Myka Residence in Dubai Production City - Dubai residental property project

Cap rates, sales prices, rents and deal volumes

Sales prices for completed properties in Myka Residence

Rooms	Size, sqm	Sale price, AED/sqm	Sale price, AED
Studio	41	16,054	660,000
1	89	13,503	1,200,000
2	113	15,110	1,700,000

Rents in Myka Residence

Rooms	Size, sqm	Rent, AED/sqm/ year	Rent, AED
Studio	41	1,024	42,000

The cap rate (rental yield) of investments into Myka Residence project is 7.2% on average.

The price of an apartment in Myka Residence is 14,681 AED/sqm on average.

The long term rent of an apartment in Myka Residence is 1,024 AED/sqm/year on average.

Price for completed Studio apartment in Myka Residence is 660,000 AED or 16,054 AED/sqm.
Price for completed 1 bedroom apartment in Myka Residence is 1,200,000 AED or 13,503 AED/sqm.
Price for completed 2 bedroom apartment in Myka Residence is 1,700,000 AED or 15,110 AED/sqm.

Rent for Studio apartment in Myka Residence is 42,000 AED or 1,024 AED/sqm.

About Myka Residence

'Myka Residence' in 'Dubai Production City' area project description

Myka Residence is a luxurious residential project located in Dubai, UAE. The project is developed by Meraas, a leading real estate developer in the region. The project is located in the heart of Dubai, just minutes away from the iconic Burj Khalifa and Dubai Mall.

Myka Residence is a high-end residential project that offers a range of luxurious apartments and villas. The apartments are designed with modern and contemporary finishes, and feature spacious living areas, fully-equipped kitchens, and balconies with stunning views of the city. The villas are designed with modern and luxurious finishes, and feature spacious living areas, fully-equipped kitchens, and private gardens.

The project also offers a range of amenities and facilities, including a swimming pool, gym, sauna, steam room, Jacuzzi, and a children’s play area. Residents can also enjoy a range of retail and dining options, as well as a range of entertainment and leisure activities.

Myka Residence is located in a prime location, close to some of the city’s most popular attractions and destinations. The project is close to the Dubai Mall, the Dubai International Financial Centre, and the iconic Burj Khalifa. It is also close to the Dubai Marina, the Palm Jumeirah, and the Dubai International Airport.

Myka Residence is a luxurious residential project that offers a range of luxurious apartments and villas, as well as a range of amenities and facilities. The project is located in a prime location, close to some of the city’s most popular attractions and destinations. It is an ideal choice for those looking for a luxurious lifestyle in the heart of Dubai.

Q&A on Myka Residence

What are the advantages of 'Myka Residence' project in Dubai for property buyers? What are the disadvantages?

Advantages of Myka Residence in Dubai Production City:

1. Strategic Location: Situated in Dubai Production City, Myka Residence benefits from proximity to major highways like Sheikh Mohammed Bin Zayed Road, providing easy access to other parts of Dubai.

2. Affordability: Often properties in Dubai Production City are more competitively priced compared to areas like Downtown Dubai or Dubai Marina, making it attractive for first-time buyers or those looking for more affordable real estate options.

3. Modern Amenities: Myka Residence typically includes modern amenities such as gyms, swimming pools, landscaped gardens, and sometimes even retail spaces, enhancing the living experience for residents.

4. Community Environment: The area fosters a community vibe with various social and recreational facilities, contributing to a balanced lifestyle.

5. Investment Potential: With Dubai Production City developing rapidly, property values could appreciate over time, presenting a good investment opportunity.

6. Proximity to Business Hubs: Close to both Media City and Internet City, making it a convenient residence for professionals working in these business districts.

Disadvantages of Myka Residence in Dubai Production City:

1. Traffic Congestion: Proximity to major highways can lead to traffic congestion during peak hours, potentially prolonging commutes.

2. Industrial Backdrop: Being part of an industrial and commercial area, the aesthetic appeal may be less compared to more luxurious areas like Palm Jumeirah or JBR.

3. Noise Levels: Industrial activities and proximity to highways might result in higher noise levels, which might be a concern for some residents.

4. Limited Social Scene: Unlike more bustling areas like Downtown Dubai or Dubai Marina, Dubai Production City has a more subdued social and nightlife scene.

5. Public Transport: Though improving, public transport options may not be as developed as in other parts of Dubai, making a car more of a necessity.

6. Resale and Rental Market: The area might not attract the same level of high-end buyers or renters, potentially affecting the speed of resale or rental occupancy rates.

What projects are better than 'Myka Residence' project in Dubai which are located close by, and why?

One project that stands out in the Dubai Production City area is "Lakeside Residences." This development offers several advantages over "Myka Residence," including a more expansive array of amenities, waterfront views, and a stronger reputation for quality construction. Residents enjoy access to multiple swimming pools, fully-equipped gyms, landscaped gardens, and retail spaces.

"Centrium Towers" is another compelling option. It provides larger living spaces, higher quality finishes, and better accessibility to major roads and public transport. This project features multiple residential towers with 1, 2, and 3-bedroom apartments, all designed with modern architecture and premium materials.

"IMPZ Royal Residences" is known for its luxurious amenities, including high-end fitness centers, spas, and a variety of dining options within the complex. Additionally, it boasts a higher level of security and concierge services, making it a preferred choice for residents prioritizing comfort and safety.

What are the closest schools to 'Myka Residence' project in Dubai?

- Victory Heights Primary School: Located in Dubai Sports City, approximately 5-10 minutes away from Dubai Production City.
- GEMS Metropole School: Situated in Motor City, around 10-15 minutes from Dubai Production City.
- The International School of Choueifat: Located in Dubai Investments Park, roughly 15-20 minutes away.
- Dwight School Dubai: Positioned in Al Barsha South, approximately 15-20 minutes away.
- Nord Anglia International School Dubai: Located in Al Barsha, about 20-25 minutes from Dubai Production City.

What are the closest medical clinics to 'Myka Residence' project in Dubai?

- Mediclinic Me'aisem, located in the City Centre Me'aisem, Me'aisem 1, Dubai Production City.
- NMC Royal Hospital, located in Dubai Investments Park, Dubai.
- Aster Clinic, located in IMPZ, near Me'aisem City Centre.
- Dubai London Clinic, located in the Jumeirah Village Triangle community.
- iCare Clinics, located in The Greens, Emaar Business Park 3.