New residential tower launched by Emaar at Dubai Marina
Emaar Properties recently revealed the launch of its fifth Marina Promenade tower, The Aurora, at Dubai Marina, further expanding its portfolio of luxury waterfront projects.
The Aurora is the fifth tower in the six-tower Marina Promenade development, and will include 115 residential apartment units, according to Gulf News. Four other towers have already been launched.
The 23-storey tower's one bedroom flats will set investors back Dh815,888, while a two-bedroom flat is priced at Dh1,520,888. Investors must pay Dh6,822 or Dh12,696 per month and down payments of Dh32,635 and Dh60,835 for the one- and two-bedroom apartments respectively. Apartments are scheduled for handover in January 2008.
Construction work on the tower will be handled by contractors Nasa Multiplex, while Amlak Finance will provide 20-year home finance of up to 96 per cent of the value with investors paying a four per cent down-payment.
Speaking of the overwhelming investor response to the first four tower project, Bahiya Kayed, assistant director of sales at Emaar Properties, expressed high hopes for the Aurora, saying: "There was huge investor interest on our earlier partnership with Emaar for the Attessa tower at Marina Promenade and the sell-out response prompted us to continue the finance scheme."