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Palace Tower 1 Silicon Oasis

Palace Tower 1 Silicon Oasis

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Silicon Oasis, Dubai

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Strengths

Modern Architectural Design

Proximity to Amenities

Secure Environment

Weakens

Limited Parking Space

Higher Maintenance Fees

Occasional Noise Issues

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Buildign Overview

Summary

  • Palace Tower 1 is a distinguished residential building located in the thriving Silicon Oasis community, known for its blend of modern living and technological innovation.
  • The building is strategically situated near essential facilities, including shopping centers, educational institutions, and recreational parks.
  • It offers residents easy access to public transportation, connecting them to major areas of Dubai, alongside nearby landmarks such as Dubai Silicon Oasis HQ and various tech parks.

Properties Overview

  • The building features a variety of residential units, including spacious apartments that cater to both renters and buyers.
  • Popular unit types include 1-bedroom, 2-bedroom, and luxury penthouses, providing options to meet diverse needs.
  • Rental prices typically range from AED 40,000 to AED 80,000 annually, while sale prices may vary from AED 800,000 to AED 1.5 million, depending on the unit features and floor location.

Market Trends

  • Recent trends indicate a steady increase in both rental and sales prices, with rentals experiencing a 5% rise and property sales up by 8% over the past year.
  • Investors can expect a return on investment (ROI) averaging around 7%, making it an attractive choice for property investment.
  • Looking ahead, the market is predicted to continue its upward trajectory, driven by ongoing developments in the surrounding area.

Living and Investing in the Building

Amenities, Schools, and Healthcare

  • Residents benefit from close proximity to essential services, including well-known supermarkets, international schools, and various healthcare facilities such as clinics and hospitals.

Transportation and Accessibility

  • Palace Tower 1 enjoys excellent connectivity via public transport, with bus stops and a planned metro line nearby.
  • Ample parking spaces are available for residents with vehicles, ensuring easy access to transportation routes throughout Dubai.

Lifestyle Amenities

  • The building boasts an array of lifestyle amenities, including a well-equipped gym, swimming pools, and nearby restaurants and cafes.
  • Outdoor activities are readily accessible with parks and recreational spots within walking distance, catering to active lifestyles.

Builing Facilities

  • State-of-the-art facilities include high-speed elevators, 24/7 security services, central air conditioning, and professional maintenance support.
  • Well-maintained common areas enhance the living experience for residents, providing a welcoming atmosphere.

Special Services

  • Palace Tower 1 offers unique services such as concierge support, guest services for visitors, and business center access for professionals and remote workers.

Planning Your Move or Investment

Floor Plans and Property Types

  • A variety of floor plans are available, catering to different lifestyles, from compact studio apartments to expansive multi-bedroom units.
  • These plans are designed to maximize space and comfort, appealing to both families and singles.

Things to Consider

  • When considering a move or investment, potential residents should evaluate the cost of living, proximity to work or school, and the community environment.
  • It's also essential to assess the building's overall conditions and amenities offered.

Useful FAQs and Support

Events and Building Life

Building Events

  • Palace Tower 1 fosters a vibrant community life with regular events such as social gatherings, holiday celebrations, and fitness classes.
  • These activities provide opportunities for residents to connect and build relationships within the community.

Community Identity

  • The building is recognized for its modern design and focus on sustainability, drawing attention from professionals and families alike.
  • Palace Tower 1 has cultivated a sense of community pride, acting as a cultural hub within Silicon Oasis.

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Detailed Buiding Insights

1. Family Friendliness

The community is generally family-friendly, with several amenities that cater to children, but there are a few areas that could be more dedicated to family activities.

Moderately Welcoming

2. Living Options

Offers a range of living options including spacious apartments and modern layouts that accommodate various family sizes and preferences.

Diverse Selection

3. Safety And Security

Security measures in place are impressive, with controlled access points and regular patrols, making residents feel very safe.

Highly Secure

4. Transportation

Public transport options are adequate, with bus services nearby; however, access to metro connections requires a bit of travel.

Conveniently Accessible

5. Amenities And Facilities

The amenities include a gym, swimming pool, and communal areas which are well maintained, providing a good lifestyle for residents.

Well-Equipped

6. Cost Of Living

While the cost of living is reasonable relative to neighboring areas, it can still be considered a bit high for certain apartment units.

Affordable Yet Competitive

7. Things To Do

Local attractions and activities are decent but could benefit from more diverse options for entertainment and community events.

Moderately Engaging

8. Noise Levels

The area tends to be quiet during the evenings, although some noise from surrounding traffic can be occasionally heard.

Generally Quiet

9. Pet Friendliness

Most residents are pet owners, and the community has pet-friendly policies and areas, although some restrictions apply.

Accommodating

Schools

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Key Information

Developer:  Tameer Holding

Building Type: Commercial

Building Age: 15 years(Date of completion: 2009)

Length: 150 offices and 17 retail shops

Unit Types : Fully fitted, furnished and unfurnished offices

Floors: 27

Community Insights
Mostly apartments | Luxury | Well connected
Lowest: 135K - 260K AED/year

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