Panorama receives sell-out response
Dubai, May 27, 2012
Panorama at The Views, the newest residential project launched by Emaar Properties, has recorded a sell-out response, with all residences released for sale bought by customers who attended the Emaar Sales Centre on the opening day.
The overwhelming response to the launch of the residential project is a strong demonstration of the investor confidence in Emaar’s project development competencies, and the growing demand for real estate in Dubai’s prime locations, a statement from the company said.
For Panorama at The Views, Emaar offers several investor focused initiatives in line with the guidelines of the Real Estate Regulatory Authority (Rera). The project is registered with the Dubai Land Department and all its units are listed on the department’s system.
Emaar has also set up a dedicated Escrow account for Panorama with 20 per cent of the construction value deposited as bank guarantee in the account. All sales proceeds will be deposited in the Escrow account, which will be used only for construction purposes. Investors can also make payments based on construction milestones.
Ahmad Al Matrooshi, managing director, Emaar Properties, said: “The sell-out response to Panorama at The Views is a clear testament to investor confidence in Emaar’s project delivery credentials and the positive growth being recorded by Dubai’s property sector this year. Our investor focused initiatives lend further market confidence, and we remain committed to the hand-over of the project as per schedule in the first quarter of 2015.”
The development is located near The Greens with the homes overlooking the Emirates Golf Course. It has 224 apartments, including large one, two and three-bedroom apartments and three and four-bedroom duplex units.
Panorama marks the first of several other lifestyle communities that are being planned by Emaar in Dubai including the premier Dubai Modern Art Museum & Opera House District in Downtown Dubai. – TradeArabia News Service