1.23 AM Monday, 26 February 2024
  • City Fajr Shuruq Duhr Asr Magrib Isha
  • Dubai 05:27 06:41 12:35 15:52 18:22 19:36
26 February 2024

Property agents offer to 'queue up' for investors ahead of Emaar's new launch

A select number of units within Downtown and beyond have been released on Tuesday. Sales to be on a first-come-first-serve basis. Photo by Peterson Aninao

By Parag Deulgaonkar

Emaar Properties, Dubai’s largest property developer, has adopted the “first-come, first-served” basis for sales of Mira Oasis, a townhouse community within Reem neighborhood located close to Arabian Ranches.

And following the announcement, real estate agencies are sending out emails to their clients, offering to queue up on their behalf at the developer’s sales office in Downtown Dubai on Saturday.

“Kindly send your passport copies and we will queue up on your behalf,” a real estate agency said in an email.

Photo by Peterson Aninao

It added that though Emaar will disclose prices and other information on the launch date, but the down payment would be 15 per cent of the property value.

Sales will be held simultaneously across three other cities: Abu Dhabi, Jeddah and Islamabad.

Emirates 24|7 reported in September 2012 of long queues outside Emaar’s sales office during the launch of The Address The BVLD in Downtown Dubai.

But following the chaos witnessed during the launch of Mira townhouses in September 2013, Emaar switched to an online registration policy for new launches.

Mira Oasis comprises 411 three and four-bedroom townhouses. The development is anchored by a central park with interactive fountains, walkways and a water feature.

Reem has several features such as a desert botanical park, sand surfing and camel riding trails, go karting track, dune buggies, rock climbing wall, cricket pitch, soccer field, and a skate park.

In 2013, property prices rose by over 20 per cent and this year they are expected to rise by another 10 to 15 per cent.