Apartment in Dubai, UAE, 38 sq.m

Luma22 is a 5-storey residential complex from TownX, which will be located in Jumeirah Village Circle, Dubai. Its construction is due to be completed in the third quarter of 2024. The project will include studios and apartments with 1–3 bedrooms ranging from 38 sq. m. up to 159 sq. m.

The residences, decorated in a modern style, will have panoramic windows. The kitchens will be equipped with built-in appliances, dining tables, and comfortable armchairs. Built-in shelves and large drawers in the bathrooms provide residents with plenty of storage space. Some properties will have a multi-purpose room that can be used as a home office, storage room, maid's quarters, workout or relaxation area. All Luma22 residences have a large balcony or terrace with stunning views of the courtyard or surrounding area.

Residents of the complex will be able to enjoy a variety of amenities, including:

rooftop pool with sun loungers;
private courtyard garden with seating areas;
children playground;
gym with separate rooms for men and women;
large decorated lobby;
concierge services.

Location

Luma22 is located in the popular Jumeirah Village Circle, District 10. This location is ideal not only for families, young couples, but also for people focused on career growth. Since the complex is located near Al Khail Road, you can quickly reach Dubai Internet City, Dubai Media City and other places.

Jumeirah Village Circle is the perfect place for a family holiday. Not far from the complex there are many parks with playgrounds and green areas. Here you can use jogging and walking paths, sports grounds, swimming pools, etc. You can also quickly get to schools, kindergartens, supermarkets, medical facilities, restaurants and entertainment venues.

Amenities located in or around District 10 include:

stores: Choithrams Manhattan Tower JVC, All Day Minimart, VIVA Supermarket – JVC, Spinneys JVC, The Springs Souk, City Center Me'aisem;
F&B establishments: Deccan Delight Restaurant Dubai, Like View Restaurant, Socialicious – House of Asian Blends, Tim Hortons, Papa Murphy’s;
medical institutions: Mediclinic Parkview Hospital, Right Health Karama Medical Center, Burjeel Hospital for Advanced Surgery Dubai;
educational institutions: Kids World Nursery JVC, Green Roots Nursery Dubai, Nord Anglia International School Dubai, JSS International School, Global Indian International School Dubai Campus;
beaches: Al Sufouh Beach, Jumeirah Beach.
Ras AL Khor Wildlife Sanctuary, Motiongate Dubai, Jebel Ali, Downtown Dubai and Dubai International Airport are within a 15-30 minute drive.

Economic attractiveness

The complex is close to Jumeirah Village Triangle, Emirates Hills, Al Barsha South and Dubai Sports City. Its residents have access to all necessary infrastructure. This makes Luma22 attractive to both investors and families who want to buy inexpensive property in a quiet area with developed infrastructure.

As of the second quarter of 2023, the average annual rental price for a one-bedroom apartment in Jumeirah VIllage Circle is AED 49 thousand (USD 13.3 thousand). In this area, such apartments are in great demand, so investors can expect a high profitability of approximately 6.7%.

If you invest at least AED 750 thousand (USD 204 thousand) in Luma22 real estate, you can get an investor visa for two years. If the property value is AED 2 million (USD 545 thousand) or higher, you can get a 10-year Golden Visa, which applies to both family and domestic staff.