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Dubai's Sheikh Zayed Road (SZR) is experiencing a surge in real estate activity, with existing towers being converted into freehold properties. This shift offers immediate ownership opportunities, as seen with the AA Tower, a 60-story building with apartments starting from Dh2.8 million. This trend is driven by a recent decree allowing the conversion of 128 plots along SZR to freehold status, sparking investor interest and driving up prices.
The conversion of existing buildings to freehold status presents a compelling investment opportunity. Owners of existing leasehold buildings are converting their properties to capitalize on the rising prices, which have surged by 50% to 100%. This move allows investors to acquire prime properties in a sought-after location at potentially lower prices compared to new off-plan projects.
The price per square foot in the area varies, with the Trump Tower estimated between Dh3,600 to Dh10,000 and the Burj Azizi ranging from Dh7,149 to Dh34,000. Ready properties on SZR have seen price increases of over 20% in the first half of 2025, while off-plan properties have increased by 2%. This trend highlights the advantage of purchasing ready-to-move-in freehold units.
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