The main construction work is being carried out by Al Zahraa Foundation Contractors LLC. The complex has a total of 140 properties that are available for sale, including one- to two-bedroom apartments. Properties have living areas, built-in wardrobes, balconies, and bedrooms with ensuite bathrooms. Apartments have a minimum size of 452 sq. ft., and prices range from AED 829,000 (USD 226,000) to AED 1,354,000 (USD 369,000). The complex provides a variety of amenities and services, including:
Covered parking
Children’s play area
Swimming pool
Rooftop terrace
Nearby park and river
Recreational facilities
Gym
Concierge services
Tennis courts
24-hour security
Cycle and jogging paths
Spa
Central air-conditioning
Sauna
Sports fields
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The area does not offer direct links to public transportation. Therefore, residents are advised to travel by personal vehicle and taxi. Dubai International Airport can be reached within a 20-minute drive of the residences, and Al Maktoum International Airport is located within a 40-minute drive.
There are many popular attractions situated within a five- to 20-minute drive of the complex, including:
Park Avenue is located in one of the greenest parts of the emirate. It is situated on Meydan Avenue in the heart of Mohammed Bin Rashid City. Residents have easy access to Downtown Dubai, as well as many local parks and attractions. Park Avenue is also popular due to its proximity to several golf clubs, a tennis academy, and a racecourse. As a result, properties in the area are in steady demand among tenants and investors. Park Avenue offers units that are expected to have a return on investment rate of 6%, depending on the type of accommodation. The estimated payback period on investments ranges from 17 to 20 years.
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