Dubai Launches First Freehold Project on Sheikh Zayed Road with 60-Storey AA Tower
In a significant milestone for Dubai’s real estate market, the city has unveiled its first-ever freehold residential and commercial project on Sheikh Zayed Road, one of the most prominent addresses in the UAE. The launch of the 60-storey AA Tower follows a recent directive by the Dubai Land Department (DLD) allowing private ownership of properties along Sheikh Zayed Road and in Al Jaddaf.
Spanning a 10,000-square-foot plot, the AA Tower will offer 369 residential apartments, comprising 195 one-bedroom, 198 two-bedroom, and 3 three-bedroom units. The tower will also include 26 office spaces and 5 high-end retail stores, marking a strategic blend of upscale living and business opportunities.
Game-Changer for Sheikh Zayed Road Property Market
This launch is part of a broader initiative by the Dubai Land Department, which on January 19, 2025, declared 457 plots across Sheikh Zayed Road (128 plots) and Al Jaddaf (329 plots) eligible for freehold ownership. The announcement has been widely celebrated as a transformative step in enhancing Dubai’s investment landscape.
“This project sets a new benchmark and reinforces Dubai’s global reputation for delivering exceptional and distinctive investment opportunities under the freehold system,” said Mohanad Alwadiya, CEO of Harbor Real Estate, the exclusive sales agent for AA Tower.
Premium Location, Flexible Design, and Strategic Pricing
Developed by the Ahmed Mostafa Ahli Investment Group, AA Tower is situated in one of Dubai’s most sought-after corridors, surrounded by world-renowned landmarks such as the Burj Khalifa, Dubai International Financial Centre (DIFC), Dubai Mall, and the Dubai World Trade Centre. The tower also benefits from direct connectivity between Old and New Dubai.
In a unique feature, owners will have the option to merge one- and two-bedroom units to customize their living spaces.
Pricing and Payment Plans:
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Residential Units: From AED 2.932 million to AED 5.4 million (approx. AED 3,544–4,578 per sq. ft.)
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Office Spaces: Starting at AED 2.232 million, up to AED 7 million
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Retail Stores: Priced between AED 12.136 million and AED 25 million
The payment plan for residential buyers starts with a 28% down payment, followed by 12 quarterly instalments of 6% each.
With this pioneering development, Dubai cements its status as a real estate powerhouse, offering global investors prime opportunities in freehold property ownership along one of the city’s most iconic avenues.
