Kamoon 2

TL;DR: Kamoon 2 is a 7-storey, freehold residential building within the prestigious Old Town district of Downtown Dubai, developed by Emaar Properties and completed in Q1 2007. Part of the four-building Kamoon cluster within a 35-building, 1,549-unit community, it offers 1-bedroom to 4-bedroom penthouses ranging from 800 to 3,200 square feet. Designed in traditional Arabian architectural style inspired by Dubai's historic Al Bastakiya quarter. Walking distance to the Burj Khalifa (900 metres), Dubai Mall, Dubai Fountain, and Souk Al Bahar. DLD-recorded average price of AED 2,057 per square foot, with service charges of AED 19.66 per square foot per annum.

Introduction

Kamoon 2 is a distinguished low-rise residential building situated within the Kamoon quarter of Old Town, Downtown Dubai — the only low-rise residential community in central Downtown. Developed by Emaar Properties and completed in Q1 2007, this 7-storey building forms part of the four-building Kamoon cluster (Kamoon 1, 2, 3, and 4), which itself is one of six sub-clusters comprising the wider Old Town community. Located at 5a, The Old Town Avenue, Old Town Residences, the building has recorded 82 DLD apartment transactions with a cumulative value of approximately AED 200 million — demonstrating sustained market liquidity across nearly two decades of operation.

Old Town was conceived as a deliberate architectural counterpoint to the soaring glass towers of Downtown Dubai. Drawing inspiration from Dubai's historic Al Bastakiya quarter — the city's oldest residential neighbourhood — the community recreates the spatial intimacy, earthy materiality, and pedestrian scale of traditional Arabian urban design while delivering the modern conveniences and world-class amenity infrastructure expected of an Emaar development in the heart of the city's most prestigious address. Kamoon 2, with its characteristic arched doorways, gypsum and coral facade detailing, and symmetrical window compositions, embodies this architectural philosophy with particular elegance.

Location & Connectivity

Kamoon 2's position within Downtown Dubai places it within walking distance of a concentration of global landmarks unmatched by virtually any other residential address:

• Burj Khalifa: Approximately 900 metres from the building (an 11-minute walk) — the world's tallest structure at 828 metres and 163 floors, visible from upper-floor and lake-facing apartments.
• Dubai Mall: Approximately 9 minutes by car — the world's largest shopping and entertainment destination spanning 12 million square feet.
• Dubai Fountain: Within a 10-minute walk — the world's largest choreographed fountain system, performing twice nightly. Lake-facing units in Kamoon 2 enjoy direct views of the fountain performances from private balconies.
• Souk Al Bahar: Approximately 1.8 kilometres via the Old Town pedestrianized walkway — a traditional-style retail and dining destination housing over 100 shops and 22 restaurants, connected to Old Town via dedicated pedestrian corridors.
• Dubai Opera: A 2,000-seat multi-format performing arts venue within the Downtown Opera District.

The Burj Khalifa/Dubai Mall Metro Station on the Red Line is approximately 1,500 metres from the building (an 18 to 20-minute walk), providing direct rail connectivity across Dubai's metropolitan network. Vehicular access via Sheikh Zayed Road and Financial Center Road ensures rapid transit to major employment hubs. The Dubai International Financial Centre (DIFC) and Business Bay are immediately adjacent. Palm Jumeirah is approximately 21 minutes by car, and Dubai International Airport approximately 33 minutes.

Old Town's internal layout prioritizes pedestrian movement. Traffic-free promenades connect the six residential quarters — Yansoon, Zaafaran, Reehan, Zanzebeel, Kamoon, and Miska — creating a walkable environment where residents traverse the community and reach Souk Al Bahar, the Dubai Fountain boardwalk, and the Dubai Mall entrance entirely on foot.

Architecture & Design

Kamoon 2 rises 7 storeys above a single basement parking level, maintaining the low-rise, human-scaled architectural character that defines the entire Old Town community. The building's facade employs earthy tones, gypsum and coral decorative elements, traditional Emirati plastering techniques, arched doorways, intricate geometric patterns, and dome-capped rooflines — an architectural vocabulary directly derived from the Al Bastakiya quarter's 20th-century Arabian residential traditions.

The Old Town as a whole comprises 35 residential low-rise buildings (ranging from 4 to 7 storeys) housing 1,549 apartments across 225 floors in six sub-clusters. The community's AED 704 million construction contract was executed by Al Basti & Muktha LLC, with Mace International and DSA Architects serving as project consultants. District cooling is provided through Emaar's central system, with DEWA supplying electricity and water.

Interior finishes throughout Kamoon 2 use cream and brown tones with Oriental decorative elements, floor-to-ceiling windows that maximize natural light, fitted kitchens, and built-in wardrobes. The building offers four distinct residential configurations:

• 1-Bedroom Apartments: 800 to 1,009 square feet — one to two bathrooms, balcony access, fitted kitchen, en-suite master bedroom. Select ground-floor units include enclosed private gardens.
• 1-Bedroom + Study: 1,202 to 2,262 square feet — expanded layouts with a dedicated study room; ground-floor variants feature enclosed terraces and outdoor areas.
• 2-Bedroom Apartments: 1,384 to 1,418 square feet — two bathrooms, balcony, en-suite master bedroom, generous living and dining areas.
• 3-Bedroom Apartments: 1,950 to 1,967 square feet — ground-floor units with private enclosed gardens; upper floors with balconies and views across the community.
• 4-Bedroom Penthouses: 3,180 to 3,200 square feet — exclusive top-floor residences with private roof terraces, sweeping views of the Burj Khalifa and Downtown skyline, and premium finishes.

No studio apartments exist in Kamoon 2 — the building is designed exclusively for spacious, family-oriented living.

Amenities & Lifestyle

Kamoon 2 provides building-level amenities complemented by the broader Kamoon cluster and Old Town community infrastructure:

Kamoon Cluster Amenities (shared across Kamoon 1–4): Swimming pools (adults and children), fully equipped gymnasium, Jacuzzi, sauna, squash courts, children's outdoor play areas, landscaped gardens with BBQ areas, underground parking, high-speed elevators, 24-hour security with CCTV surveillance, and 24-hour concierge services.

Old Town Community Amenities: Across the six quarters, residents access additional swimming pools, gymnasium and aerobics facilities, tennis and basketball courts (Zaafaran cluster), table tennis, games rooms, entertainment lounges, and community coffee shops. The Veo Fitness centre by Emaar in the adjacent Al Manzil District provides a premium gym option.

The community's most distinctive lifestyle asset is its walkable access to Dubai's premier cultural, retail, and entertainment infrastructure. Souk Al Bahar's 100-plus shops and 22 restaurants, the Dubai Mall's 1,200 stores and 200 food outlets, the Dubai Fountain's nightly performances, and the Burj Khalifa's observation decks are all accessible within minutes on foot — an everyday convenience that no high-rise tower can replicate.

Kamoon 2 is pet-friendly, consistent with the cluster-wide policy managed by Emaar Community Management (ECM). Small dogs and indoor cats are commonly permitted, subject to ECM guidelines.

Unit Types & Payment Plans

Kamoon 2 is a fully completed community. All transactions occur through the secondary resale and rental markets.

Resale Prices (2024–2026):

• 1-Bedroom (800–1,009 sq ft): From approximately AED 2,700,000 (AED 2,245/sq ft)
• 1-Bedroom + Study (1,202–2,262 sq ft): From approximately AED 3,300,000
• 3-Bedroom (1,950–1,967 sq ft): AED 3,500,000 to AED 3,900,000
• 4-Bedroom Penthouse (~3,200 sq ft): Approximately AED 4,500,000
• DLD-recorded average price per square foot (2026): AED 2,057
• Historical price range: AED 958/sq ft (2008) to AED 2,804/sq ft (peak)
• Cluster-wide average sold price (past 12 months): AED 2,615,238 per unit

Annual Rental Rates (2025):

• 1-Bedroom (standard): AED 119,999 to AED 134,000 per annum
• 1-Bedroom + Study: AED 170,000 per annum
• 1-Bedroom with private garden: AED 170,000 per annum
• 2-Bedroom: AED 210,000 per annum
• 3-Bedroom: AED 325,000 per annum

Service charges for Old Town Island residential units are AED 19.66 per square foot per annum (DLD/RERA approved rate), translating to approximately AED 15,728 annually for an 800-square-foot one-bedroom, AED 27,524 for a 1,400-square-foot two-bedroom, and AED 62,717 for a 3,190-square-foot penthouse.

The community operates on freehold title, with ownership available to all nationalities.

Developer Profile

Emaar Properties is one of the world's most recognized real estate developers. Founded in 1997 as a UAE public joint-stock company and listed on the Dubai Financial Market since 2000, Emaar is majority controlled by the Investment Corporation of Dubai, the emirate's sovereign wealth fund. Founded under Chairman Mohamed Ali Alabbar, the company has delivered over 85,000 residential units globally.

The Old Town holds a special position within Emaar's portfolio as the community that established the residential character of Downtown Dubai before the Burj Khalifa's completion. The Yansoon quarter achieved first occupancy in October 2006, with Kamoon and subsequent clusters completing through 2007–2008. The entire Old Town construction contract was valued at AED 704 million. In 2024, Emaar achieved its strongest-ever financial performance, with property sales surging 72% to AED 70 billion and revenue reaching AED 35.5 billion — earning the company the "Developer of the Year 2024" distinction.

Emaar Community Management (ECM) oversees day-to-day operations, maintenance, and community governance for Old Town, ensuring consistent service standards across all six sub-clusters.

Investment Potential

Kamoon 2 occupies a unique niche in Dubai's investment landscape: a mature, low-rise residence within the city's most prestigious district, offering the architectural character and pedestrian liveability of a traditional Arabian neighbourhood combined with walking-distance access to the world's most visited urban landmarks.

Gross rental yields range from approximately 4% to 6.3% across Downtown Dubai (Metropolitan Real Estate, 2025), with Old Town's one-bedroom units typically delivering 5.5% to 6.8%. While these yields sit below Dubai's apartment average of 7.2%, they are accompanied by exceptional liquidity, capital preservation, and appreciation dynamics. Downtown Dubai's secondary market average price per square foot reached AED 2,874 in Q1 2025, up 9.8% from AED 2,689 in 2024 — continuing a sustained multi-year appreciation trajectory. The broader Dubai market recorded AED 761 billion in DLD transactions across 226,000 deals in 2024 (35.8% year-on-year value increase).

Kamoon 2's DLD transaction history — 82 recorded sales with a cumulative value of AED 200 million — demonstrates the depth of secondary market activity that sustains property liquidity. The average recorded price of AED 2,057 per square foot (2026) shows meaningful headroom relative to the Downtown-wide average of AED 2,874, suggesting potential for price convergence as the Old Town's scarcity premium continues to be recognized by the market.

The investment thesis ultimately rests on irreplaceable supply. Old Town's 1,549 apartments represent a permanently fixed inventory within a district dominated by high-rise towers. No new low-rise residential development can be built in central Downtown Dubai — the land does not exist. This structural scarcity, combined with Emaar's institutional-grade community management and the community's walking-distance proximity to the Burj Khalifa, Dubai Mall, and Dubai Fountain, creates a durable floor under property values that insulates Kamoon 2 from the cyclical oversupply risks that periodically affect Dubai's newer, higher-density developments.