In a significant development for the Dubai real estate market, the Ahmed Mostafa Ahli Investment Group has officially launched sales for its newest project, AA TOWER, a 60-storey mixed-use development positioned along the bustling Sheikh Zayed Road. This landmark initiative introduces the first completely freehold residential and commercial units in the area, marking a pivotal shift in property ownership accessibility in one of Dubai’s most dynamic corridors.
The introduction of AA TOWER coincides with fresh policy adjustments that permit freehold ownership, empowering property buyers from various nationalities to invest in this prime location.
To celebrate this launch, AA TOWER will host an unveiling event on Tuesday, May 27, at the V Hotel in Al Habtoor City. According to company representatives, the event is being organized alongside Harbor Real Estate, the exclusive sales agent, and will draw a diverse audience of investors and real estate professionals from around the region.
AA TOWER: A Groundbreaking Freehold Project in Dubai
AA TOWER stands out as the first mixed-use project along Sheikh Zayed Road to enter the fully freehold market. This significant step comes in the wake of a decision by the Dubai government, which allows private property owners on this vital roadway to transition their holdings to freehold ownership, ultimately increasing investment opportunities for all nationalities.
“AA TOWER is a game-changer in Dubai’s real estate market. Its strategic location on Sheikh Zayed Road—one of the most iconic and important avenues in the city—creates wide-ranging opportunities for investors from within and outside the UAE. The market is looking forward to a strong launch, as this project sets a new benchmark and reinforces Dubai’s global reputation for delivering exceptional and distinctive investment opportunities under the freehold system,” remarked Dr. Mohanad Alwadiya, CEO of Harbor Real Estate.
Situated on a generous 10,000 square foot plot, the 60-story AA TOWER will feature 369 residential units, consisting of 195 one-bedroom apartments, 198 two-bedroom apartments, and 3 three-bedroom apartments. The development further includes 26 office units, 5 retail spaces, and 447 parking spots.
The apartment layouts are designed to maximize space, with floors 1 to 51 offering eight units each, while floors 52 and 53 house larger two-bedroom apartments ranging from 1,700 to 2,100 square feet. For added flexibility, owners can opt to combine one-bedroom and two-bedroom units.
Prime Location and Amenities
AA TOWER boasts breathtaking views of the Burj Khalifa, Downtown Dubai, and Jumeirah Beach. Its prime location ensures easy access to iconic destinations such as City Walk, Dubai International Financial Centre (DIFC), the Museum of the Future, World Trade Centre, Mohammed Bin Rashid Boulevard, and The Dubai Mall. The development benefits from extensive transportation links, including highways and the Dubai Metro, while nearby amenities feature a range of restaurants, cafes, international schools, and hospitals.
Residents of AA TOWER will enjoy a host of luxurious facilities, including a swimming pool, gymnasium, indoor cinema, multi-purpose event hall, prayer room, and a designated barbecue area. The apartments offer both open and closed kitchen layouts and feature high-quality materials from reputable brands.
Flexible Payment Plans and Pricing
The project introduces a convenient post-handover payment plan. For residential units, prospective buyers will need to provide a 28% down payment along with a 4% registration fee to the Dubai Land Department (DLD), AED 3,000 in administrative fees, followed by 12 quarterly payments of 6%. For commercial units, the terms require a 40% down payment, a 4% DLD registration fee, 5% VAT, AED 3,000 in administrative fees, and 12 quarterly installments of 5%.
The pricing for residential apartments ranges from AED 2.932 million to AED 5.4 million, translating to approximately AED 3,544 to AED 4,578 per square foot. Office spaces are available within a price range of AED 2.232 million to AED 7 million, or AED 5,205 to AED 5,375 per square foot. Retail units are priced starting at AED 12.136 million, escalating up to AED 25 million, with an approximate rate of AED 7,829 per square foot.