Asteco to lease 48 on Burjgate luxury tower

  • Published by Vedat
Leading regional real estate services firm, Asteco Property Management, has been appointed the sole leasing agent for new luxury residential project, ‘48  Burjgate’, a prestigious location on the Sheikh Zayed Road in Dubai.

48-on-BurjgateA high-rise development occupying two towers, the soaring structure occupies a prime position adjacent to the Dubai Mall metro station, offering direct access to the Dubai Mall.

One tower will offer five-star hotel luxury under the Sofitel brand, and is set to open in Q1 2014, while the 48-storey residential tower will be home to a collection of 182 upmarket apartments and Grade A office space.

“This is one of only a select few projects located on the in-vogue and much sought after Sheikh Zayed Road corridor, especially with young white collar professionals. Tenants will be able to move into a brand new apartment, with five-star hotel services on their doorstep as well as direct access to the world’s largest retail and entertainment destination – the Dubai Mall; making this the ultimate lifestyle statement,” said Sean McCauley, Director – Agency, Asteco Property Management.

As one might expect, the apartments also all come with spectacular views of Burj Khalifa and the Dubai Fountain, or the Arabian Gulf and Jumeirah Beach coastline, and are equipped with high-end Siemens’ white goods including fridge, cooker, washing machine/dryer and microwave.

“As the sole leasing agent for the apartments we are able to draw on our existing database of discerning clients, for whom location and lifestyle are key relocation drivers. And with the country’s National Bureau of Statistics reporting accelerated economic growth of 4.4% across all sectors in 2012 – the fastest pick-up since 2006 – demand for quality-led units in centrally located urban hotspots puts developments like 48 on Burjgate at the top of many of our client’s lists,” added McCauley.

Available immediately for leasing, prospective tenants will have the choice of 182 apartments including studio, one, two and three-bed units with an additional selection of four-bedroom duplex units. The apartments range in size from 400 square feet up to 2700 square feet, with annual rental rates starting from AED 65,000 for a studio up to AED 280,000 for a four-bedroom duplex.

Facilities available at the upcoming Sofitel hotel include a selection of world-class restaurants, fitness club, two swimming pools, ballroom and suite of meeting rooms, with the added bonus of close proximity to Dubai International Financial Centre and surrounding Downtown Dubai district.

According to the Q1 2013 Dubai focus report from Asteco, apartment rental rates recorded up to 3% Q-on-Q growth in most areas. However on an annual basis, a two-bedroom unit on Sheikh Zayed Road recorded an increase of 20%.


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