Park Lane Business Bay - Business Bay  

Park Lane consists of office space and a hotel / hotel serviced apartments to be managed by Park Regis (a member of the Stay Well Group).The office floors have been delivered & are occupied. The hotel is scheduled for opening in Q4 2018. As of Oct 2018, there are a limited number of hotel serviced apartments available for sale on a payment-plan. The developer of the project is offering a guaranteed 8% rental return to investors for the first two years following handover.

Master Community: Business Bay
Property Types Available: Offices, Hotels, Hotel Serviced Apartments
Location: Sheikh Zayed Road
Status: Ready
Year Launched: 2008
Estimated Completion Date: December 2018
Developer: The Developer Properties
Hotel Operator: Park Regis
Title Type: Freehold
Height Classification: High-rise
Life Cycle: Partially delivered
Floors: 38
Total Hotel Apartments: 234

Lookup.ae reports prices and transactional information for Business Bay

Investment Feasibility & Decision Drivers

Snapshot summary for investing in Park Lane Business Bay

Investment Score

Value for Money
70%
Project Uniqueness
90%
Location & Connectivity
85%
Rental Yield Expectation
90%
Capital Growth Expectation
50%
More information on investment scores

Total Score

Synopsis

Sale Status: Nearly sold out. Limited units available.

Payment Plan: Average payment-plan

Ideal for: Investors

Price Range: AED 2,100 PSF - AED 2,300 PSF

Unit Types Available: Hotel, Office, Studio Hotel Serviced Apartment, 1 Bedroom Hotel Serviced Apartment

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What Our Experts Think

This is a unique investment opportunty. You can buy a hotel room in the Park Regis Business Bay for prices ranging from AED 800,000 - 1,100,000. The hotel will pay you a 8% guaranteed rental income for the first 2 years of hotel operation.

Park Lane also has a prime location, right opposite JW Marriott and Habtoor City.

Building structure is complete; opening scheduled for Q3 or Q4 of 2017.

- Updated Oct 2018

Park Lane Business Bay Dubai - Hotel Rooms guaranteeing 10% rental ...

 Published on Sep 24 2016   6,446 Views

 Source: LOOKUP.AE

 Category: Investment Guide

Park Lane is a mixed-use development in Business Bay, right off Sheikh Zayed Road. The hotel & office building is close to completion.
Investors can purchase hotel rooms within the development which offer a guaranteed 10% rental income.

Park Lane in Business Bay - Hotel Apartments for sale

Studios from AED 700,000. 1 Bedrooms from AED 1.45 million. 8% guaranteed rental income + other benefits. Flexible payment terms available. Send your inquiry to connect with the project sales team.

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About Park Lane Business Bay

Park Lane consists of office space and a hotel / hotel serviced apartments to be managed by Park Regis (a member of the Stay Well Group).

Overview & Breakdown

Park Lane was originally launched by KM Properties in 2007; however, the project was put on hold following the 2008 financial crisis. The project was revived in 2013 / 2014 through the Dubai Land Department Tanmia Initiative. The building's construction (as of Jan 2016) is in an advanced stage and completion is scheduled for Q1 or Q2 2016.

- Floors 1 - 22 are office space. Executive Office space is available on the 31st and 32nd floor.

- Hotel apartments are from the 23rd - 30th floor

- There are a total of 234 hotel apartments, studios and 1 bedrooms only.

- Park Regis, a member of Staywell Hospitality has been appointed as the hotel operator.

- Each floor in the hotel component consists of 26 units (24 studios and 2 one bedrooms). The studios range in size from 304 - 507 sq. ft. while the 1 bedrooms have built up areas of 763 sq. ft.

FAQs

If I invest in a hotel room, can I rent my unit out myself?

You have to sign a management agreement. 8% rental return is guaranteed for the first 2 years.

After the first 2 years, all units will be in a rental pool meaning that revenues will be shared based on the size of the units; distribution by management company will be done on a per sq. ft. basis.

Benefits for owners

- 14 nights free stay annually

- 1st year recreational membership free

- No services charges

- No maintenance fees

- 15% discount on F&B outlets (even if you're not staying at the hotel)

Are units available for sale?

As of October 2018, there are limited hotel rooms for sale. The developer is still offering a guaranteed 8% rental income for the first two years.

Dubai Land Classification Details:

Land Number: 88

Project Number: 20

RERA Permit No : 15128

Positives of Park Lane Business Bay

Amenities of Park Lane Business Bay

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