Introduction to Lake Terrace Tower

Do you want to buy a beautiful house? Are you considering making an investment in the real estate or conducting your business? If you’re looking for the information about Lake Terrace Tower, then you’re at the right place. The aim of this article is to introduce you to the building and to tell you everything you need to know about it, its location, units and prices.

First Impression Overview

The first impression about this building is very positive because this building perfectly fits into the landscape of JLT – it’s a tall glass-facade building strategically positioned to benefit from the artificial lakes, the community it’s named after.

What Makes Lake Terrace Tower Unique among Other JLT Towers

There are plenty of residential towers in Jumeirah Lakes Towers and, therefore, it makes sense for you to know what makes Lake Terrace Tower special. The factors are that this building is conveniently located in the middle of the cluster, it provides with water views from almost all units and it’s cheaper for this kind of real estate in comparison with new Marina buildings.

Location and Accessibility

Position within the JLT Cluster

It’s really easy to find Lake Terrace Tower in the cluster of JLT – the community known for its network of lakes. Being organized in alphabetical clusters, it’s really easy to find the particular building you’re looking for.

How Close is Lake Terrace Tower to Dubai Marina, Sheikh Zayed Road and Other Known Landmarks

There are many landmarks close to Jumeirah Lakes Towers – one of them is Dubai Marina with its charming beach and promenade; Sheikh Zayed Road is nearby and helps to reach Downtown, Business Bay and other business centers in short time.

How Convenient is the Accessibility via Public Transport

It will be good for you to know that the Red Line of metro passes by this community and allows to conveniently access the cluster from it. Besides, there are regular bus and taxi services in Jumeirah Lakes Towers.

Driving Time to Business Bay, DIFC, and Dubai International Airport

The driving time from Lake Terrace Tower to Business Bay and DIFC is approximately 20-25 minutes and to Dubai International Airport is 30-35 minutes in the off-peak period. Please note that these data are approximate and depend on the period of the day.

Architectural Design and Specifications of the Building

Exterior Design Style and Façade

As you know, the exterior design style in the buildings in Jumeirah Lakes Towers is glass and steel façade and Lake Terrace Tower is no exception – its façade is designed in a way to let the maximum of light into the interior.

Tower Height, Number of Floors and Building Structure

Lake Terrace Tower is a mid-to-high rise residential tower and its structure consists of residential units, ground floor parking and commercial space. As far as the numbers are concerned, the height and number of floors of the tower may change in time – that’s why you should ask the building manager for the current ones.

Lobby and Entrance Areas

When entering the building, you’ll find the reception area and controlled access to the building. The common areas of the building are usually decorated to the appropriate standard and need proper maintenance.

Types of Residential Units

Studio Apartments

If you’re a single person or you’re going to live in a comfortable and low-maintenance apartment, then you’ll be satisfied with the studio in this building. You’ll have a spacious unit where living and sleeping areas are united, kitchenette and bathroom.

One- and Two-Bedroom Apartments

If you’re going to live in this building with your family or friends or maybe have some additional space for the home office, then you’ll be satisfied with one- and two-bedroom apartments offering separate sleeping and living areas, additional space and balcony with the view on the lake.

Three-Bedroom and Other Apartments

There are also several larger three-bedroom apartments in some of the towers in JLT cluster – they’ll be perfect for the growing family or having a dedicated home office.

Typical Unit Size and Layout Effectiveness

All the layouts listed above are spacious and effective – they are open plans and, therefore, make rooms look even bigger. It’s worth noting that the size of the units may differ depending on the floor – that’s why you should clarify this point in the listing before purchasing the unit.

Amenities and Lifestyle Facilities

Pool and Sundeck

You’ll be able to swim or relax after your hard day at work because of the pool or sundeck in this address.

Gym or Fitness Center

It may turn out that you’ll have a fitness center at your disposal – it’s convenient for your regular workouts.

Shops and Retail Outlets at the Ground Floor

The ground floor of Lake Terrace Tower is occupied by various shops – cafés, convenience stores, salons and other shops – you’ll be able to go shopping in the vicinity.

Parking and Guest Access

Parking facilities in Jumeirah Lakes Towers are available to the residents and, what is important, there is parking for the guests as well. However, these details may differ from one building to another – that’s why you should find out whether there are parking facilities for the residents and guests in Lake Terrace Tower.

Lake Views and Community Setting

View on the JLT Artificial Lakes

The feature you’ll appreciate the most in Lake Terrace Tower is its view. Depending on the floor and orientation of your apartment, you’ll be able to enjoy the artificial lake of Jumeirah Lakes Towers each morning.

Landscaped Walkways and Waterfront Promenade

You’ll not only be able to enjoy the view from your balcony, but also to walk on the picturesque promenade around the lake.

Green Areas and Outdoor Activities in the Vicinity

Jumeirah Lakes Towers is known for its green areas and outdoor places for doing exercise, jogging, dog-walking and other activities.

Pricing and Market Value

Average Price of the Properties of Each Unit Type

The price of Lake Terrace Tower properties differs depending on the particular unit, its floor and market situation – that’s why any information about the price of a certain unit is valid for the certain period of time and may change later. Therefore, you should find out the current price on the listings website or with a local agent.

Price per Square Foot

In order to compare different units of various sizes, you should check the price per square foot statistic. Just like the total price, it may differ according to the general market situation and you should find out the current price.

Comparison with Other Neighboring JLT Towers

If you want to compare Lake Terrace Tower with other towers of the cluster, then you should consider such factors as the age of the building, views, service charges and amenities offered – they will help you to find out whether it’s more expensive than the others.

Information about the Rental Market

Average Monthly Rents for Studios, One-Bedroom and Two-Bedroom Units

As you have supposed, the price of renting the unit differs depending on the unit type, floor and presence of views – that’s why it varies greatly. Instead of stating the price of renting a certain unit that may become obsolete in time, it will be better for you to find out the current rental listing.

Rental Yield and Potential of Lake Terrace Tower for Investors

For the tenant, the rent price is the most important factor, but for the investor it’s usually better to check the rental yield showing the earnings potential of the investment. Traditionally, the rents in Jumeirah Lakes Towers are considered good for the investors due to the location, metro accessibility and views.

Resident Demographics and Market Demand Drivers

You’ll find out that the tenants of this part of JLT are young professionals and couples attracted by the affordable price and metro access.

Purchasing Process and Owner Details

Freehold Ownership Status in JLT

The most pleasing information for you if you plan to purchase a property is the fact that Jumeirah Lakes Towers is a freehold area – it means that everyone (including the foreigners) can own the property here.

Steps to Buying a Unit in Lake Terrace Tower

The process of purchasing the unit usually includes several steps – reservation of the unit, signing MOU, arranging the deposit, transferring the money through Dubai Land Department. During this process, you should cooperate with the licensed broker or lawyer.

Financial Side of the Property Purchase

The financial aspect of the transaction includes mortgage – that’s why you should consider the current mortgage interest rates in UAE, possibility of borrowing and required down payment.

Investment Potential and ROI Analysis

Historical Prices Increase of the Building

The historical prices increase of the particular building will be useful for your analysis of the investment potential, but the information you may find online may differ greatly from other sources and doesn’t guarantee anything about the future – that’s why you should use it only as the basis for your analysis

Factors Increasing the Long-Term Value of the Property

There are several factors that affect the value of the property: its everlasting appeal due to the lake views, good geographic location of the Jumeirah Lakes Towers between Dubai Marina and Sheikh Zayed Road, and investment in the infrastructure of the area.

Risks and Things to Consider before Investing

However, there are also some risks you should consider before investing in Lake Terrace Tower, such as increases in service charges, market cycles and age of the building.

Neighborhood and Surrounding Infrastructure

Schools and Nurseries

If you have children, you’ll be able to find many nurseries and schools offering curriculum suitable for expats in the vicinity of JLT.

Healthcare Facilities and Clinics

Healthcare is one more aspect of life in Dubai – there are clinics, pharmacies and hospitals in the community or just in the vicinity of it in Dubai Marina and Sheikh Zayed Road.

Supermarkets, Cafés and Restaurants

You’ll be able to expect several supermarkets, cafés and restaurants in the vicinity.

Facility Management and Maintenance

Facilities Manager and Annual Service Charge

As it’s typical for the buildings in Dubai, the facility management in Lake Terrace Tower is provided by the professional company – its fees are included in your annual service charge. You should know the current annual service charge amount before purchasing or renting.

Building Rules and Community Regulations

As a resident of the building, you should know the building rules that usually include noise restrictions, pet policy and use of common areas.

Building Security System

As far as the security of the building is concerned, it usually includes restricted access to the building, CCTV system and on-site guards.

People who Live and Work at the Address

Families and Long-Term Residents

You should know that there are many long-term residents in Jumeirah Lakes Towers, including families that decided to move to this community due to its affordable price.

Young Professionals and Expatriates

There are also many young professionals and expatriates who work in nearby business centers and chose this address due to the short commute time.

Short-Term or Holiday Home Renters

There are also several short-term and holiday renters, including tourists who chose this address due to its proximity to the Marina and still have lake views.

Advantages and Disadvantages of Choosing Lake Terrace Tower

Advantages over Other JLT Towers

While choosing Lake Terrace Tower, you’ll probably appreciate its lake views, central location in JLT, metro access and affordable price in comparison with the new Marina buildings.

Potential Disadvantages to Consider

However, there are also some factors you should consider while choosing the address – for example, the age of the building in comparison with other buildings, possible increases in service charges and density of the area.

Comparison with Other JLT or Dubai Towers

Comparison With Other JLT Towers

While comparing this building with other towers of Jumeirah Lakes Towers, you should consider the quality of views, age of the building and amenities.

Comparison with Marina Alternatives

If you’re trying to choose between Jumeirah Lakes Towers and Marina alternatives, you should understand that in JLT you’ll have less prestige of being closer to the sea, but you’ll also have lower price and quietness of the community.

Frequently Searched Practical Information

Metro Station and Walking Time

It’s usual that the nearest metro station of JLT is in the walking distance from the building, but the walking time may differ from cluster to cluster.

Parking Facilities for Residents and Guests

As it was mentioned earlier, the parking for the residents is usually allocated per unit, and the parking for the guests is also available in Lake Terrace Tower, but this detail may differ from building to building.

Pets and Family-Friendliness

Before choosing this building, you should find out whether it’s pet-friendly or not.

Tips for Buyers and Renters

Best Time for Buying or Renting

As you know, the real estate market has its cycles, so you’ll probably have a better bargaining power during some periods of time – this is the time to discuss the current situation with the local realtor.

Important Points to Consider Before Making the Decision

You should ask about the service charges, maintenance record of the building, allocation of parking spaces and any pending building valuation – these points can greatly affect your financial position in the future.

Cooperation with the Real Estate Agents in JLT

The RERA-licensed real estate agent specializing in JLT will help you to find your dream property and avoid possible mistakes due to the fact that he or she knows everything about the current market situation in the neighborhood.

Future Outlook for JLT and Lake Terrace Tower

Future Infrastructure and Construction Projects in JLT

The ongoing infrastructure development projects in Dubai’s transport and retail networks may affect the property prices in the neighborhood, though it’s better to know the exact projects from the current news sources rather than to assume something based on the outdated information.

Potential for the Future Development in the Neighborhood

Based on the location and the fact that the neighborhood will always attract people due to the view of the lake, JLT and, therefore, Lake Terrace Tower is considered to be a stable neighborhood and not a speculative one.

Conclusion

This article concludes all the information concerning Lake Terrace Tower. From its location in JLT, the presence of lake views, good connectivity with Dubai Marina and Sheikh Zayed Road, variety of apartments and presence of certain amenities. Whether your purpose of buying this property is buying, renting or investment, one can say for sure that its main selling point is surely the combination of all three above named factors – its great location, wonderful views and relatively low price when compared to other luxurious waterfront towers in Dubai. It is very important to check its price, service charges and availability from the official source.

Frequently Asked Questions (FAQs)

Where is Lake Terrace Tower Located?

Lake Terrace Tower is located in JLT, which is a freehold area in Dubai, located between Sheikh Zayed Road and Dubai Marina.

What Are Average Rental/Sale Prices in Lake Terrace Tower?

Prices are varying depending on the size of the apartment, its floor level and views, but as it changes trends in the Dubai market, it is better to check current prices of units from the listing portal.

Is Lake Terrace Tower a Freehold Property?

Yes, it is as JLT is a freehold area and foreign buyers can buy real estate there.

What Amenities Does the Building Provide?

Amenities which are available in this building are a shared swimming pool, gymnasium, ground floor retail and resident parking.

How Far is the Nearest Metro Station?

There is a metro station near JLT, but the exact distance will depend on the part of the cluster where your unit is located.

Is This Tower a Good Investment in JLT?

Yes, it surely can be, mainly because of its wonderful views and great location, but it is necessary to take into account other aspects.

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