Real-estate development company EMAAR Properties has reported strong investor response to its latest project, the 16-storey EMAAR Towers, located in the heart of downtown Dubai. The company commenced the sale of 168 apartments, at a specially created facility next to the twin tower complex this week.
The record timeframe that the company had set for the completion of the project was one of the key factors for its success, said Mansour Al-Othaimin, corporate director for Sales and Marketing at EMAAR Properties. “As property developers we consider it our responsibility to ensure that all the ground work, including the master planning of our projects are completed before they are actually opened for booking, so as to ensure that our customers are able to move into their homes as soon as possible.”
“Sixty-five percent of the construction of EMAAR Towers has already been completed and our customers will be able to move into their homes as early as October next year,” added Othaimin.
Located in the Rigga Al-Buteen area of Dubai, EMAAR Towers offers views of the Creek, Creekside Park and Dubai Creek Golf and Yacht Club. The new development is also located close to Deira City Center, Dubai International Airport, the traditional Gold Souq and the Maktoum Bridge, the link to Bur Dubai and Sheikh Zayed Highway.
“We know the demand for quality lifestyle real-estate in the heart of the city continues to exist and EMAAR Properties, architects of Dubai's new growth corridor in the high profile Jumeirah area, will continue exploring new avenues to satisfy this need,” Al-Othaimin continued.
The two residential towers are connected at the ground level with a central entrance atrium and share a three-level secure basement car park. The residential units comprise 24 one-bed suite; 80 two-bed suites, 44 three-bed suites, 12 sub penthouse three-bed suites, six penthouse suites with private terraces and two sky bridge two-bed suites.
Other amenities include European kitchens and appliances consisting of under-bench oven, ceramic hot top stainless steel exhaust hood, built-in dishwasher and refrigerator, indoor swimming pool, change rooms and gymnasium, 24-hour security and ground floor retail colonnade. The apartments also feature spacious bedrooms with large windows built-in wardrobes, sweeping balconies, the finest finishes and a fitted modern kitchen with the latest appliances.
EMAAR's recent announcement of a zero percent down payment scheme on the sale of homes in all EMAAR projects also applied to investors who bought residential units in EMAAR Towers today. The special Ramadan offer, which was launched last week, will be open until the end of the Holy Month. This offer will further supplement the home finance schemes currently being offered to investors in EMAAR projects by financial institutions in the UAE including AMLAK Finance and Dubai Islamic Bank.
EMAAR Properties is a public joint stock company listed on the Dubai Financial Market. Launched in 1997, Emaar has six major real estate projects under development. Besides the real-estate projects, EMAAR also owns and manages subsidiaries such as Dubai Bank, its retail/corporate banking subsidiary, AMLAK Finance, the UAE's first and only mortgage finance company, EMRILL, a joint venture with the UK-based Carillion plc, which provides innovative property and facilities management services, and Sahm Technologies, an Information Technology (IT) and networking services company. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
