In a strong indication of the continued robust growth of the property market in Dubai, the launch of ETA Star’s “The Centrium” - a unique residential project targeted at salaried professionals – has met with phenomenal success, with two of the four tower blocks that comprise the project being sold out within days of its launch in Dubai. The overwhelming demand for space at “The Centrium” has prompted ETA Star to expand the sales program to Abu Dhabi, where the project will be open for sale on December 29, 2005, at the Le Meridien Hotel.
Located on the Emirates Road at the heart of the International Media Production Zone (IMPZ), “The Centrium” offers a first-of-its-kind 95 per cent finance option to its customers, thereby making sure that owning an apartment in the city is within the reach of salaried expatriate professionals. ETA Star is working with Tamweel, the leading home finance provider in the UAE, to provide a wide array of financial options to property buyers.
“The success of “The Centrium’s” launch is proof that the property boom in Dubai is here to stay,” said Abid A. Junaid, Executive Director, ETA Star. “There have recently been views expressed in some quarters that the real estate market in Dubai is softening. The overwhelming investor response to “The Centrium” puts to rest all such speculation and underscores the continued positive health of Dubai’s real estate market.”
“The response to “The Centrium” is also indicative of the overwhelming demand for affordable housing in the UAE. The project is designed to afford salaried professionals residing in GCC countries a unique lifestyle at an extremely affordable price,” Junaid added.
“The Centrium” comprises meticulously planned one, two and three bedroom apartments, and combines elegant interiors with lush green landscapes. The four distinctive tower blocks are inter-connected by link bridges, which offer stunning views to the landscape deck, the adjacent parks and the city beyond.
“The Centrium” features a host of leisure facilities, such as a temperature-controlled swimming pool, jacuzzis, kiddie pool, separate gym and health club for men and women, jogging tracks located at a landscaped deck, children’s play area and a sprawling parking lot. Other facilities include prayer rooms, library, reading room, games room, billiard room and a day care centre.
The International Media Production Zone is the first free zone in the world dedicated to media activities. Located on the Emirates Road, IMPZ is spread over 43 million square feet of area. The strategic location of IMPZ places it in close proximity to the upcoming Jebel Ali Airport, Dubai Sports City, Dubailand and Global Village, and in the neighborhood of high-end residential developments such as Emirates Hills, Jumeirah Islands, Jumeirah Village, The Springs, The Lakes, The Meadows, The Hills, Green Community Village and Arabian Ranches.
ETA Star Property Developers LLC is the property development arm of the ETA-Ascon Group. The company’s prime objective is to harness the growing commercial opportunity in Dubai's freehold market.
Developments over 5 million square feet of built-up area are already underway and many more are planned over the coming months. ETA Star’s portfolio currently includes prestigious commercial and residential properties such as 23 Marina, Liberty House, Goldcrest Executive, Goldcrest Views - 2, The Belvedere and The Palladium. In addition, ETA Star is developing commercial and hospitality projects at the DMC complex, Palm Jumeirah Crescent, Port Saeed, Salahuddin Road and other prime locations in the U.A.E. ETA star is also developing major residential & info-tech parks in India & Sri Lanka.
© 2005 Al Bawaba (www.albawaba.com)
