Prime Residence 2 in International City Phase 1 - Dubai residental property project

Cap rates, sales prices, rents and deal volumes

Sales prices for completed properties in Prime Residence 2

Rooms	Size, sqm	Sale price, AED/sqm	Sale price, AED
1	60	8,647	515,000

Rents in Prime Residence 2

Rooms	Size, sqm	Rent, AED/sqm/ year	Rent, AED
1	59	753	44,167

The cap rate (rental yield) of investments into Prime Residence 2 project is 8.7% on average.

The price of an apartment in Prime Residence 2 is 8,647 AED/sqm on average.

The long term rent of an apartment in Prime Residence 2 is 753 AED/sqm/year on average.

Price for completed 1 bedroom apartment in Prime Residence 2 is 515,000 AED or 8,647 AED/sqm.

Rent for 1 bedroom apartment in Prime Residence 2 is 44,167 AED or 753 AED/sqm.

About Prime Residence 2

'Prime Residence 2' in 'International City Phase 1' area project description

Prime Residence 2 is a completed low-rise residential building in International City Phase 1, Dubai, offering freehold 1- and 2-bedroom apartments across 5 stories, including underground parking. Developed by Prescott Investments Ltd as part of the Prime Residency master development, construction started on 10-Mar-2009 and reached anticipated completion on 26-Dec-2010, with full status at 100% by registration on 08-Nov-2008.

The project features a straightforward layout with 174 units on a 13,116 square feet plot, structured as four main floors plus additional levels, housing approximately 41 flats per floor in a total built-up area supporting efficient residential living. Its architecture emphasizes functional design in a Spanish Cluster setting, earning LEED Gold Certification for New Construction (NC) v2.2 - the first residential project in the UAE to achieve this - with 251,176 square feet focused on sustainable standards like green building compliance.

Located in Spain Cluster, International City Phase 1, Prime Residence 2 provides convenient access to key Dubai spots: close to Dragon Mart shopping hub, Burj Park, Ras Al Khor Wildlife Sanctuary, and Promise Bridge. Reaching the beach involves a 30-35 minute drive via major highways like Sheikh Mohammed Bin Zayed Road (E311) or Al Awir Road toward Jumeirah Beach Residence or Umm Suqeim Beach areas; Dubai International Airport is about 15 minutes away by car.

Nearby projects include Prime Residency 1 in the same cluster, forming a cohesive freehold apartment block duo by Prescott, alongside other International City developments under Nakheel master planning. Amenities center on practical resident needs with underground parking and proximity to community greenspaces, though specific on-site facilities like pools or gyms are not detailed; the LEED focus highlights energy-efficient systems and commissioning by Pacific Control Systems.

This established property blends affordability with eco-conscious living in a vibrant, multicultural neighborhood, ideal for families seeking proximity to retail, wildlife reserves, and urban connectivity without downtown congestion.

Q&A on Prime Residence 2

What are the advantages of 'Prime Residence 2' project in Dubai for property buyers? What are the disadvantages?

Advantages of 'Prime Residence 2':

1. Location: Situated in International City Phase 1, it affords easy access to key areas of Dubai, including business hubs like Downtown Dubai and Business Bay.
2. Affordability: Known for offering competitive pricing, making it attractive for first-time buyers and property investors.
3. Community Amenities: Proximity to grocery stores, pharmacies, restaurants, and retail outlets.
4. Transportation: Convenient access to public transportation, including bus routes and potential future metro connections.
5. Rental Yield: Historically, International City yields strong rental returns due to its affordability and high demand.
6. Diverse Community: Offers a multicultural environment, appealing to a wide range of residents.
7. Quality Construction: Reputable firms are involved in the construction, ensuring good quality and adherence to standards.
8. Green Spaces: Availability of parks and recreational areas adds to the quality of life.

Disadvantages of 'Prime Residence 2':

1. Traffic Congestion: Peak hours can see significant traffic delays due to high population density.
2. Noise Levels: Proximity to busy roads and retail areas may result in a noisier living environment.
3. Maintenance: As with many affordable housing projects, the quality of upkeep and maintenance can sometimes be inconsistent.
4. Overcrowding: Higher density living environments can lead to overcrowding in communal areas and parking issues.
5. Resale Value: Potentially slower appreciation in property values compared to more premium areas.
6. Limited Luxury Amenities: Might lack some high-end facilities found in more upscale developments (e.g., advanced fitness centers, premium concierge services).
7. Construction Activity: Ongoing development in the area might contribute to noise and dust pollution.
8. Security: While generally safe, some buyers might find lower security measures compared to gated or more exclusive communities.