Al Waleed Paradise, JLT

Al Waleed Paradise, JLT

HIGHLIGHTS

About Al Waleed Paradise

Located in JLT in Cluster R, Al Waleed Paradise is a high-rise building. Standing at a height of 131 metres, this skyscraper consists of 35 floors; three basement levels and 33 floors above ground. The building features studios as well as 1, 2, 3 and 4-bedroom apartments with two penthouses on the top floor.

Al Waleed Paradise
Al Waleed Paradise is a 35-storey building in JLT

The construction of this architectural masterpiece began in 2005 and was completed in 2008. The residence has been devised by one of the leading real estate companies of the UAE, Al Waleed Real Estate

Al Waleed Paradise, JLT is located close to Dubai Internet City, Media City and American University, with direct access to Sheikh Zayed Road which makes it a perfect location for families, students and working professionals. It is well-connected in terms of transport as DAMAC Properties Metro Station is situated within walking distance.

Jumeirah Lake Towers is a popular neighbourhood in Dubai consisting of many high-rise towers, surrounded by artificial lakes. The area has 26 clusters, named in alphabetical order from A to Z. Boasting luxury residential and commercial towers, the locality is ideal for families and professionals. Centrally located in New Dubai with two metro stations, it makes commuting easy for people who travel to different parts of Dubai.

IN A NUTSHELL

  • Located in Jumeirah Lake Towers, Cluster R
  • High-rise skyscraper consisting of 35 floors
  • 33 floors above ground with three basement parking levels
  • Contains a total of 247 apartments divided into studios, 1, 2, 3, and 4-bedroom apartments
  • Two exclusive penthouses on the top floor
  • Waterfront development offering lake-side living
  • Freehold ownership
  • Launched in 2005 and completed in 2008
  • DAMAC Properties Metro Station is accessible

BUILDING DETAILS

Facilities in Al Waleed Paradise

The tall residential tower features a variety of apartments with numerous amenities, making it an ideal choice for both investors and tenants.

Parking

There are three levels of underground basement parking reserved for residents. Visitors can park their cars outside the building.

Elevators

There are high-speed elevators as well as service elevators in the building.

Security, Central Air-Conditioning and Maintenance Services 

Al Waleed Paradise Tower is highly secure with 24-hour security staff and CCTV monitoring. The tower is well maintained with a proper system for waste disposal. The district cooling is supplied by Empower whereas the tower receives its water and electricity supply from DEWA.

Gym and Fitness Facilities 

The health club at the top of the building provides residents with fitness facilities and includes a gym with cardio and weight lifting equipment. There is a large swimming pool on the rooftop offering great views of the city from a height. Also, the tower has facilities like Jacuzzi, sauna and steam rooms.

Safety Features

There are fire alarm systems installed in the building.

Al Waleed Paradise Floor Plans 

The residential units in Al Waleed Paradise come in different floor plans and configurations. Here is the floor plan of the apartment building:

  • Studio apartments in Al Waleed Paradise consist of one unit type
  • 1-bedroom apartments in Al Waleed Paradise consist of two different unit types

Bayut has created a simple format for 2D and 3D floor plans on the website. You can easily find the bed type you’re interested in by browsing Al Waleed Paradise floor plans.

Apartment Types in Al Waleed Paradise

The tower features a total of 274 apartments. These are divided into studios, 1, 2, 3 and 4-bedroom apartments. It also has two spacious penthouses that are built on the top floor.

Studio Apartments in Al Waleed Paradise

The total area for studio apartments starts from 400 sq. ft and goes up to 600 sq. ft. These are spacious units with the kitchen separated from the rest of the flat. Apart from the sleeping and dining area, it includes a bathroom with a shower and a balcony.

1-Bedroom Apartments in Al Waleed Paradise

1-bedroom flats have a coverage area that ranges between 600 sq. ft. and 1,000 sq. ft. These come with a modern kitchen, a bedroom with an en-suite bathroom, a built-in wardrobe, a living area, a powder room and a balcony. Some units also have an Open to Sky (OTS) area.

2-Bedroom Apartments in Al Waleed Paradise

The area for 2-bedroom flats in Al Waleed Paradise starts from 1,100 sq. ft. and can go up to 1,400 sq. ft. These 2-bed apartments come with a large living area, a fitted kitchen, two bedrooms and two bathrooms. There are a few units with a third bathroom as well.

3-Bedroom Apartments in Al Waleed Paradise

3-bedroom units are large and ideally suitable for big families. The sizes of these apartments vary from 1,800 sq. ft. to 2,500 sq. ft. coming with a living and dining area, three bedrooms with attached bathrooms, a kitchen and a balcony. Some units have a maid’s room too.

4-Bedroom Apartments in Al Waleed Paradise

4-bedroom apartments have an area ranging between 2,100 sq. ft to 2,200 sq. ft. These units come with four spacious bedrooms, four bathrooms, a large living area, a maid’s room and a balcony or a terrace.

Most Popular Apartment Types in Al Waleed Paradise

  • Studio
  • 1-Bed
  • 2-Bed
  • 3-Bed
  • 4-Bed
  • 0
  • 20%
  • 40%
  • 60%
  • 80%100%

Based on searches conducted by users on Bayut.com over the past 12 months

According to the searches on Bayut, 1-bedroom apartments are the most searched apartments. Studios and 3-bedroom apartments rank second and third, respectively. Completing the list are the 2 and 4-bedroom apartments taking the fourth and fifth positions, respectively.

Rental Trends in Al Waleed Paradise

The tower’s proximity to popular neighbourhoods such as Dubai Marina and Palm Jumeirah makes it a popular option when it comes to considering JLT apartments for rent.

Apartments for rent in Al Waleed Paradise come with the following prices:

  • 1-bedroom apartments come with a rental price of AED 54.9k to AED 70k per annum
  • The rental price of 2-bedroom apartments in Al Waleed Paradise ranges between AED 75k and AED 100k annually
  • Families looking for spacious 3-bed apartments can lease them at a price of AED 109k to AED 110k per year
  • 4-bed flats have a rental price between AED 130k to AED 135k

Just like other apartments in JLT, rent for apartments is paid annually in multiple cheques.

Sale Trends in Al Waleed Paradise

Apartments for sale in Al Waleed Paradise vary in size, location and amenities. The building is freehold which makes it equally popular among both locals and expats looking for JLT apartments for sale.

  • One can purchase studio apartments at a price ranging between AED 400k to AED 600k
  • 1-bedroom apartments come with a sale price from AED 470k to AED 699k
  • 2-bedroom apartments can be bought for a sale price ranging between AED 900k to AED 1.1M
  • The average sale price for 4-bedroom apartments is AED 1.5M

Rental Yield in Al Waleed Paradise

  • Studio
  • 1-Bed
  • 2-Bed
  • 3-Bed
  • 4-Bed
  • 0
  • 2%
  • 4%
  • 6%
  • 8%10%

Based on searches conducted by users on Bayut.com over the past 12 months

Investors can expect high rental yields for apartments in Al Waleed Paradise Tower, JLT. 1-bedroom flats are ranked first with an ROI of 8.4%. 2-bed apartments have the second-highest ROI of 6.7%, followed by 4-beds with an ROI rate of 6.53%. 3-beds and studios round up the list with an ROI of 6.49% and 6.4%, respectively.

Service Charges in Al Waleed Paradise

General Fund
Price Per Sq. Ft. In AED
General Fund
Services
General upkeep of the building
Price Per Sq. Ft. In AED
2.24
General Fund
Maintenance
General repairs and replacements
Price Per Sq. Ft. In AED
2.10
General Fund
Utilities Services
Charges for using DEWA/district cooling facilities and meters
Price Per Sq. Ft. In AED
3.58
General Fund
Management Services
Owner’s association charges for managing the property
Price Per Sq. Ft. In AED
0.65
General Fund
Insurance
Charge for the insurance of the building
Price Per Sq. Ft. In AED
0.49
General Fund
Master Community
Fees for communal facilities in the neighbourhood
Price Per Sq. Ft. In AED
2.93
General Fund
Reserved Fund
Funds used for major repairs and to help maintain the yearly service charges fees
Price Per Sq. Ft. In AED
0.65
General Fund
Adjustment
The difference between the estimated amount charged the previous year vs the actual amount spent
Price Per Sq. Ft. In AED
-0.91
General Fund
Total
Price Per Sq. Ft. In AED
11.73

These figures are based on the services charges for Al Waleed Paradise * as per the Dubai Land Department.

There are many different types of Dubai service charges, read up on the service charges guide if you are interested in buying a property in Dubai.

*These charges are subject to change.

NEARBY AMENITIES

Transportation near Al Waleed Paradise

One of the distinctive features of Al Waleed Paradise is its easy accessibility to public transportation. Metro stations are available at a few minutes’ walk. As for commuting through buses and trams, one may have to use a car to reach the nearest station.

Bus Stations near Al Waleed Paradise

The nearest bus station is JLT, Tiffany Tower Bus station, located a 5-minute drive away. Whereas JLT, Saba 1 Bus station is reachable in 8-minute, by car.

Metro Stations near Al Waleed Paradise

DAMAC Properties Metro station is reachable in 8-minute, on foot. DMCC Metro Station 1 is another option situated at a drive of 11-minute.

Tram Stations near Al Waleed Paradise

Jumeirah Beach Residence 2 Tram Station and DMCC Tram Station are the closest tram stations at a 13-minute drive.

Restaurants near Al Waleed Paradise

There are many restaurants near Al Waleed Paradise, such as:

  • Wokyo Noodles Bar
  • The Cheesecake Factory
  • Farsi Restaurant

Wokyo Noodles Bar, one of the best restaurants in JLT, is 4-minute away and offers Asian, Japanese and Chinese Food. If you are looking for American cuisine with Desserts and Salads, The Cheesecake Factory is the ideal place to visit. Farsi Restaurant is a 6-minute drive away and serves Kebab and Iranian Food.

The fine dining restaurants include:

  • Nais Italian Kitchen
  • Toro Toro
  • Indego By Vineet

Nais Italian Kitchen offers Pizza and Italian food. This fine-dining restaurant is located at a distance of 6-minute. Toro Toro, which is 11-minute away from the tower, serves Latin American food. Indego By Vineet is a North Indian Restaurant accessible within 13-minute.  

Supermarkets near Al Waleed Paradise Tower

The area surrounding Al Waleed Paradise is dotted with a number of supermarkets and grocery stores, such as: 

  • West Zone Fresh Supermarket
  • Carrefour Supermarket
  • ZOOM Supermarket
  • Fresh Berry Supermarket

West Zone Supermarket is 4-minute away and is popular for its organic products. Fresh Berry Supermarket is located at a 6-minute distance. Whereas ZOOM Supermarket and Carrefour Supermarket are 8-minute away.

NEARBY BUILDINGS

  • Al Seef Tower 3 – Residential Building
  • Concorde Tower – Mixed-use Building
  • Lake City Tower – Residential Building
  • Jumeirah Bay X2 – Commercial Building
  • Preatoni Tower – Residential Building

Al Seef Tower 3 is one of the nearest buildings located at a 9-minute walking distance. Lake City Tower and Concorde Tower are reachable in 8-minute, by car.

Major Landmarks

JLT Park view
Jumeirah Lake Tower Park is 4-minute drive away

Located in the Cluster R of JLT, the building stands amidst many well-known landmarks including:

  • Jumeirah Lake Towers Park
  • Ski Dubai
  • Dubai Marina Walk

Jumeirah Lakes Tower Park is a popular landmark among people living in JLT located at walking distance from the tower. Dubai Marina Walk is a famous promenade lined with palm trees located 9-minute away. Ski Dubai is situated at a distance of 12.3 km and is an ideal place to beat the scorching heat of Dubai.

THINGS TO CONSIDER

Al Waleed Paradise offers a boast of apartment types with all the necessary amenities. Also, the building is situated at walking distance from the nearest metro station. However, people looking to commute through tram may have to travel a little to find the nearest station. Also, the area has had some traffic issues in the past but this has been significantly resolved with recent changes in the roads.

Are you looking to buy or rent apartments in Al Waleed Paradise Tower?

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