Overview

Property Description

This project is part of the Urban Edition collection, following the success of Jomana. It is located adjacent to the iconic Burj Al Arab. Elara is the eighth phase of Madinat Jumeirah Living by Meraas. Three 4-bedroom penthouses and an array of 1-3 bedroom apartments are available for purchase in this complex. There are three to four bedroom residences with a maid's room, ranging in size from 716 square feet to 10,059 square feet. Among the amenities in the development are a swimming pool, a gym, a children's play area, and open spaces. In September 2023, apartments start at AED 2.3M (USD 626K). Penthouses start at AED 10.95M (USD 2.98M). *Prices are valid for 2023 If you invest in Elara, you will be eligible to sponsor your spouse, children, and domestic staff for a 10-year Golden visa. As the development is still under construction, you can take advantage of a convenient 70/30 payment plan that includes a 20% booking fee. It is worth noting that 1-bedroom apartments in the previous phase of MJL Jomana were priced at a minimum of AED 1.91M (USD 520K). The starting price of the units in the current phase has increased by approximately 20%, to AED 2.3M (USD 626K). Therefore, Elara properties have excellent resale potential, allowing you to generate excellent profits from the sale of your property. One-bedroom apartments in Madinat Jumeirah Living offer an average gross ROI of 7.5%, making Elara real estate an excellent rental option. If you decide to let out your unit and increase your capital, such high indicators suggest that you can make significant profits. The starting price is AED 115K (USD 31K) per year.

Location