Dubai’s Emaar Properties’ latest project – The Hills - will be its first apartment project launched in the Emirates Living area, Emirates 24|7 can reveal.
The Hills is a four tower complex with two dedicated residential buildings. Besides, it will have a Vida hotel and Vida serviced apartments.
Emaar had announced in May that the first branded Vida hotel would open in Downtown Dubai, offering 156 rooms.
The Hills thus becomes the fifth community in the Emirates Living area, which houses upscale villa and townhouse communities such as The Lakes, The Meadows, The Springs and Emirates Hills.
The new project is targeted towards young couples and small families and will be 400 units between the two residential buildings.
According to company registered agents, sale prices for apartments could start from Dh1,250 per square feet.
Emaar, in a presentation given to its registered agents on Wednesday, said: “It is in proximity to the well-established and sough-after Emirates Living communities and their offerings. The Hills will benefit from their positive reputation amongst the Dubai residents and investors,” Emaar said in a presentation given to its registered agents.”
It added: “Residents will have the view of Emirates Golf Club and cityscape views.”
The Hills will comprise one, two and three bed apartments and will be designed with an emphasis on sustainability and adherence to Green Code requirements. There will have restaurants, supermarkets and retail outlets.
Residents will have access to a number of swimming pools, including an adult’s pool, a separate lap pool for exercise, a kid pool, a Jacuzzi, kid’s play area, sun beds and enclosed cabanas.
Emaar Chairman Mohammed Alabbar has said the company would continue to launch new projects and properties on a regular basis.
“Emaar does launches every week, that’s our strategy. I see very strong demand for the middle and upper property markets, providing the flipping activity is controlled of course,” he had said at the Global Business Forum Africa.
According to Deutsche Bank, property prices in Dubai witnessed a 6.2 per cent growth in the first three months of 2013 with the real estate recovery continuing for 16 consecutive months.