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19 March 2024

Emaar's Dubai Creek towers at Dh1,850 psf

Dubai Creek Residence cluster comprises six towers with the Dubai Creek Harbour at The Lagoons housing 3,664 office units, eight million square feet of retail space, 39,000 residential units and 22 hotels with 4,400 rooms. (File)

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By Parag Deulgaonkar

Emaar Properties and Dubai Holding, developers of Dubai Creek Harbor at The Lagoons, did not hike sale prices during the launch of their second and third tower of Dubai Creek Residences, real estate agents have told Emirates 24|7.

“We were expecting a five per cent increase, but prices were not hiked. Units facing ubai Creek were sold for Dh1,850 per square foot (psf), while those without the Creek view sold for Dh1,400 psf,” a real estate agent said, on condition of anonymity.

The launch of the two new towers in Dubai Creek Residence took place on November 15.

Emirates 24|7 reported on November 12 that developers had sold units in the first tower for Dh1,400 psf to Dh1,850 psf, with most of the units selling through Emaar Preferred Access.

Read: Emaar sells Dubai Creek-facing homes for Dh1,850 psf

“Emaar releases 60 to 70 per cent of the units in the towers on the launch day. It generally keeps the rest and gradually sells it till over time, or on handover,” agents said.

Dubai Creek Residences cluster comprises six towers with the Dubai Creek Harbour at The Lagoons housing 3,664 office units, eight million square feet of retail space, 39,000 residential units and 22 hotels with 4,400 rooms, while the centerpiece will be the ‘Dubai Twin Towers’ that will be the tallest twin towers in the world.

The Lagoons was three times the size of Downtown Dubai, Emaar Chairman Mohamed Alabbar has said.