Overview

Property Description

Luma22 will be a 5-storey residential complex that is currently being developed by TownX. It will be located in Jumeirah Village Circle, Dubai and is expected to be completed by Q3 2024. There will be studios, one-bedroom, two-bedroom and three-bedroom apartments in the sustainably constructed, cosy complex, each ranging in size from 414 square feet to 1,715 square feet. Through the floor-to-ceiling windows at Luma22, the apartments will be flooded with colours from nature and the building's facade. Open kitchens with hidden appliances, strategically placed dining tables, comfortable seating around the large windows, and welcoming lighting will be used in the living areas; open kitchens with hidden appliances, strategically placed dining tables, and inviting lighting will all make up the living spaces.. Built-in shelves and large drawers will provide ample storage space in the bathrooms. There are even floor plans that include a multipurpose room that can be used as a home office, maid's room, workout or relaxation area, or extra storage space. Luma22's residences all feature a spacious balcony or terrace that overlooks the inner courtyard and surrounding neighbourhood. Studio apartments in Luma22 start at around AED 630K (USD 171.5K), while 1-bedroom apartments start at AED 946K (USD 257.5K). *Prices valid through 2023 Luma22 by TownX's residents will have access to all the amenities that Jumeirah Village Circle has to offer, including walking and jogging paths, nurseries, educational facilities, parks, and restaurants.. The complex is also right next to Jumeirah Village Triangle, Emirates Hills, Al Barsha South and Dubai Sports City, which makes it very appealing to investors as well as families who are looking for affordable properties in a peaceful area with well-developed infrastructure, quick commutes and the potential for profit. AED 49K (USD 13.3K) is the average annual rent for 1-bedroom apartments in Jumeirah Village Circle, as of Q2 2023. These are highly sought-after in the area, so investors can expect high returns of 6.7%. In Luma22, property owners can apply for a 2-year investor visa if they invest AED 750K (USD 204K) in property. If they invest AED 2M (USD 545K), they can apply for a 10-year Golden Visa, which includes family members and domestic staff.

Location