Emaar opens new residential project for sale
Dubai, May 24, 2012
Emaar Properties, the global property developer, will open Panorama at The Views, its newest residential project, for sale to the public on May 26.
Working with the Government of Dubai’s Real Estate Regulatory Authority (RERA) and the Dubai Land Department, Emaar is following industry best practices in the sale and construction of Panorama at The Views, located in Emirates Living, Emaar’s cluster of established integrated communities, a statement said.
The development has been registered with the Land Department, and all units are now listed on the Land Department’s registry. Emaar has also set up a dedicated escrow account for Panorama at The Views, with 20 per cent of the construction value deposited as a bank guarantee.
All sales proceeds will be deposited in this escrow account, which will be used only for construction purposes. Customers will pay based on the percentage completion of construction (construction milestones), providing significant protection to investors and financial flexibility.
“Providing unique lifestyle opportunities within an established, vibrant community, Panorama at The Views represents an extremely attractive opportunity for both investors and end users,” said Ahmad Al Matrooshi, managing director, Emaar Properties.
“Working in partnership with RERA and the Land Department, we are very pleased to offer this opportunity within an investment framework that is strong, sound and transparent,” he said. “We know that such policies are important to investors everywhere, and recognise the contribution they make to investor confidence, further enhancing the positive outlook for the sector.”
Part of Emirates Living, a pioneering and fully established integrated Emaar community, Panorama at The Views is located near The Greens, with homes overlooking the fairways of the Emirates Golf Course.
Scheduled for completion in the fourth quarter of 2014 with handover to commence in the first quarter of 2015, Panorama at The Views features 224 apartments, including large one-, two- and three-bedroom apartments, and three- and four-bedroom duplex units.
Panorama at The Views is a mid-rise development designed to ensure that most apartments have uninterrupted views of Emirates Golf Course and the Dubai Marina skyline. Other features include floor-to-ceiling picture windows in living rooms and bedrooms and state-of-the-art kitchens.
Centrally located and in close proximity to Dubai Internet City and Dubai Media City, Panorama at The Views is part of an established community with a rich array of amenities, including restaurants, lush parks, retail outlets and nearby educational institutions. Other amenities include a gymnasium, soft play area for children, game room for teenagers and adults, an infinity pool and dedicated children’s pool. – TradeArabia News Service