Emaar's new project units sold out on first day
Dubai, September 23, 2012
The Address The BVLD serviced residences, the newest residential offering of Emaar Properties in Downtown Dubai, were sold out on the very first day of their launch.
Customers queued several days prior to the public launch to buy the residences released for sale at Emaar Sales Centre, a statement said.
The overwhelming response to the launch of Emaar’s new five-star Address hotel and luxurious serviced residences is testament to the robust growth of the city’s hospitality and property sectors, and builds on the success of Emaar’s project launches earlier this year, it said.
The Address The BLVD has 200 hotel rooms and 542 serviced residences including studios, 1, 2, 3 and 4-bedroom units. Emaar released a significant volume of the studios, 1, 2 and 3-bedroom serviced residences at the launch, it said.
Ahmad Al Matrooshi, managing director, Emaar Properties, said: “The strong response to the launch of The Address The BLVD is an indication of the robust demand for premium developments in established lifestyle communities. Downtown Dubai, described as ‘The Centre of Now,’ offers investors the opportunity to become part of one of Dubai’s most sought-after locations.
“The sell-out of the serviced residences that were offered for sale demonstrates the strong investor confidence in the development credentials of Emaar, while underlining the positive growth trends witnessed in Dubai’s real estate sector. We are committed to upholding the highest standards in the development of The Address The BLVD for scheduled handover in 2015.”
The Address The BVLD is located on Emaar Boulevard at the gateway to Downtown Dubai. Residents in the serviced residences stand to benefit from the highest service standards offered by The Address Hotel + Resorts brand. In addition to the option of staying or renting out the homes, investors can also benefit from Emaar’s rental programme.
The serviced residences offer majestic views of Burj Khalifa, The Dubai Fountain, the Arabian Gulf and beyond, and are in easy access of the key business nerve-centres in the city. The Address The BLVD will also have direct access to The Dubai Mall, the world’s largest shopping and entertainment destination, through a new air-conditioned bridge link, in addition to easy access to The Dubai Mall/Burj Khalifa metro station.
Work on the project will commence shortly, the statement added. –TradeArabia News Service
More Finance & Capital Market Stories
- United Arab signs $250m syndicated loan
- Standard Life sets up Asia advisory board
- UAE among 20 most attractive countries for M&A
- Gulf stocks surge as Fed tapering adds fuel to fire
- SABB launches graduates programme
- NBAD names key official for Hong Kong
- Commercial Bank of Dubai obtains $450m loan
- EFG Hermes names group co-chief
- Islamic bond issuance in GCC picking up
- Kuwait budget surplus likely to hit $42.4bn