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29 March 2024

Latest Emaar updates: Click for status on your Dubai property

Published
By Parag Deulgaonkar

Emaar Properties, Dubai’s largest developer, says it is fully committed to capitalise on the property market upturn and is adding a number of master-planned communities to its portfolio.

In its latest community newsletter, the developer said: “We are currently adding a significant number of master-planned communities to our portfolio, all of which will set new benchmarks in premier living, redefine luxury living and underpin our expertise, commitment, financial strength and investor confidence.”

In the past eight months, the developer has launched CASA and Reem projects in Arabian Ranches, Panorama at The Views near The Greens; The Hills in Emirates Living; The Address Residence The BLVD, The Address Residence Fountain Views, The Address Residence Sky View and Burj Vista in Downtown Dubai. The projects will be completed between 2014 and 2017.

Market sentiment for 2013 and beyond is deservedly optimistic, the developer said, adding, “there are increasingly promising signs that the UAE is set to thrive again.”

“Quarter 1 has certainly illustrated that there exists tremendous growth opportunities throughout the region and there is a sense of renewed confidence, vigour and certainty in the market.

“We remain fully committed to capitalise on the upturn and continue to consolidate our strengths with the development of world-class residential, retail, commercial and hospitality ventures,” Emaar said.
Company Chairman Mohammed Alabbar has said they will 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 in May.

The following updates were shared through the newsletter:

Arabian Ranches

Premium extensions to the Arabian Ranches community include Alma II and CASA. Alma II, in partnership with quality developer Arabtec and due for completion in June 2014, comprises 62 luxury townhouses.

Sub- and superstructure works are now in progress with the project 40 per cent completed. CASA will feature six types of Moroccan style three and four- bedroom villas in addition to a health club, recreation centre and extensive F&B offerings.

Sales had commenced in November 2012 with completion expected in November 2014.
Excavation is underway and development is 1.2 per cent completed.

Panorama at The Views

Panorama at The Views are contemporary apartments overlooking the Emirates Golf Course and Dubai Marina. Sales commenced in May 2012. Foundation work is in progress with a view to completion in November 2014.

Progress, at 7.2 per cent completion, is on schedule with reinforced concrete walls, columns and slab work underway.

Reem Master Development

Reem will feature several residential communities that will be unveiled in a series of phases. Currently, only Mira with three and four bedroom Mediterranean-style townhouses have been launched.

Each home will feature a comfortable interior, a terrace and a rear backyard to create a garden of your choice. These homes are scheduled for hand over, starting March 2016.

Downtown Dubai

The Address Residence The BLVD is a five-star luxury hotel with 200 rooms and 542 serviced apartments. Sales of the residences were launched in September 2012 with a view to completion in November 2015. The project is 4.2 per cent completed with substructure works currently in progress.

The Address Residence Fountain Views are serviced residences. The development features three towers and up to 760 residences of various sizes.

Shoring for both tranches has commenced with forecasted project completion dates of April and September 2016.

The Address Residence Sky View comprises hotel, residence and serviced apartment complex atop a grand podium.

Sales commenced in March 2013 and the development is expected to complete in March 2017.