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14 April 2024

Emaar to launch new luxury tower in Downtown Dubai

By Parag Deulgaonkar

Emaar Properties, Dubai’s largest developer, will be launching The Address Residence Fountain Views, a luxury tower, in the Downtown Dubai distrcit later this month.

The public launch of new tower is scheduled for January 26, according to an invite sent by the developer to its registered real estate agents.

The Address Residence Fountain Views will be the first project to be launched by Emaar this year.

In November, the developer had announced it will be launching new luxury homes and serviced residences in Downtown Dubai and commence expansion of the Dubai Mall by building a new high-street boulevard style retail destination.

Emaar has launched the “Sky Collection“, a range of three-, four- and five-bedroom serviced residences, penthouses, and duplexes set on the uppermost levels of the 72-storey The Address The BVLD hotel and serviced apartment tower.

The tower, which includes 200 hotel rooms and 523 serviced residences, was launched in September 2012 and had recorded a sell-out response from investors.

Brookfield Multiplex Construction has commenced on the tower, which is located close to Burj Khalifa, the tallest tower in the world.

Market sources told this website earlier that Emaar had sold units in The Address The BVLD as high as Dh29,000 per square metre (Dh2,650 per square feet), which were more than double the average sale price in the area.