Ocean Terrace Tower by Mismak Properties

OCEAN TERRACE OFFERS LUXURY 1, 2 AND 3 BEDROOM APARTMENTS THAT OVERLOOK THE HIGH-PROFILE MARINA SQUARE COMMUNITY

ABOUT OCEAN TERRACE

About the project Ocean Terrace Tower

Ocean Terrace Tower is a 43-storey waterfront tower in Marina Square, Al Reem Island, developed by Mismak Properties, which completed the building’s construction back in 2012. At the moment, there is a great opportunity to rent or buy real estate here.

The complex has 375 residences, which include apartments with 1, 2 and 3 bedrooms, ranging in size from 872 sq.ft. to 2,120 sq.ft. All residences have a spacious dining-living room, with a minimum of 2 bathrooms, panoramic windows, built-in wardrobes and tiled floors. Only some of the apartment units for sale come as furnished, so the other available residences buyers can arrange at their discretion based on personal wishes and preferences.

To make residents feel as comfortable as possible in the Ocean Terrace Tower, the project provides the following amenities: a gym with a sauna and steam room, an outdoor communal pool, a playground, a 24-hour security service and covered parking. In addition, pets are allowed in the complex as well.

Starting from AED 800,000

Property price

Within the complex, you can purchase a 1 bedroom apartment of 879 sq.ft for AED 800,000 (USD 218,000).

If you need to rent accommodation, prices for 1 bedroom apartments start from AED 50,000 (USD 14,000) per year.

Location

The Ocean Terrace Tower project is located in Marina Square, Al Reem Island, Abu Dhabi. To connect the development with the central part of the emirate, there is the highway of Hazza'Bin Zayed The First St and Al Matla'i St which allows quick and easy access to the rest of the capital. The infrastructure of this area is quite developed as there is everything necessary for residents on the island, including supermarkets, pharmacies, hospitals, a bank, a kindergarten, public parking spaces and automatic bike rental stations.

Within a 5-minute walk of the development is the Playhouse Nursery for preschool children, working under the UK EYFS (Early Years Foundation Stage) programme. Within the same distance are places such as Oxid Cafe, Baz Station Internet Cafe, Oriental Karate & Kobudo Club and the Carrefour Paragon Bay supermarket. The following amenities are just a 10 minute walk away:

  • Khor ʹAzeez St/Marina Square and Hazzaʹ Bin Zayed St/Marina Square bus stops.
  • Perfect Balance Rehabilitation Center physiotherapy clinic. The center specializes in rehabilitation after sports injuries, physiotherapy for children with neurological, orthopedic and musculoskeletal diseases, and also provides a women's health course.
  • BinSina Pharmacy Paragon Bay Mall.
  • Al Aziz Mosque.
  • Beauty salon; ‘Cool Time’ ladies salon and ‘Touch’ gents salon.
  • A branch of the bank National International Holding.
The journey to reach Sorbonne University Abu Dhabi, Reem Hospital and Burjeel Day Surgery Center will take 10 minutes’ by car or taxi. Just15 minutes away you can reach the center of the emirate, where there are many prestigious educational institutions like Khalifa University and Emirates College, as well as various business and shopping centers. Abu Dhabi International Airport is a 30-minute drive from Ocean Terrace Tower.

For outdoor enthusiasts, there are several parks located in different parts of the emirate that are within 25 minutes’ from the complex. Residents can visit the unique parks of the capital like the Mangrove National Park or Jubail Mangrove Park or go to Dolphin Park. These places have everything you need for a great vacation or day out with family or friends, from fun and games, to picnics and relaxing with kids. For example, Dolphin Park has a huge playground for children, spacious outdoor green areas and 10 barbeque areas. Jubail Mangrove Park, on the other hand, is the first self-contained educational, natural and recreational destination of its kind in Abu Dhabi. Here you can sign up for excursions and explore the areas which are home to rare species of birds and marine animals.

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Economic attractiveness

Marina Square offers the opportunity to buy property on a freehold basis, at affordable prices. In addition, Ocean Terrace Tower, as well as the area as a whole, offers the highest possible return on investment for 1-bedroom apartments, at a level no lower than 7.7% ROI per annum.

In addition, based on Bayut & Dubizzle's H1 2021 report on the Abu Dhabi real estate market, it is safe to say that Al Reem Island is one of the most popular destinations for both buying and renting property, as it has everything needed for the most comfortable living. Many investors and tenants who are considering buying/renting luxury properties have shown increased interest in coastal, integrated areas such as Al Reem Island.

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