It’s not just another new luxury tower in Dubai’s famed high-rise neighbourhood. The elegantly designed Marina Arcade incorporates a number of aspirational amenities, which its developer believes will distinguish it from the pack. The residential tower houses 280 apartments ranging from one- to four-bedders, as well as triplex apartments and palatial penthouses with private pool and terrace. Residents have access to sky gardens with terrace and whirlpools. The tower also boasts one of the largest fully fitted multipurpose halls for community activities, with a kitchenette for parties and large TVs.
Residents also enjoy genuine peace and quiet, as the developer has employed French experts, Technal, to ensure solid sound proofing of all apartments and common areas.
“We are very proud of our amenity offerings, but the star is the gym, which is over 6,000 sq ft, making it the biggest gym of all residential towers in Dubai Marina,” says Abdulaziz Al Awar, chairman of Mada’in Properties, the developer of Marina Arcade. “We have dedicated areas for men and women, with some absolutely world-class equipment and a steam and sauna section, as well as plush changing rooms.”
Aspirational experience
Marina Arcade stands 180m and 47 floors high in the entrance area of the Dubai Marina, allowing not only for sweeping views of the marina, Dubai Media City and the sea, but also quick access to Shaikh Zayed Road Interchange 5.
There are 366 parking spaces — one- and two-bedroom apartments are allotted one slot each, while three- and four-bedroom apartments are provided two each. Special allocations have been made for the handicapped and valet parking is at hand 24/7. There is also 24-hour concierge service, while amenities include a jogging track, pool, table tennis and snooker areas, pool and gym.
“An interactive indoor kids play area and special lounges also add to the aspirational living experience,” adds Al Awar.
Italian architect and interior designer Matteo Nunziati went for the stylish and sophisticated look his country is known for. The units feature fitted kitchens with Bosh white goods.
Safety
The developer has also made sure to comply with Dubai’s fire safety standards in terms of cladding, and has also integrated fire stops to increase the resistance of its building. The tower runs its own chillers for cooling, increasing energy efficiency and lowering long-term costs for residents. An Emaar facility management subsidiary supervises maintenance, according to Al Awar.
“Cooling charges are included in the service fees making this significantly lesser than the independently paid for district cooling and, therefore, is of great benefit for the residents,” says Al Awar.
Value for money
More than 70 apartments at Marina Arcade have already found residents and more homeowners are expected to move in before year end. There are also a number of tenants as the developer has retained some units for its leasing portfolio. However, the tenants can choose to eventually become homeowners, using part of the rent as payment.
“End users, who are currently paying at least Dh140,000 rent yearly, can convert their rent into equated monthly instalments,” says Al Awar. “We are confident all units will be sold within this year. As with any high-end Dubai property, the buyers represent a mix of investors and end users, and come from diverse geographic and ethnic backgrounds.
“They all have one thing in common — an aspiration to own or live in an awe-inspiring tower with breathtakingly beautiful apartments and excellent amenities that embellish their lifestyle.”
The apartments were initially offered with prices starting at Dh1.6 million for a one-bedder; current prices now start at Dh2.1 million.
“The price per square foot varies depending upon the apartment configuration and floor location, but we are very competitive with the prevailing market rates,” says Al Awar. “In fact, customers get far greater value for money at Marina Arcade than elsewhere due to its superior-quality finish, designer lobby, superb amenities, higher-quality maintenance and five-star hospitality everyday living.”
The developer has worked out a payment plan, requiring 50 per cent to be paid on possession and the other half over five years, working out at 2.5 per cent every quarter.
“We have also tied up with the UAE’s top banks for quick and easy loan processing with a 75:25 finance ratio,” says Al Awar.
The future
The raison d’être for the name of the tower becomes obvious looking ahead. “The name Marina Arcade reflects the composite community of residential towers and the retail arcade,” reveals Al Awar. “The original master plan of the development included a 30,000-sq-ft retail arcade, which is scheduled to go into build-up in a few months.”
