Golden Mile is a residential property made of 10 towers. This anticipated project maximizes modern lifestyle with it’s retail center and restaurants. It’s developed by IFA Hotels and Resorts. This development is located at the western trunk of Palm Jumeirah and is presently managed by Nakheel Properties, a leading real estate company.
This location provides comfort to residents and travelers who want to be close to Dubai Marina and Downtown Dubai. Golden Mile can also be reached easily for those who are coming from Abu Dhabi. Apart from many apartments, 70 commercial properties consisting of offices and shops are present. 10 mid-rise and 11-storey buildings are available. This development includes a Golden Mile Galleria and a community center.
Parking space
Parking is not a problem in Golden Mile. There is a dedicated parking spot in the basement for residents which offers 1,600 underground spaces. Street parking is also given next to the complex.
Security, air conditioner and maintenance
24 hours security and CCTV cameras are guaranteed. All the floors and apartments are properly maintained. Their temperature is controlled by the Empower district cooling service. Many high-speed elevators are offered.
Fitness facilities
An access to the clubhouse with private membership is given to the residents. A swimming pool, gym, Jacuzzi, spa and sauna are available in Golden Mile. Moreover, the sculpted garden is perfect for a stroll.
Lifestyle Amenities
Residents are offered lots of lifestyle amenities such as a children’s play area, BBQ areas, and retail centre inside the complex. Moreover, Golden Mile Galleria is a big highlight displaying a fitness center, international restaurants, 2 nurseries, Spinney’s supermarket, and a medical clinic.
Guest and concierge services
A 24 hours concierge service is given to the residents. Guests or first time visitors can talk through an intercom and wait in the lobby.
Floor plans in Golden Mile
There are two types of units on a standard floor: duplex and premium. You can view their floor plans in detail on the internet or by seeing it in person.
Types of apartments
There are 178 apartments in the development. These come with 1 to 3 bedroom configurations and penthouses. Upscale fittings and sophisticated interior is observed in all exclusive properties of Golden Mile. Some of the features are rain showers, Jacuzzi tubs and walk-in closet. All properties display ceramic floors and double glazed windows.
95% occupancy is reported in the complex whereas many properties are still available for sale or rent. Moreover, there are 2-storey townhouses offered too.
Single bedroom apartments
1 bedroom apartment flats have a floor plan from 1,098 square feet to 1,109 square feet. This space consists of a living hall, a master bedroom, a poise kitchen, en-suite bathroom and more. Moreover, all properties come with a huge balcony. These units are perfect for people searching for apartments with sea views.
2 bedrooms apartments
2 bedroom apartment flats in Golden Mile have a floor plan ranging from 1,540 square feet to 1,572 square feet. These measurements exclude the balcony. 2 big bedrooms with en-suite bathrooms, an open or closed kitchen and a living hall linked to the balcony are added in this property. The kitchens come with already installed appliances. High quality products are added in the bathrooms.
3 bedrooms apartments
The 3 bedroom apartment flats have a floor plan ranging from 2,034 square feet to 3,144 square feet. There is a living hall, a balcony, 3 huge bedrooms and a kitchen in the floor plan. Similar to other units in the development, this one also comes with additional storage space and built-in wardrobes.
Penthouses
Floor plan of the penthouses is 5,300 square feet. Some penthouses are 2-storey with a starlit terrace. Other features, fittings and amenities are the same.
Most famous apartments
Single bedroom apartments are the most famous, followed by 2 bedroom and 3 bedroom apartments.
Yearly Rental trend
- Rent for single bedroom apartment is AED 57k to AED 99k
- Rent for 2 bedroom apartment is AED 120k to AED 135k
- Rent for 3 bedroom apartment is AED 200k
Sale trend
As compared to other properties, the cost of Golden Mile apartments is not that high.
- Sale price for single bedroom apartment is AED 1.22 million to AED 1.4 million
- Sale price for 2 bedroom apartment is AED 1.4 million to AED 1.7 million
- Sale price for a 3 bedroom apartment is AED 2.37 million to AED 3 million
ROI
A 2 bedroom apartment generates the highest ROI, 7.5%. Afterwards, a single bedroom apartment generates 7.4% ROI and a 3 bedroom apartment generates 6.9% ROI.
Service Charges
The service charges according to the Dubai Land Department for Golden Mile are listed below. Note that prices are recorded per square feet in AED.
- Services (General fund): 2.42
- Maintenance: 1.85
- Utilities services: 6.86
- Management services: 1.09
- Insurance: 0.18
- Master Community: 0.88
- Total rate: 13.28
Transportation
Golden Mile is situated at the western trunk where the monorail link initiates. This offers a commute to Atlantis to their homes.
Restaurants
Lots of fine dining and casual eating options are available in The Palm. For instance, Shakespeare and Co and Burger Fuel. Some cafes are Breeze Beach Grill and The Coffee Club.
Grocery stores
A Spinney’s outlet is situated in the Golden Mile. Nearby the community, Manual, Tiara Residence and All-day fresh supermarket are available.
Nearby places
The popular buildings near Golden Mile are Marina Residence, The Fairmont Palm South Residence and Palma Residences.
Landmarks
Golden Mile itself is a famous landmark due to its retail center. It is close to Atlantis hotel, Five Palm Jumeirah and Fairmont Palm. Moreover, family friendly leisure spots are available. For instance, The Lost Chambers Aquarium and Aquaventure. It is only 11 minutes away.
Summing it up
Owing to the existing construction, it is difficult to buy an apartment that provides the stunning views of Dubai Marina or the beach. But the residential units in the complex are way more affordable. There are well planned properties for investors and home seekers in Palm Jumeirah.
