Soho Palm is a residential complex developed by NYC Holdings Limited. The construction was launched in 2014 and is located in the highly popular tourist destination of Palm Jumeirah, an artificial palm-shaped island. According to the developer, their goal was to create affordable high-quality homes for any type of buyer, as well as combining loft living that we see in the likes of Barcelona, NYC or London with the beach lifestyle of Dubai.
The waterfront residential building consists of 10 floors and offers 58 residential units. They include 1, 2 and 3-bedroom apartments for sale and rent. Soho Palm is pet-friendly and offers its residents a wide range of amenities such as a state-of-the-art gym, infinity pool, sauna and steam room, play area for children, rooftop deck, jacuzzi, spa, covered parking and landscaped gardens.
The residential units are fully-furnished and feature built-in wardrobes, fully equipped kitchens and spacious balconies. The design is distinguishable by its wooden fixtures as well as white finishes, which add a contemporary twist to the neutral palette.
The proximity of Soho Palm to the Al Khail Road makes the whole city of Dubai easily accessible, as well as easy access to one of the major highways, there are also bus and metro stations nearby for the residents who prefer public transport or for those without a car. Moreover, there is the Palm Jumeirah Monorail only 10 minutes away which connects the island with the mainland. Dubai International Airport is a 30 minute drive away.
For the ultimate dining experiences with fabulous waterfront views, as well as premium spa services, residents of Soho Palm can visit a range of 5-star hotels nearby: The Atlantis, Rixos The Palm, FIVE Palm Jumeirah Hotel and many more. The location of Soho Palm is one of its most attractive features as it is surrounded by the best restaurants, retail outlets and tourist attractions, such as Ain Dubai, Dubai Marina Mall, Burj Al Arab and Nakheel Mall.
There are no schools on the island itself, but the future residents will be glad to know that there are top educational facilities, such as Dubai International Academy and Emirates International School, located within 15 minutes from Soho Palm Apartments.
One-bedroom apartments are especially popular among investors and end users, generating ROI of 7%. As mentioned, the annual rental price in Soho Palm starts from AED 105 000, USD 26 000. Taking into account fees for management, utilities and 5% income tax, the net profit amounts to approx. AED 101 000, USD 28 000.