New Emaar projects selling out

Over 95 per cent of the units launched in 2012 and to date in 2013 have been sold, Emaar Properties has said.

“All launches have witnessed an excellent response from investors and end users.

“Total sales value in Dubai till end of May 2013 is approximately Dh4.5 billion, which is almost four times compared to sales in the same period in 2012 (approx. Dh1.2 billion),” the Dubai-based developer said in its latest corporate presentation.

The builder of Burj Khalifa, the world’s tallest tower, launched over 3,200 apartments, townhouses and villas during 2012 and 2013.

The following projects were the launched last year: Panorama at the Views (224 apartments), Alma II at Arabian Ranches (62 townhouses), Casa at new Arabian Ranches II (253 Villas) and a new Address - The Address The BLVD at Downtown Dubai (533 serviced apartments and 200 hotel rooms).

In 2013, it launched The Address The Fountain Views I &II (566 serviced apartments), The Address The Sky Views I & II (515 serviced apartments), Burj Vista (648 apartments) in Downtown Dubai and The Hills (400 apartments) in Emirates Living.

“Maar’s Dubai real estate developments are located in prime locations, which will be the focus of the majority of sales activity in the coming years,” the company said, adding the pre-sales model has been utilised with cash inflows from customers’ installments financing the bulk of construction costs.

Emaar has delivered 31,518 residential properties ((12,481 villas and 19,037 apartments) and over four million square feet of commercial space up to March 2013.

The company expects to deliver 749 units in 2013, 539 units in 2014, 533 units in 2015 and 1,730 units in 2016. 2016 deliveries are based on projects launched to date and will change with additional launches.

Emaar generated a revenue of Dh2.5 billion from sales of condominiums in 2012, compared with Dh1.1 billion in 2011, according to the detailed earnings statement released in March.

Revenue from villa sales were, however, down to Dh937.1 million from Dh958.7 million.

The developer has been holding roadshows since earlier this year with it having gone to India, Kenya, Egypt, the United Kingdom, Qatar and Oman.

It will hold a roadshow in Lebanon on July 12-13.

 

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