Park Towers, DIFC
HIGHLIGHTS
About Park Towers
Park Towers is a mixed-use complex located along Sheikh Zayed Road (E11) in DIFC. Developed by DAMAC Properties, the complex features two high-rise buildings with apartments, offices and shops for rent and sale. Each building has 49 floors, seven of which are designated for offices, while residential units begin from the 12th floor upwards. The podium level consists of parking spots as well as retail spaces.
With a height of 120 metres (393.701 ft.) each, the two buildings are instantly recognisable in the DIFC area. In fact, the complex was named the ‘Best Mixed-Use Development in the World.’ The project commenced in 2004 and was completed in 2011. On the residential side, one can choose between studio, 1, 2 and 3-bedroom apartments. Each apartment has a huge balcony that overlooks the neighbourhood with its parks, cafes and recreational facilities.
On the commercial side, Park Towers has a business centre featuring state-of-the-art office facilities along with cafes, eateries and retail shops. Business owners can choose between shell-and-core units as well as fully fitted offices in the complex.
IN A NUTSHELL
- Type of building: Mixed-use
- Location: DIFC
- Developer: DAMAC Properties
- Date of completion: 2011
- Number of floors: 49
- Unit type: Studios, 1 to 3-bedroom apartments, offices and shops
- Type of Ownership: Freehold
- Amenities: Gym, swimming pool, meeting rooms, banquet hall, coffee shops, restaurants, shopping boulevards and sports facilities
BUILDING DETAILS
Facilities in Park Towers
Parking
To begin with, you will find basement parking in Park Towers. Tenants/owners get at least one parking spot with their apartment/office. Street parking is also available next to the building.
Elevators
High-speed elevators in Park Towers provide quick and convenient access to all floors.
Security, Central Air-Conditioning and Maintenance Services
Moving on, the building gets 24-hour security along with CCTV monitoring. Moreover, on-site maintenance is provided without any additional charges. The complex also gets district cooling from Empower.
Event Space
Event space in Park Towers includes a banquet hall and a meeting room for parties, special occasions and business meetings.
Gym and Fitness Facilities
Residents can keep fit at the fully equipped gym in Park Towers.
Lifestyle Amenities
Among lifestyle amenities, there’s a large, indoor swimming pool, along with landscaped gardens and sports facilities at the podium level.
Concierge and Guest Services
There is a 24-hour front desk to assist residents and visitors alike in the complex. Not to mention, visitors are welcomed with an exquisitely designed lobby.
Pet-Friendly
Pets are not allowed in the complex.
Park Towers Floor Plans
Bayut has worked on creating a simple format for 2D and 3D floor plans on the website. You can easily find the unit type and bed type you’re interested in by browsing Park Towers floor plans.
Apartment Types in Park Towers DIFC
Interested buyers and tenants will find studio, 1, 2 and 3-bedroom apartment types in Park Towers, DIFC.
Studio Apartments in Park Towers DIFC
Covered areas for studio apartments in Park Towers DIFC range from 415 sq. ft to 520 sq. ft. The studios come with a bathroom and a fully fitted kitchen. The balcony provides amazing views of Zabeel Palace, DIFC and Downtown Dubai.
1-Bedroom Apartments in Park Towers Dubai International Financial Centre
Covered areas for 1-bedroom apartments in Park Towers Dubai International Financial Centre range from 600 sq. ft to 1,022 sq. ft. One-bed units in the building comprise one master, ensuite bedroom, along with a guest washroom. There’s a fully fitted kitchen leading to the living area. The balcony provides amazing views of the neighbourhood.
2-Bedroom Apartments in Park Towers Dubai International Financial Centre
Covered areas for 2-bedroom apartments in Park Towers Dubai International Financial Centre range from 894 sq. ft. to 2,150 sq. ft. These comprise two ensuite bedrooms along with a guest washroom. There’s a fully equipped kitchen, a spacious living area and a balcony that provides views of DIFC and Zabeel Palace.
3-Bedroom Apartments in Park Towers DIFC Dubai
Moving on, 3-bedroom apartments in Park Towers DIFC Dubai have covered areas ranging from 1,800 sq. ft. to 3,200 sq. ft. These spacious units comprise three ensuite bedrooms along with an additional bathroom. One also gets a maid’s/storeroom, equipped kitchen and balcony access.
Offices in DIFC Park Towers
Covered areas for offices in DIFC Park Towers range from 945 sq. ft. to 3,258 sq. ft. You can choose between shell-and-core units and fully-fitted, ready-to-move offices. You can also get partitioned offices in Park Towers. Office facilities in the building include shared bathrooms, high-speed internet access and a meeting room.
Shops in Park Towers Dubai International Financial Centre Dubai
Moving on, one can also buy and rent shops in Park Towers Dubai International Financial Centre Dubai with covered areas ranging from approximately 451 sq. ft. to 1,705 sq. ft. You can also find even more spacious retail units that come with a terrace. Even for shops, you can choose between shell-and-core and fully-fitted units.
Most Popular Apartment Types in DAMAC Park Towers
The most popular set of apartments in DAMAC Park Towers are 1-bedroom apartments. 2-bedroom apartments get the second spot. Studio apartments and 3-bedroom apartments are next in line in the third and fourth positions, respectively.
Rental Trends in DAMAC Park Towers
Prices for rental apartments in Park Towers are as follows:
- Renting a studio flat in DAMAC Park Towers will cost you around AED 60k per year
- Rental prices for 1-BHK flats in Park Towers DIFC range from AED 75k to AED 105k per year
- One can also rent 2-bedroom units in Park Towers from AED 95k to AED 135k per year
Prices are relatively higher considering the location of the building as well as the facilities provided to tenants. Overall, apartments for rent in DIFC appeal to renters particularly due to the area’s proximity to Downtown Dubai.
Prices for rental commercial units are as follows:
- Rental prices for offices in Park Towers DIFC range from AED 45k to a whopping AED 800k per year
- One can also rent shops in DAMACPark Towers from AED 45k to AED 185k per year
These rental prices likewise reflect overall property prices in DIFC.
Sales Trends in Park Towers by DAMAC
Prices for Park Towers apartments for sale are as follows:
- Studios for sale in Park Towers DIFC can cost you around AED 745k
- Sales prices for 1-bedroom flats in Park Towers range from AED 940k to AED 1.6M
- One can also buy 2-BHK flats in Park Towers for AED 1.64M to AED 2.5M
- 3-bedroom apartments for sale in Park Towers are upwards of AED 2.25M
These prices are also on the high-end of the real estate spectrum. This is true for DIFC apartments for sale in general.
Sales prices for commercial units in Park Towers are as follows:
- One can buy offices in Park Towers for somewhere between AED 3.11M and AED 8.08M
- Prices for shops in Park Towers range from AED 299k to AED 6M
Prices range according to the covered area as well as the features offered.
Rental Yield in Park Towers
All apartment types in Park Towers generate a good annual return through rent, and so are attractive investment prospects. The expected annual return for 2-bedroom apartments is about 7.5% of the total investment. 1-bedroom apartments yield about 6.9%. 3-bedroom and studio apartments generate average annual returns of about 4.2% and 1.5%, respectively.
NEARBY AMENITIES
Transportation near Park Towers
Part of the attraction of living or working in the complex is the availability of public transportation near Park Towers.
Taxis are also available in the area, but finding one can be a challenge during rush hour. Those who drive can reach places like Downtown Dubai and Dubai International Airport in less than 15 minutes. Access to E11 makes commuting to other areas of Dubai easier.
Bus Stations near Park Towers
There are several bus lines that operate in and near DIFC, such as 27, 29 and X22. The nearest bus stop is located a minute away at Zabeel.
Metro Stations near Park Towers
Those relying on Dubai Metro to commute around will find Park Towers DIFC’s location quite convenient. One can reach the Financial Centre Metro Station within 15 minutes by walk. Other stations are located at Emirates Towers, World Trade Centre and Dubai Mall at a 7-minute drive.
Restaurants near Park Towers
In terms of amenities, residents are never far from dining places. In fact, one can find eateries and cafes inside the complex. Chalco’s Mexican Grill, for instance, is located on P4 inside Park Towers. The restaurant offers authentic Mexican food with spacious indoor seating.
If you want a mix of casual and fine dining experiences, then there are plenty of restaurants in DIFC for you to try out. Some restaurants near Park Towers include:
- Crab Market Restaurant & Lounge
- KIZA Restaurant & Lounge
- Al Safadi Restaurant
Located within a 5-minute distance from the complex, these restaurants offer different cuisines, such as Italian, Lebanese and African.
Cafes near the buildings include Caribou Coffee, Pacifico, Mercato, Caffe Nero, Bateel and Costa Coffee.
Supermarkets near Park Towers
One can also find several grocery stores and supermarkets in Dubai near the complex. For instance, the BS Supermarket is located within the towers, which means you don’t have to go far for daily shopping.
Other supermarkets near Park Towers include:
- Spinneys
- Choithrams
- Al Maya Supermarket
These supermarkets are located within walking distance from the complex.
Schools and Nurseries near Park Towers
Within a 15-minute drive, families can send their children to ‘Very Good’ to ‘Outstanding’ rated schools such as:
- Jumeira Baccalaureate School
- Jumeirah English Speaking School
Jumeira Baccalaureate School (JBS) follows the International Baccalaureate (IB) curriculum from Pre-KG until Grade 12. The school is a project of Taleem and is known for offering top-notch academic and non-academic facilities to students.
Jumeirah English Speaking School in Al Safa offers the British curriculum from Foundation Stage and Primary classes to students aged 3 to 11 years. Students graduating from here are transferred to JESS Arabian Ranches for Year 7 until Year 13.
Popular nurseries like Best Kidz Nursery and Hummingbird Nursery are within a 5-minute walking distance of the complex.
Nearby Buildings
Popular buildings near Park Towers are just 5 minutes away if walking. The list includes:
- Emirates Financial Towers
- Index Tower
- Liberty House
Emirates Financial Towers is a high-rise complex featuring North and South Towers. Once can find fitted and shell-and-core offices in the towers.
On the other hand, Index Tower is an 80-storey skyscraper offering commercial units and 1 to 3-bedroom luxurious apartments. The tower offers outstanding facilities for residents.
Liberty House is another mixed-use high-rise tower with 42 floors. It offers a combination of offices and retail outlets, and studios to 2-bedroom spacious flats.
Major Landmarks
One of the upsides of living in DIFC is being close to several top tourist attractions in Dubai. From the world’s tallest tower to dancing fountains, you can enjoy a visit to:
- Burj Khalifa
- Dubai Fountain
- Dubai Mall
Known as the ‘Centre of Now’, Burj Khalifa is partially responsible for putting Dubai on the world’s map. The tallest tower in the world stands 828 metres above the ground.
Right next to Burj Khalifa is The Dubai Fountain. Tourists and residents can enjoy outstanding choreographed water fountain performances. For an extra cost, you can also take the Dubai Fountain ride.
Sharing the same neighbourhood is Dubai Mall. A perfect place for you to enjoy shopping, various dining options and entertainment facilities – especially if you are visiting it for the first time.
THINGS TO CONSIDER
To sum up, Park Towers in DIFC offers residents, investors, professionals and business owners luxurious commercial and residential units. The building has several facilities and modern amenities. Availability of transportation and proximity to Downtown Dubai add to the mix. Of course, considering its location, tenants/owners living in DIFC have to face a lot of traffic congestion and noise pollution.
FAQs
Are there pubs and bars near Park Towers?
One can find Mint Leaf of London, La Veranda Pool Bar & Shisha and Long’s Bar near the complex.
Where is the nearest cinema from Park Towers?
3 minutes away by car, Reel Cinemas at Rove Hotel, Downtown is the nearest cinema from Park Towers.
RATINGS & REVIEWS
Reviews are not available currently for this building