Reef Residence, JVC

Reef Residence, JVC

HIGHLIGHTS

ABOUT REEF RESIDENCE

One of the latest developments in JVC, Reef Residence has been established by the Dubai-based private developer known as Reef Real Estate. This residential project was proposed in 2015 and materialised in 2017. There are 378 residences in this project which consist of studios, 1-bed flats and 2-bed apartments. Every property in Reef Residence has spacious layouts and lets in plenty of sunlight.

The building features two basement levels, three podium levels, a terrace level, 31 residential storeys and three service floors. In total there are 38 floors above ground. With six distinct sides, the tower resembles a hexagon from the top. This unique architecture allows 360-degree picturesque views of the city. Amenities in the building are designed to enhance the luxury residents seek. The leisure deck in the tower houses two swimming pools, a gym and spaces for barbecue. Additionally, residents have the convenience of reserved parking, an active maintenance team, high-speed lifts and 24-hour security. Sheikh Mohammed Bin Zayed Road can also easily be accessed from the building.

Reef Residence exterior facade
The 38-storey tower houses studios, 1 and 2-bed apartments

Jumeirah Village Circle (JVC) is a self-contained community and a family-friendly neighbourhood in Dubai. As per the Dubai Market Report for H1 2020, it is the most popular area for renting apartments in Dubai. It is also the third favourite neighbourhood for residential property investment behind Dubai Marina and Downtown Dubai. Those looking to buy flats in the city should consider investing in apartments for sale in JVC.

IN A NUTSHELL 

  • Developed by Reef Real Estate
  • Has 38 floors above ground
  • Features two basement levels and three levels dedicated to technical staff
  • Has a three-floor podium at the base 
  • The fourth floor on the podium roof is dedicated to recreational areas
  • 378 units of studios and 1 and 2-bedroom flats
  • Next to Sheikh Mohammed Bin Zayed Road (E311)
  • Close to Dubai International Stadium

BUILDING DETAILS

FACILITIES IN REEF RESIDENCE

Parking

There are two basement levels dedicated to parking in Reef Residence, JVC. There is one parking spot for each apartment but a few residences such as two-bedroom apartments come with two parking spaces

Elevators

Elevators in Reef Residence, Dubai are of two types, passenger lifts and service elevators. The four passenger lifts can be accessed by residents through the main lobby.

Security, Central Air-Conditioning and Maintenance Service

The building has round the clock security monitoring using the latest CCTV cameras. There are on-ground security officers available as well to cater to any emergencies. The maintenance of security facilities, along with the other amenities is overlooked by the maintenance team. The utilities to the building are provided by DEWA.

Event Space

The recreational deck area on the fourth floor of the podium features pits for barbeque parties

Gym and Fitness Facilities

Situated in the deck area on the podium’s roof, there is an expansive gym in Reef Residence. It is a well-lit area that has glass wall panels and multiple light fixtures hung from the ceiling. This fitness centre in the building features a broad range of exercise equipment, offering a number of ways for residents to workout. 

Lifestyle Amenities

Accessible on the fourth level, the podium roof or roof deck that wraps around the tower contains two swimming pools. One is a large pool for adults and the other is a small rectangular pool for kids. The area is landscaped, featuring pocket gardens, garden pebbles, grassy patches and palm trees. There is also a shower area near the swimming pool with six cabins.    

Concierge and Guest Services

The tower features a magnificent lobby with a front-desk and ample seating space. Guests can wait in the area for their hosts and enjoy the ambiance.

Safety Features 

As per the requirement of the government, the project incorporates the latest safety features to deal with fire hazards. There are dedicated fire exits, fire alarms and fire extinguishing equipment present for emergencies. 

REEF RESIDENCE FLOOR PLANS

  • Studio apartments in Reef Residence consist of six different unit types
  • 1-bedroom apartments in Reef Residence consist of four different unit types
  • 2-bedroom apartments in Reef Residence consist of two different unit types

The different types of floor plans for Reef Residence properties offer interested buyers and tenants a wider range of property options. These plans can be viewed in 2D and 3D formats on Bayut.

APARTMENT TYPES IN REEF RESIDENCE

The 378 residential units in Reef Residence are efficiently designed to maximise space and indoor brightness. There are 186 units of studios, 127 units of 1-bedroom flats and 65 units of 2-bedroom apartments.

Studio in Reef Residence

There are six types of studios in the tower, which either have a view of the city or the golf course. These studios come in various sizes, ranging from 468 sq. ft. to 527 sq. ft. The layouts of studio units include a bathroom that is near the entrance, followed by a little corridor that leads to the kitchenette and a hall. The kitchen comes with wooden cabinets and double-tiered countertops. Bathrooms in these units come with glass-door standing showers

1-bedroom Apartment in Reef Residence

1-bed flats in the building range between 803 sq. ft. and 926 sq. ft. The bedrooms have built-in wardrobes and en suite bathrooms. The kitchens in these units come with wall-fitted cabinets, electrical outlets and well-finished cabinets. The hall is expansive and has enough space for living and dining room furniture. There is also a guest bathroom in each apartment near the entrance.

2-bedroom Apartments in Reef Residence

2-bedroom apartments in the building have an area ranging from 1,536 sq. ft.  to 1,469 sq. ft. Both the bedrooms in the unit have wall-fitted closets and en suite bathrooms. The apartments also offer exquisite views of the community. The hall is large, airy and well-lit and leads to a fitted kitchen. Each unit also comes with a maid’s room which has an attached bathroom. An additional bathroom is also located in the  hall for guests.

MOST POPULAR APARTMENT TYPES IN REEF RESIDENCE

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

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

At the top of the list of most popular apartment types in the tower is the studio unit that accounts for 44.2% views. Representing 36.65% views, second in the list is the 1-bedroom apartment in Reef Residence. The larger 2-bedroom flats round up the list with 19.2% views.

The apartments for rent in Reef Residence are spacious and airy units which can be rented at affordable prices. Rent prices for each flat vary depending on the amenities and unit size.

Typically Reef Residency, rent is paid in four post-dated cheques, however, potential residents can discuss other options with the landlord.

Those looking to buy a residential property in the area will find Reef Residence apartments for sale a good option. The building is ideally located and provides excellent amenities to residents. Additionally, all units are spacious, well-lit and fitted with required facilities.

  • Studio units can be bought for prices ranging from AED 374k and AED 430k
  • The average price for 1-bed units in the building is AED 680k
  • 2-bed apartments in Reef Residence have sales prices ranging from AED 1.1M and AED 2.5M

RENTAL YIELD IN REEF RESIDENCE

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

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

1-bedroom flats in the building give an 8.5% return on investment (ROI). The next most profitable property to invest in is a studio, which can yield 8.2% ROI. Last, on the list, 2-bedroom units give an ROI of 7.4%.

Service Charges in Reef Residence

General Fund
Price Per Sq. Ft. In AED
General Fund
Services
General upkeep of the building
Price Per Sq. Ft. In AED
1.50
General Fund
Maintenance
General repairs and replacements
Price Per Sq. Ft. In AED
2.22
General Fund
Utilities Services
arges for using DEWA/district cooling facilities and meters
Price Per Sq. Ft. In AED
6.69
General Fund
Management Services
Owner’s association charges for managing the property
Price Per Sq. Ft. In AED
1.12
General Fund
Insurance
Charge for the insurance of the building
Price Per Sq. Ft. In AED
0.26
General Fund
Master Community
Fees for communal facilities in the neighbourhood
Price Per Sq. Ft. In AED
0.61
General Fund
Reserved Fund
Funds used for major repairs and to help maintain the yearly service charges fees
Price Per Sq. Ft. In AED
1.00
General Fund
Adjustment
The difference between the estimated amount charged the previous year vs the actual amount spent
Price Per Sq. Ft. In AED
-0.05
General Fund
Total
Price Per Sq. Ft. In AED
13.35

These figures are based on the services charges for Reef Residence* as per the Dubai Land Department.

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

*These charges are subject to change.

NEARBY AMENITIES

TRANSPORTATION NEAR REEF RESIDENCE

The tower is located close to Sheikh Mohammed Bin Zayed Road. Residents with personal cars can easily travel to other areas in the city. The other major route nearby is Al Khail Road.

Bus Stations near Reef Residence

To catch a bus, people who rely on public transport near Reef Residence, JVC can walk to JVC – Westar Vista Apartments 1 bus station. It is accessible in 3 minutes on foot. If one walks towards the west, they will be able to access JVC – Al Wazzan Tower 1 bus stop after a 5-minute walk. The Shoba Daffodil Apartments 1 stop is located at a 9-minute walk from the building.

Metro Stations near Reef Residence

The nearest metro station to the building is the First Abu Dhabi Bank station located at a 14-minute drive from the building. Other Red Line stations nearby include Mall of the Emirates station and Sharaf DG Metro Station Landside located 15 and 16 minutes away respectively.

Tram Stations near Reef Residence

Tram stations are located within a 20-minute drive from the building. Jumeirah Beach Residence 2 and Palm Jumeirah stops are located at an average drive of 19 minutes. Dubai Marina Mall stop can be reached in 20 minutes via car.

RESTAURANTS NEAR REEF RESIDENCE

The dining options near the building include:

  • Desert Wok Restaurant
  • Lokmat Baladna
  • Marmarita

Several casual dining restaurants can be found near the building which also offer delivery services. The nearest establishment to the building is Desert Wok Restaurant, a Chinese eatery located at a 6-minute walk. For Lebanese dishes, residents can head to Lokmat Baladna or Marmarita both located 12 minutes away on foot. Marmarita is quite popular among restaurants in JVC for its authentic Lebanese taste.

Fast-food restaurants near Al Reef Residence include:

  • KFC
  • Popeyes 
  • McDonald’s

The famous fried chicken chain, KFC is located at a 7-minute drive. Located next to each other, Popeyes and McDonald’s are accessible after a drive of 6 minutes. Others fast-food chains like Hardees and Wendy’s can be found in Motor City, accessible in 14 minutes.  

Fine-dining restaurants near Al Reef Residence, JVC are:

  • Celebrities
  • Rhodes W1
  • The Cavendish Restaurant

Those looking for more upscale restaurants can head to Celebrities located at a 17-minute drive. The restaurant offers a European cuisine and facilities such as valet parking and wheelchair access. Rhodes W1 is a British establishment located at a driving distance of 18 minutes. Residents can also visit The Cavendish Restaurant in Jumeirah Lake Towers. The restaurant offers British, Irish and Mediterannean flavours which can be enjoyed both indoors and outdoors.

SUPERMARKETS NEAR REEF RESIDENCE

Supermarkets near Reef Residence include:

  • West Zone Fresh Supermarket
  • Spinneys
  • Holiday Minimart

Spinneys is a major supermarket chain in Dubai with multiple outlets in each neighbourhood of Dubai. The nearest Spinneys to the building is located at a 4-minute walk and offers a range of grocery options. Holiday Minimart and West Zone Fresh Supermarket are two other options located at a 10-minute walk each.

NEARBY BUILDINGS

  • Westar Vista
  • Oxford Residence
  • Al Waleed Residence

JVC has a large number of residential properties, which help build a family-friendly community around Reef Residence. The nearest apartment building is Westar Vista located at a 3-minute walk. Oxford Residenceis another residential project located nearby at a 49minute walk. Residents can also walk to Al Waleed Residence in 6 minutes.

MAJOR LANDMARKS NEAR REEF RESIDENCE

These are the nearby attractions:

floral clock in Dubai Miracle Garden
Floral clock is one of the popular displays in the Dubai Miracle Garden

TheDubai International Stadium which hosts cricket matches is located at a 13-minute drive from the building. Other leisure spots near Reef Residence include Dubai Miracle Garden which is located 13 minutes away and Dubai Autodrome which is almost 15 minutes away. 

THINGS TO CONSIDER

Freehold and rental apartments in Reef Residence, Dubai have garnered a lot of interest among investors and potential tenants, respectively. However, since the building is brand new, the newly hired management may need a little push at times with the maintenance work in the building. Those who wish to settle in the community can find other options for apartments for rent in JVC.

Are you looking to buy or rent apartments in Reef Residence?

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