DAMAC Merano Tower
Developed by the award-winning DAMAC Properties, Merano Tower is a residential project at the prestigious address of the Burj area in Business Bay. The AED 200M development was conceptualized around the famous Italian spa town of Merano and was initially launched in Q4 2015. DAMAC Merano Tower consists of a basement level, a ground floor and 3 podiums with 26 floors of residential apartments.
End-users and investors can choose from an elegant collection of studios as well as 1, 2 and 3-bedroom apartments with premium fittings and high-quality finishes. There are 576 residential units in total available for sale and to rent. Residents of the luxury Italian-inspired building will enjoy the stunning views of the Dubai Canal waterways and the famous Dubai skyline from the comfort of their own homes.
Besides the direct access to Business Bay, Merano Tower provides an extensive array of world-class amenities and facilities. These include a temperature-controlled swimming pool, state-of-the-art gymnasium, round-the-clock security and ample underground parking spaces.
As DAMAC Merano Tower is located in the vicinity of the Sheikh Zayed Road, Al Khail Road and Ras Al Khor Road, all three travel routes ensure a no-fuss commute around the rest of Dubai. Homeowners can reach key areas such as Downtown Dubai, DIFC and Dubai International Airport within a maximum of 20 minutes’ by car.
Residents of the luxury DAMAC Merano Tower will be surrounded by well-reputed medical institutions offering high-quality healthcare services. These include Emirates Hospital Clinic and LifeLine Hospital.
The main feature of the luxury tower is its close proximity to the record-breaking attractions of Dubai such as the Burj Khalifa and The Dubai Mall. Moreover, due to the fact that DAMAC Merano Tower is situated in the immediate vicinity of the Dubai Water Canal, its residential units will keep adding in value in the years to come. This surge is promoted by the well-developed infrastructure which enhances relax & commercial activities on both banks of the canal.
The annual rental price for a 1-bedroom apartment in DAMAC Merano Tower starts from AED 45,000. As of July 2021, ROI is 5% across the area of Business Bay. When calculating net profit from this type of unit, one has to consider management fees of about AED 4,500 per year and 5% income tax of approximately AED 2,300. Thus, the estimated net profit amounts to AED 40,000.