Рихан 2 (Reehan 2)

TL;DR: Reehan 2 by Emaar Properties is an exclusive low-rise residential building in the Old Town district of Downtown Dubai. Completed in 2007–2008, it offers just 38 freehold apartments (studios to 3-bedrooms) across 4 floors, with current resale prices from AED 1.28 million. Part of the 8-building Reehan complex within Old Town's Arabian-inspired architecture, it provides walking-distance access to Burj Khalifa, Dubai Mall, Dubai Fountain, and Souk Al Bahar.

Introduction

Reehan 2 is an intimate, low-rise residential building within the Reehan sub-district of Old Town, Downtown Dubai — developed by Emaar Properties, the publicly listed developer responsible for the Burj Khalifa, Dubai Mall, and the entire Downtown Dubai master plan. Completed in 2007–2008 (registered with Dubai Land Department under plot 198-0, with FazWaz records showing January 2008 as the official completion date), Reehan 2 houses just 38 freehold apartments across a basement parking level, ground floor, and 3 residential floors.

Reehan 2 is one of 8 buildings within the Reehan complex (Reehan 1 through 8), which itself is one of 6 districts comprising Old Town — Downtown Dubai's only low-rise apartment community. The Old Town district contains 35 residential buildings across its 6 sub-districts (Yansoon with 9 buildings, Reehan with 8, Miska with 5, Zaafaran with 5, Zanzabeel with 4, and Kamoon with 4), totalling 1,549 apartments across 225 floors.

What distinguishes Old Town — and by extension Reehan 2 — from every other residential community in Downtown Dubai is its architectural DNA. While the surrounding district is defined by glass-and-steel skyscrapers, Old Town was purpose-built to evoke the historic Arabian architecture of Al Bastakia (Al Fahidi Historical Neighbourhood) in Bur Dubai, creating a living homage to Dubai's pre-oil heritage within the most contemporary urban district in the Middle East. This architectural uniqueness, combined with the extreme scarcity of just 1,549 total apartments in Old Town, has established the community as one of Dubai's most coveted residential addresses.

Location & Connectivity

Reehan 2's location within Old Town places it at the geographic and cultural heart of Downtown Dubai — a district that Emaar Properties has described as "the centre of now" and that functions as the emirate's primary leisure, retail, and tourist destination.

The building's most extraordinary locational advantage is its walking-distance proximity to several of the world's most iconic landmarks. Souk Al Bahar — the modern Arabian souk housing over 100 shops and 22 restaurants, opened in 2008 — is approximately 1.2 kilometres away (5 minutes by car or a pleasant walk). The Dubai Fountain, the world's largest choreographed fountain system performing nightly shows, is within a 5–10 minute walk. The Burj Khalifa — the world's tallest building at 828 metres and 163 floors — is approximately 10 minutes on foot. Dubai Mall, the world's second-largest shopping centre by total area with over 1,300 stores, 200 restaurants, and approximately 100 million annual visitors, is within 10–15 minutes walking distance. Dubai Opera, the multi-format performing arts venue in the Opera District, is similarly accessible on foot.

Key driving distances include approximately 10 minutes to DIFC and Business Bay, 17–23 minutes to Dubai International Airport (17–19 kilometres), 4 minutes to the nearest Carrefour supermarket, and approximately 20 minutes to Dubai Marina. Spinneys supermarket is within walking distance. The nearest metro stations — Financial Centre, Emirates Towers, and Business Bay on the Red Line — are approximately 10 minutes by car, though Old Town's pedestrian-oriented design means many daily needs can be met without a vehicle.

Architecture & Design

Reehan 2's architecture represents a deliberate and scholarly recreation of historic Dubai's building traditions, directly inspired by the Al Bastakia (Al Fahidi Historical Neighbourhood) in Bur Dubai — the original 19th and early 20th century quarter built by wealthy Persian merchants who were pearl and textile traders attracted to Dubai Creek's tax-free trading environment.

The building incorporates specific architectural elements drawn from this heritage. Barjeel (wind towers) — the tall, four-sided chimney-like structures that capture prevailing winds and channel cooler air into rooms below, capable of reducing interior temperatures by over 10 degrees Celsius — are reproduced as design features. Mashrabiya (intricate lattice screens) are employed on windows and facades, providing shade and privacy while allowing natural light and air circulation. The surface treatments recreate the gypsum, clay, and sarjool plastering historically used in early 20th century Dubai construction, as explicitly noted by Emaar Community Management.

The overall aesthetic draws from coral and limestone-inspired construction materials (the historic Bastakia buildings used coral, limestone, shells, mud, and clay for natural thermal insulation), narrow sikkas (pedestrianised alleys designed to maximise shade, historically measuring 7–8 feet wide), large enclosed courtyards with high walls providing privacy and sun protection often featuring palm trees and water features, and arabesque geometric patterns derived from Islamic ornamental traditions.

Internally, Reehan 2's apartments feature spacious, airy layouts with large windows and private balconies. The design incorporates traditional Arabic aesthetic elements while delivering modern functionality — fitted kitchens, high-quality bathroom fixtures, built-in wardrobes, and contemporary climate control through Emaar's district cooling system. Select ground-floor units benefit from private garden decks, adding an outdoor living dimension that is rare in Downtown Dubai.

Unit Types & Payment Plans

Reehan 2 offers four residential configurations across its 38 apartments, with the building notably serving as the primary location for studios within the broader Reehan complex.

Studios measure approximately 600 square feet, featuring an open-plan living area with integrated kitchen, en-suite bathroom, and contemporary finishes. Reehan 2 is specifically identified as the building within the 8-building Reehan complex where studio apartments are concentrated.

One-bedroom apartments range from 790 to 1,009 square feet, incorporating a bedroom with dressing room, en-suite bathroom, laundry area, kitchen, and private balcony. Current resale prices range from AED 1,280,000 to AED 1,990,000.

Two-bedroom apartments span 1,400 to 1,894 square feet, featuring open kitchens, laundry areas, dressing rooms, en-suite bathrooms, and either a balcony or private garden deck (ground-floor units). A specific Reehan 2 listing recorded a 2-bedroom unit at 1,410 square feet for AED 2,900,000. Current resale prices for 2-bedroom units across the Reehan complex range from AED 2,000,000 to AED 3,500,000.

Three-bedroom apartments measure approximately 2,116 square feet, offering a study room, kitchen, powder room, utility room, and a master bedroom with dressing room and en-suite bathroom. Prices for 3-bedroom units range from AED 4,300,000 to AED 8,020,000 depending on floor, view orientation, and condition.

The average price per square foot for Reehan 2 stands at approximately AED 1,955, with an average property price of AED 3,060,000. As a fully completed development from 2007, all transactions are secondary market sales with full payment upon transfer. Many units offer views of the surrounding community courtyards and the iconic Burj Khalifa.

Amenities & Lifestyle

Reehan 2 provides a refined amenity offering consistent with the Old Town community's lifestyle positioning as a serene, pedestrian-oriented neighbourhood within the high-energy Downtown Dubai district.

Within the Reehan complex and broader Old Town community, residents access communal swimming pools (temperature-controlled), children's pools, a community gymnasium, squash courts, beautifully landscaped communal garden areas, and dedicated BBQ areas for social gatherings. The building features covered basement parking, high-speed elevators, 24-hour security with CCTV monitoring, professional maintenance services, 24-hour concierge, and central air conditioning through Emaar's district cooling system. The building and community are pet-friendly, subject to government vaccination requirements.

The broader Old Town community lifestyle is defined by its pedestrianised streetscape — the narrow sikkas and enclosed courtyards create a walkable, village-like atmosphere that stands in stark contrast to the glass tower districts that surround it. Souk Al Bahar, connected to Dubai Mall via an architectural bridge over the Burj Lake, provides 100+ shops and 22 restaurants within walking distance, while the Address Downtown Hotel and the Palace Downtown Hotel (both within Old Town) offer residents access to world-class dining, spa facilities, and hospitality services.

The cultural and entertainment offerings accessible on foot are without parallel in the UAE: the Burj Khalifa observation deck, the Dubai Fountain nightly shows, the Dubai Mall (including Dubai Aquarium and Underwater Zoo, VR Park, and KidZania), Dubai Opera, and Burj Park (an 11,300-square-metre green space on an island in Burj Lake) are all within a 10–15 minute walk. This concentration of global landmarks within pedestrian range creates a lifestyle proposition that cannot be replicated in any other Dubai community.

Developer Profile

Emaar Properties is the UAE's largest and most iconic real estate developer, founded in 1997 and listed on the Dubai Financial Market since 2000 — notably the first property company on the DFM to offer shares to foreign nationals. The company is controlled by the Investment Corporation of Dubai (the sovereign wealth fund of the Government of Dubai) with Dubai's ruler, H.H. Sheikh Mohammed bin Rashid Al Maktoum, as a major shareholder.

Emaar's scale is extraordinary: over 85,000 residential units delivered globally across 351 projects. The company's 2024 revenue reached AED 35.5 billion (approximately USD 9.6 billion), representing 33% year-over-year growth, with property sales totalling AED 70 billion. Within Downtown Dubai alone, Emaar's legacy includes the Burj Khalifa (completed 2010, cost exceeding USD 1.5 billion), Dubai Mall (opened 2008), Dubai Fountain (2009), Souk Al Bahar (2008), Dubai Opera (2016), and Old Town (2006–2008).

The Downtown Dubai master plan was announced in June 2000 as a redevelopment of the Umm Al Tarif area. Old Town was among the earliest phases, with construction spanning 2004–2008. By the end of 2007, Emaar had delivered 21,000 residential units total in Dubai. Old Town was explicitly designed by Emaar as "an architectural masterpiece that seamlessly integrates homes, boutique offices, hotels, and retail centres," paying homage to historic Dubai while providing contemporary living standards.

Investment Potential

Reehan 2 occupies a unique position in Dubai's investment landscape as an irreplaceable, scarcity-driven asset in the city's most prestigious address. Old Town's total inventory of just 1,549 apartments — within a Downtown Dubai district that attracts millions of visitors annually — creates a structural supply constraint that supports premium pricing and capital preservation.

Rental yields across the Reehan complex range from approximately 5.8% gross for 2-bedroom units to 6.7% gross for 1-bedroom apartments, based on Bayut benchmark data. While these yields are moderately below the Dubai-wide average of approximately 6.9%, they reflect Old Town's premium positioning — investors accept a modest yield compression in exchange for exposure to one of the most capital-protected locations in the emirate. Annual rents range from AED 70,000–100,000 for 1-bedroom units to AED 100,000–125,000 for 2-bedroom apartments, with 3-bedroom units commanding AED 250,000–350,000.

Rental demand has been growing at approximately 10% year-over-year, driven by Old Town's unique character appeal, its walkability to global landmarks, and the growing expatriate preference for boutique, low-rise living within otherwise high-rise urban districts. The community attracts a particularly stable tenant demographic — senior professionals, diplomatic families, and cultural-sector executives — who value Old Town's architectural character and are willing to pay premium rents for the lifestyle proposition.

With just 38 units in the building and 1,549 in the entire Old Town community, turnover is naturally low and secondary market inventory is consistently tight. Sale price trends show a 6% increase over the prior 12 months across the Reehan complex, reflecting sustained demand in a supply-constrained environment. The freehold ownership structure enables 100% foreign ownership, and the UAE's zero personal income tax and capital gains tax regime maximises net returns on what is fundamentally a blue-chip, trophy-grade residential asset in the heart of Dubai's most iconic district.