Emaar emerges as leader in serviced residences sector

(ANTHONY RICHARDSON)   

Emaar Properties has taken the lead in the serviced residencial sector, having recorded strong customer response to the recent sale of serviced apartments at Dubai Marina and Downtown Burj Dubai.

The high customer interest highlights the emerging trend in the UAE property market in favour of serviced residences, also reflecting the boom in tourism, said a press statement. 

Recent customer response to the sale of a limited collection of luxury waterfront serviced apartments at the 38-storey Dubai Marina Mall Hotel & Serviced Residences was overwhelming, the statement added.

Emaar Properties Sales Director Saif Al Mansoori said: “In-bound tourism to the UAE is projected to grow at an average of 7.2 per cent annually with 14 million visitors expected by 2015.

“The growth in tourism has spurred demand for serviced residences, more so, given the growth of the meetings, incentives, conference and exhibition sector in Dubai. Serviced residences are thus preferred investment choices, signalling an emerging trend in the UAE property sector,” he said.

The Dubai Marina Mall Hotel & Serviced Residences is part of the 150,000 square metres Dubai Marina Mall complex, which also includes the Dubai Marina Mall Hotel; the Dubai Marina Mall – a modern shopping and entertainment destination; and an eight-storey tower dedicated to diverse cuisines.

The Serviced Residences are located next to Marina Plaza, a 28-storey boutique building offering freehold commercial property.

The Dubai Mall Hotel & Serviced Residences are an integral component of The Dubai Mall, one of the world’s largest shopping and entertainment destinations, located within Downtown Burj Dubai.

Downtown Burj Dubai is a 500-acre mega project regarded as the new heart of the city with a thriving community life.