Last updated: July 21, 2025
Dubai: Looking for an apartment right along Sheikh Zayed Road in Dubai? And you want to take possession ASAP?
All you need to do is look to some of the existing towers on SZR that are getting re-done as new freehold options.
The response to the first of these repurposed buildings – the 60-storey AA Tower – has been bullish, with prices of the apartments starting from Dh2.8 million. (The price per square foot range is Dh3,512 to Dh4,4663, according to data from Harbor Real Estate.)
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The AA Tower is ‘being launched with an internal payment plan and well-positioned pricing, especially when compared to nearby up-and-coming projects still under construction, such as Trump Tower and Jumeirah Towers Residences’, says Mohanad Alwadiya, CEO of Harbor Real Estate.
“There has been a noticeable increase in (existing leasehold building) owners (on Sheikh Zayed Road) seeking to convert their properties and pay the required fees – approximately 30% of the property’s base value – in preparation to relist them on the market at prices that have surged by 50% to 100%.
“This launch signals the beginning of a tangible shift in the real estate landscape along Sheikh Zayed Road, from restricted ownership to an open investment market.”
There is already talk of three more existing SZR towers going freehold, creating a mini-boom in an area that’s already being seeing peak launch and sales activity. Apart from the Jumeirah Emirates Towers Residences (from Meraas) and Trump Tower (from Dar Global), the prime Sheikh Zayed Road stretch also has investors eyeing the Burj Azizi and Deyaar’s DWTN tower options.
What are the prices on Sheikh Zayed Road?
At the Trump Tower, the price per square foot are estimated at between Dh3,600 to Dh10,000, with the starting apartment value at Dh2.54 million. For the 725-meter tall Burj Azizi, the psf range is even steeper, from Dh7,149 to Dh34,000, based on some estimates.
So, when existing high-rises on Sheikh Zayed Road switch to freehold, that opens up a wealth of opportunities for investors. And also a chance to buy a prime property in one of Dubai’s most iconic locations at a price lower than what current branded offplan projects are charging.
“Sheikh Zayed Road offplan prices are significantly higher than ready prices,” said Sameer Lakhani, Managing Director of Global Capital Partners. “This could change as demand for ready properties is expected to rise relative to offplan. Even then, branded residences will trade at a much higher price bracket which in turn affects developer preferences to cater to that segment.”
It was earlier this year that Dubai passed a decree allowing for the conversion of 128 plots along Sheikh Zayed Road – from the Trade Centre Roundabout to Dubai Water Canal – to be designated as freehold.
What this allowed was for those plot and building owners to benefit in full from the property boom Dubai’s freehold market is experiencing – and specifically what’s happening in and around the SZR corridor. (The same decree also confirmed freehold status to over 300 plots in the Al Jaddaf area.)
“The introduction of full freehold ownership in Sheikh Zayed Road – and Al Jaddaf – has created new opportunities, driving significant transactions and development activity,” said Alwadiya. “Prices are rising, investor interest is growing, and ready properties are leading the market…”
Prices rises fast for SZR ready units too
According to data, prices of ready properties on Sheikh Zayed Road gained over 20% in the January to end June 2025 phase, while those on offplan were up a more prosaic 2% plus. This is exactly what the owners of the newly converted freehold buildings on SZR would want to cash in on.
“The original SZR towers are landmarks in their own right, depending on where are located in relation to the Trade Centre Roundabout,” said an estate agent. “There are investors who will want to snap up repurposed freehold units the moment they come to market.
“Plus, with the likes of Trump Tower and Burj Azizi getting built nearby, it adds to the future growth potential. All this at a price ‘discount’ to the branded towers.”
Smart investors will have noticed all such possibilities and come up with a decision. So, will they go for a ready or offplan purchase on Sheikh Zayed Road?
