Ahmed Mostafa Ahli Investment Group has started sales for AA TOWER, a new 60-storey mixed-use development on Sheikh Zayed Road, offering the first fully freehold residential and commercial units in the area.
The launch follows recent policy changes allowing freehold ownership on one of Dubai’s busiest and most prominent corridors.
The development will be unveiled at a launch event on Tuesday, May 27, at the V Hotel in Al Habtoor City, the company said in a statement, adding that the event is being organised in collaboration with Harbor Real Estate, the exclusive sales agent. It will host investors and real estate professionals from across the region.
New freehold project AA TOWER opens sales in Dubai
AA TOWER is the first mixed-use project on Sheikh Zayed Road to be included in the fully freehold market.
The launch follows a decision by the Dubai government that allows private property owners on Sheikh Zayed Road to convert their holdings into freehold ownership. This change enables ownership access to 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,” Dr Mohanad Alwadiya, CEO of Harbor Real Estate said.
Located on a 10,000 square foot plot, the 60-storey AA TOWER includes 369 residential units.
These consist of 195 one-bedroom apartments, 198 two-bedroom apartments, and 3 three-bedroom apartments. The tower also contains 26 office units, 5 retail stores, and 447 parking spaces.
Floors 1 to 51 each hold eight apartments. Floors 52 and 53 include larger two-bedroom units ranging from 1,700 to 2,100 square feet.
Owners will have the option to merge one-bedroom and two-bedroom apartments.
The project is located on Sheikh Zayed Road with views of Burj Khalifa, Downtown Dubai, and Jumeirah Beach.
It is in proximity to destinations such as City Walk, Dubai International Financial Centre (DIFC), Museum of the Future, World Trade Centre, Mohammed Bin Rashid Boulevard, and The Dubai Mall. The site offers access to highways, public transportation, and Dubai Metro. Nearby facilities include restaurants, cafes, international schools, and hospitals.
AA TOWER provides facilities such as a swimming pool, gym, indoor cinema, multi-purpose event hall, prayer room, and barbecue area. Apartments are available with open and closed kitchen layouts and feature materials from known brands.
The project also offers a post-handover payment plan. For residential units, this includes a 28 per cent down payment, 4 per cent registration fee to Dubai Land Department (DLD), AED 3,000 in administrative fees, and 12 quarterly payments of 6 per cent.
Commercial units require a 40 per cent down payment, a 4 per cent DLD registration fee, 5 per cent VAT, AED3,000 in administrative fees, and 12 quarterly instalments of 5 per cent.
Residential apartment prices range from AED2.932 million to AED5.4 million, equivalent to approximately AED3,544 to AED4,578 per square foot.
Office spaces are priced between AED2.232 million and AED7 million, or AED5,205 to AED5,375 per square foot.
Retail units start at AED12.136 million and go up to AED25 million, with an approximate rate of AED7,829 per square foot.
