Residence 7 is a luxurious residential complex in Downtown Dubai’s heart. This high-end development comprises apartments ranging from one to four bedrooms, each featuring stunning views of the city’s skyline. Residence 7 is famous for those seeking luxury living in one of Dubai’s most sought-after neighborhoods.
Features of The Residence 7 include:
- Spacious apartments with modern amenities and high-quality finishes
- Access to a selection of on-site services, including a swimming pool, gym, and 24-hour security
- Convenient location within walking distance of popular attractions such as the Dubai Mall and the Burj Khalifa
- Stunning views of the city, including the iconic Burj Khalifa and Dubai Fountain
Whether looking for a luxurious home or a lucrative investment opportunity, The Residence 7 offers the perfect blend of style, comfort, and convenience.
Overview of The Residence 7
The Residence 7 is a luxurious residential complex located in Downtown Dubai. It consists of a single tower with 44 floors, offering a range of apartments with beautiful views of the Burj Khalifa, the Dubai Fountain, and the surrounding cityscape. The complex is designed to provide residents with a comfortable and convenient lifestyle, with various on-site amenities and features.
Location and Accessibility
Residence 7 is in a prime location in Downtown Dubai, providing easy access to some of the city’s most popular attractions. It is just a short walk from the Dubai Mall, the Burj Khalifa, and the Dubai Fountain. The complex is also conveniently located near major roadways, making it simple for citizens to travel to other parts of the city.
Key Features and Amenities
In order to give inhabitants a convenient and opulent lifestyle, Residence 7 offers a variety of features and amenities. Among the principal attributes and conveniences are:
- A swimming pool
- A gym
- A steam room
- A squash court
- A mini theater
- A library
The pool and gym are perfect for citizens who want to stay fit and healthy, while the steam room provides a relaxing way to unwind after a long day. The squash court is ideal for those who enjoy sports, while the mini-theater and library provide entertainment and relaxation options for residents.
In addition to these features, Residence 7 also offers a range of other amenities, including 24-hour security, covered parking, and concierge services. These services are crafted to provide citizens with a comfortable and convenient lifestyle, ensuring they have everything they need right at their fingertips.
Overall, Residence 7 is an excellent pick for those looking for a lavish and convenient lifestyle in the heart of Downtown Dubai. Its beautiful apartments, stunning views, and amenities make it the perfect place to call home.
Apartment Types and Specifications
Unit Layouts and Sizes
The Residence 7 offers a range of apartment types to suit different needs and preferences. The apartments come in one-, two-, and three-bedroom configurations, with spacious living areas and elegant finishes. The penthouse units offer even more space and luxury, with high ceilings and stunning city skyline views.
The one-bedroom apartments in Residence 7 are approximately 1,000 square feet in size, ideal for singles or couples. The two-bedroom apartments are more spacious, ranging from 1,300 to 1,600 square feet. The three-bedroom apartments, ranging from 2,000 to 2,500 square feet, are perfect for families.
All units in Residence 7 are designed to maximize space and natural light. They have open-plan living areas and large windows that offer panoramic views of the city. The high-floor apartments offer even more stunning views, while the lower-floor apartments provide easy access to the building’s amenities.
Interior Design and Finishes
The apartments in Residence 7 feature elegant and modern interior design with high-quality finishes and fixtures. The spacious living areas are designed for comfort and relaxation, with plush sofas, stylish coffee tables, and state-of-the-art entertainment systems.
The kitchens in Residence 7 are equipped with high-end appliances and fixtures, including built-in ovens, microwaves, and dishwashers. The cabinets are made of high-quality materials and provide ample storage space for all your cooking needs.
The bedrooms in Residence 7 are designed for comfort and relaxation, with plush carpets, comfortable beds, and elegant furnishings. The bathrooms feature high-quality fixtures and finishes, including marble countertops, ceramic tiles, and modern showerheads.
Overall, Residence 7 offers a range of apartment types and specifications to suit different needs and preferences. The units are spacious, elegant, and designed to provide maximum comfort and luxury to residents.
Price Trends and Market Analysis
Rental Prices and Market Conditions
Residence 7, Downtown Dubai, is a popular residential development that offers luxury apartments to both renters and buyers. According to Bayut, the average rent for a 2-bedroom apartment in Downtown Dubai is AED 224,608. Rental prices in the area have increased by 3% in the last six months, indicating that the market conditions favor landlords.
New developments in the area, such as The Residence 7, are expected to impact rental prices positively. Prevailing market conditions suggest that rental prices are likely to increase further in the coming months.
Sales Prices and Market Dynamics
According to Bayut, the moderate price of a 2-bedroom apartment in Downtown Dubai is AED 1,730,000, and the moderate price of a 3-bedroom apartment is AED 3,500,000. Sales prices in the area have increased by 1% in the last six months.
The market dynamics in Downtown Dubai are favorable for property buyers. The area is home to some of the most iconic landmarks in Dubai, such as the Burj Khalifa and the Dubai Mall. The moderate price of a 2-bedroom apartment in Downtown Dubai is lower than that of a similar apartment in other prime locations in Dubai, such as Palm Jumeirah and Emirates Hills.
Investors looking to buy property in Downtown Dubai can expect to pay an average price of AED 1,200,000 for a one-bedroom apartment and AED 2,500,000 for a two-bedroom apartment. The prices are competitive compared to other prime locations in Dubai.
In conclusion, Residence 7, Downtown Dubai, offers luxury apartments at competitive prices. Rental and sales prices have been increasing in the last few months, which indicates that the market conditions are favorable for both landlords and property buyers.
Lifestyle and Community
Residence 7 in Downtown Dubai offers residents a luxurious lifestyle with various amenities and facilities. From dining and entertainment to health and fitness, the community provides everything necessary for a comfortable and enjoyable living experience.
Dining and Entertainment
Residents of Residence 7 have access to various dining and entertainment options within the compound and nearby areas. The Dubai Opera, located just a few minutes away, offers a variety of shows and performances for residents to enjoy. The area also has several restaurants and cafes, such as the famous At—atmosphere restaurant near Burj Khalifa.
Health and Fitness
For those looking to maintain an active lifestyle, Residence 7 offers a range of health and fitness facilities. The community has a well-equipped gym with modern equipment, as well as a swimming pool and garden area for residents to relax and unwind. Several parks and outdoor spaces in the area provide ample opportunities for outdoor activities.
Family and Education
Residence 7 is an ideal community for families with young children, offering a range of educational facilities and services. The community has several nurseries, including the Toddler Town British and Blossom Nursery. There are several schools in the area for older children, including the GEMS Wellington Primary School, JSS Private School, and Horizon English School.
Overall, Residence 7 in Downtown Dubai provides residents with a luxurious and comfortable living experience, with various amenities and facilities to suit every need. Whether residents seek dining and entertainment options, health and fitness facilities, or educational services, the community has everything necessary for a comfortable and enjoyable lifestyle.
Investment Opportunities
Rental Yield and Vacancy Rates
Investing in Residence 7, Downtown Dubai, can be profitable due to the area’s high rental yields and low vacancy rates. According to Bayut, the average rent for a 1-bedroom apartment in Residence 7 is AED 95,000 yearly, while a 2-bedroom apartment can fetch up to AED 160,000 annually. These rental rates have remained stable over the last 12 months, indicating a steady demand for rental properties.
Vacancy rates in The Residence 7 are also low, which means that investors can expect a steady stream of rental income. With new developments such as Business Bay and DIFC nearby, the demand for rental properties in the area is expected to remain high.
Capital Appreciation Potential
In addition to rental yields, Residence 7 also offers good potential for capital appreciation. The location has seen a steady increase in property prices over the years, and with new contracts being awarded to agencies such as Mccone Properties, the market conditions remain favorable for investors.
Buyers can also benefit from the growth of nearby neighborhoods such as Business Bay and DIFC, both undergoing significant development. This is expected to increase the demand for properties in Residence 7, leading to further capital appreciation.
Building Facilities and Services
Security and Maintenance
Residence 7 in Downtown Dubai provides a range of security and maintenance services to ensure the safety and comfort of its residents. The building is equipped with skilled security staff, CCTV surveillance, and a round-the-clock security system. In addition, the building’s maintenance staff is on call around the clock to handle any problems pertaining to its amenities and services.
Additional Amenities
The Residence 7 offers a range of additional amenities to its residents. These include:
- A meeting room for business purposes
- A kids pool for children to enjoy
- An outdoor kids’ zone for children to play in
- A lounge for residents to relax and socialize
The building has 40 floors and includes 1, 2, and 3-bedroom apartments and podium villas. Its units are designed with modern and luxurious features to provide residents with a comfortable lifestyle. The building was completed in 2008 and has since become a popular choice for those looking for a high-end living experience in Downtown Dubai.
Buying and Leasing Process
Documentation and Contracts
The process typically involves a few steps when buying or leasing an apartment in Residence 7, Downtown Dubai. First, the interested party must find an apartment meeting their requirements. This can be done by searching on platforms such as Property Finder or Bayut, which offer a wide scope of apartments for rent or sale. Once an apartment has been selected, the interested party must provide specific documentation to the landlord or real estate agent. This may include a copy of their passport, visa, and proof of income.
The next step is to sign a contract after the documentation has been provided and reviewed. The agreement will outline the lease or sale terms, including the lease duration, the rent or sale price, and additional terms and conditions.
Regulatory and Legal Aspects
Certain regulatory and legal aspects must be considered when buying or leasing an apartment in Residence 7, Downtown Dubai. For example, all rental contracts in Dubai must be registered with the Dubai Land Department. Specific fees and taxes must be paid, such as the Dubai Municipality housing fee and the Dubai Electricity and Water Authority (DEWA) connection fee.
It is also important to note that landlords in Dubai must provide specific amenities and services to tenants, such as air conditioning and maintenance services. Tenants should ensure that these services are included in their contract and know their legal rights and obligations.
Overall, the buying and leasing process for apartments in Residence 7, Downtown Dubai, follows a standard procedure that involves providing documentation, signing a contract, and complying with regulatory and legal requirements. By following these steps, interested parties can ensure a smooth and hassle-free experience when renting or buying an apartment in this area.
Neighborhood and Surroundings
Residence 7 is in the highly sought-after Downtown Dubai neighborhood, known for its luxurious lifestyle and modern amenities. The neighborhood is home to some of Dubai’s most iconic landmarks, including the Burj Khalifa, Dubai Fountain, and Dubai Mall.
Nearby Attractions and Landmarks
The Burj Khalifa, the tallest building in the world, is just a short walk from Residence 7. Visitors can enjoy the stunning city views from the observation deck on the 124th floor. Another well-liked attraction is the Dubai Fountain, which is situated at the foot of the Burj Khalifa. Every evening, the fountain, which is the largest synchronized fountain system in the world, puts on a breathtaking performance.
For those who want to go shopping, Residence 7 is only a short distance from the Dubai Mall. The mall, which has the greatest selection of upscale stores and restaurants worldwide, is the biggest shopping destination in the world. Just outside the mall is Burj Park, a lovely green area with breathtaking views of the Burj Khalifa.
Proximity to Business Districts
Residence 7 is conveniently located near several business districts, making it ideal for professionals. The Dubai International Financial Centre (DIFC) is just a 10-minute drive away, while Business Bay is only 15 minutes away.
Residents of Residence 7 can enjoy the luxurious amenities the building offers, including a swimming pool and gym. The building offers a range of apartments, including 1-bedroom units, making it ideal for couples or small families.
Frequently Asked Questions
What are the average rental prices for Residence 7 in Downtown Dubai?
According to Bayut, the average rental prices for apartments in Residence 7, Downtown Dubai, are as follows:
- 1-bedroom apartments: AED 90,000 to AED 120,000 per year
- 2-bedroom apartments: AED 130,000 to AED 200,000 per year
- 3-bedroom apartments: AED 180,000 to AED 300,000 per year
Can you provide information on the available floor plans for Residence 7?
Bayut provides 2D and 3D floor plans for Residence 7, Downtown Dubai apartments. The available floor plans include:
- 1-bedroom apartments
- 2-bedroom apartments with 2 or 3 bathrooms
What amenities are offered to residents living in Residence 7?
Residents of Residence 7, Downtown Dubai, can enjoy a range of amenities, including:
- 24-hour security
- Covered parking
- Gymnasium
- Swimming pool
- Children’s play area
- Retail outlets
- Restaurants and cafes
How does The Residence 7 compare to other residential buildings in Downtown Dubai in terms of reviews?
There are no reviews available specifically for The Residence 7, Downtown Dubai. However, Property Finder reviews The Residences, including The Residence 7. The Residences has an overall rating of 3.9 out of 5 based on 128 reviews.
What are the current sale prices for properties in Residence 7?
According to FazWaz.ae, the current sale prices for apartments in Residence 7, Downtown Dubai, are as follows:
- 1-bedroom apartments: AED 1,400,000 to AED 2,100,000
- 2-bedroom apartments: AED 2,500,000 to AED 3,500,000
- 3-bedroom apartments: AED 4,500,000 to AED 6,500,000
Who is the developer behind The Residence 7, and what other projects have they completed?
- Residence 7, Downtown Dubai, is developed by Emaar Properties, one of the largest real estate developers in the UAE. Emaar Properties has completed several other projects in Dubai, including Burj Khalifa, The Dubai Mall, and Dubai Marina.
