Zaafaran 1

TL;DR: Zaafaran 1 is a boutique low-rise residential building in the Old Town district of Downtown Dubai, developed by Emaar Properties and completed in 2006. This intimate G+4 building houses just 49 freehold apartments — 1, 2, and 3-bedroom units ranging from 896 to 2,159 sq ft. Sale prices span AED 1.97 million to AED 5.9 million, with annual rents between AED 115,000 and AED 250,000 and gross rental yields of 5.0–6.8%. The pet-friendly building sits minutes on foot from Burj Khalifa, Dubai Fountain, and Souk Al Bahar.

Introduction

Zaafaran 1 occupies a distinguished position within one of Dubai's most architecturally unique and culturally significant residential enclaves. As part of the Zaafaran Quarter in Emaar's Old Town development, this low-rise building delivers an intimate living experience that stands in deliberate contrast to the soaring glass towers that define much of Downtown Dubai. Completed in 2006, Zaafaran 1 was among the first residential buildings delivered within the broader Downtown Dubai masterplan — a development that would go on to include the world's tallest building (Burj Khalifa) and the world's largest shopping mall (The Dubai Mall).

The Zaafaran Quarter comprises five buildings (Zaafaran 1 through 5), collectively forming one of six named districts within Old Town. The wider Old Town community encompasses 35 low-rise residential buildings across its six districts — Yansoon (9 buildings), Reehan (8 buildings), Zaafaran (5 buildings), Miska (5 buildings), Zanzabeel (4 buildings), and Kamoon (4 buildings) — housing a total of 1,549 apartments across 1,080,000 sq ft. This human-scale neighbourhood was designed by Emaar Properties to evoke the architectural heritage of historic Bur Dubai's Al Bastakia quarter, featuring earthy-tone façades, traditional wind towers (barjeel), mashrabiya-style lattice balconies, stone pathways, and arched corridors that create a distinctly Arabian residential atmosphere.

Building Specifications and Unit Configurations

Zaafaran 1 is a G+4 structure (ground floor plus four residential levels) with two basement levels dedicated to covered parking. The building houses 49 freehold apartments distributed across three configuration types: 20 one-bedroom units, 20 two-bedroom units, and 9 three-bedroom units.

One-bedroom apartments range from approximately 896 to 1,231 sq ft, with most active listings in the 1,010 to 1,106 sq ft range. Two-bedroom units span 1,259 to 1,506 sq ft, offering generous proportions for Downtown Dubai standards. The building's nine three-bedroom apartments are its most spacious, ranging from 1,886 to 2,159 sq ft — providing family-scale living within walking distance of the Burj Khalifa.

Every apartment features classic Arabian-inspired architectural detailing, modern fitted kitchens with integrated appliances, built-in wardrobes, en-suite bathrooms, and private balconies. Select units, particularly the larger two and three-bedroom configurations, command views of the Burj Khalifa, Dubai Fountain, and the Old Town courtyard gardens. The interiors maintain a cohesive design language that balances traditional warmth with contemporary functionality — wooden lattice work, arched window frames, and earth-toned stone finishes create a residential character that is unmistakably Old Town.

Location and Walkability

Zaafaran 1's location within Old Town places it at the epicentre of Downtown Dubai's pedestrian-friendly urban fabric. The building is approximately 3 minutes on foot from the Dubai Fountain — the world's largest choreographed fountain system performing nightly shows across the 30-acre Burj Khalifa Lake. The Burj Khalifa itself is approximately 9 minutes' walk, while Souk Al Bahar — the heritage-inspired marketplace housing over 100 shops and 22 restaurants with direct fountain views — is accessible within immediate walking distance.

The Dubai Mall, spanning over 12 million sq ft with 1,200 retail stores, an Olympic-sized ice rink, KidZania, the Dubai Aquarium (home to over 30,000 marine animals), and a VR Park, is 5 to 10 minutes on foot. Souk Al Bahar connects to Dubai Mall via a dedicated pedestrian bridge over the Burj Khalifa Lake. The Dubai International Financial Centre (DIFC), the region's premier financial hub, is approximately 3.2 kilometres away — a 4-minute taxi ride or 13-minute bus journey.

Dubai International Airport is approximately 19 to 20 minutes by car. The Burj Khalifa/Dubai Mall Metro Station on the Red Line is approximately 15 to 16 minutes' walk, providing direct rail access to Dubai Marina, Mall of the Emirates, and Dubai International Airport. Downtown Dubai is consistently ranked among the most walkable neighbourhoods in the emirate, with shaded pedestrian pathways, wide sidewalks, and Burj Park — a pet-friendly public park adjacent to the Burj Khalifa Lake — providing a green breathing space within the urban core.

Amenities and Lifestyle

Residents of Zaafaran 1 benefit from both building-level and community-wide amenities that reflect Old Town's premium positioning. The building and its surrounding Zaafaran Quarter provide access to an outdoor swimming pool, children's pool, fully equipped gymnasium, spa facilities, tennis court, basketball court, squash courts, children's play area, and landscaped community gardens. A sky lounge offers elevated social spaces with views across the Old Town roofscape and towards the Burj Khalifa.

Practical amenities include covered underground parking across two basement levels (with allocated spaces per apartment), 24-hour concierge services, round-the-clock security with CCTV monitoring, high-speed elevators, central air conditioning, and fire safety systems. The building is confirmed as pet-friendly, with Burj Park providing a dedicated outdoor space for dog walking and pet recreation.

The broader Old Town lifestyle revolves around Souk Al Bahar's curated blend of dining, retail, and cultural experiences. The souk's traditional Arabesque stone archways, wooden lattice detailing, and ambient Arabian lantern lighting create a marketplace atmosphere that feels authentically rooted in Gulf heritage while hosting contemporary international brands and restaurants.

Market Position and Pricing

Zaafaran 1 and the broader Zaafaran Quarter occupy the heritage-premium segment of Downtown Dubai's residential market. Current sale prices for one-bedroom apartments range from AED 1,975,000 to AED 2,950,000, with an average asking price of approximately AED 2,780,000 and price-per-square-foot rates between AED 1,486 and AED 2,397. Two-bedroom units are listed between AED 3,450,000 and AED 4,300,000, with a recent DLD-recorded transaction in November 2025 closing at AED 3,400,000 for a two-bedroom in Zaafaran 1. Three-bedroom apartments command AED 3,600,000 to AED 5,900,000, with the premium end reflecting Burj Khalifa-view units of approximately 2,155 sq ft.

The broader Zaafaran complex recorded a 12-month average DLD transaction price of AED 2,754,451 and a 6-month average asking price of AED 3,563,096. Prices across the complex have risen approximately 8% over the past six months, consistent with the wider Downtown Dubai secondary market trend of 9.8% year-on-year appreciation in 2024, reaching an average of AED 2,689 per sq ft (up from AED 2,448 in 2023). By Q1 2025, Downtown secondary market prices had advanced further to AED 2,874 per sq ft.

Annual rental rates for Zaafaran 1 range from AED 115,000 to AED 150,000 for one-bedroom units and approximately AED 190,000 for two-bedroom apartments. The building's average annual rent stands at AED 213,807 according to Bayut data. Gross rental yields across Old Town typically range from 5.0% to 6.8% depending on unit type and configuration, with studios and one-bedroom units delivering the highest yield percentages.

Service charges are estimated in the AED 15.99 to AED 19.66 per sq ft per year range, based on confirmed RERA-approved rates for comparable Old Town buildings (The Old Town A at AED 15.99/sqft, Old Town Island at AED 19.66/sqft). For a representative 1,010 sq ft one-bedroom apartment, this translates to approximately AED 16,150 to AED 19,860 in annual service charges.

Developer: Emaar Properties

Emaar Properties, founded in 1997 and chaired by Mohamed Alabbar, is one of the world's largest and most recognized real estate developers. Listed on the Dubai Financial Market with a market capitalization of approximately USD 39.95 billion as of February 2026, Emaar's portfolio includes the Burj Khalifa, The Dubai Mall, Dubai Creek Harbour, Arabian Ranches, Emirates Hills, and Dubai Hills Estate. The company's Downtown Dubai masterplan, launched in 2003, transformed a previously undeveloped area into one of the most valuable urban districts on earth — a testament to the long-term vision that underpins every Emaar community.

Investment Outlook

Zaafaran 1 benefits from Downtown Dubai's structural protection against oversupply — the area's limited remaining developable land and landmark character support long-term price stability and gradual appreciation. Select Downtown projects have appreciated up to 50% since 2022, with Knight Frank projecting approximately 3% further gain in the prime segment for 2026. The combination of Old Town's irreplaceable heritage architecture, walking-distance proximity to the world's most visited tourist attractions, freehold ownership available to all nationalities, and the enduring prestige of a Downtown Dubai address positions Zaafaran 1 as both a lifestyle residence and a resilient long-term investment.