Emaar Maple project in Dubai MBR City sold out on launch date

Emaar Properties, Dubai’s largest developer, has sold out Maple, its first townhouse community in Mohammed Bin Rashid (MBR) City, real estate agents told Emirates 24|7.

"The project was sold out on the launch date. In fact, the developer did release more units from phase two due to the high demand from investors," an Emaar-registered agent said on conditions of anonymity.

"Our investors purchased over 10 townhouses. Prices ranged from Dh1,000 to Dh1,100 per square feet," he revealed.

The launch took place on April 25 in Dubai and Abu Dhabi. Post-launch, the developer has not officially issued any statement.

Dubai Hills Estate, a joint venture of Emaar and Meraas Holding, is developer of the project.

The developer had not responded to Emirates 24|7 questions till the time of publishing of the article.

A number of townhouses have already been listed in the secondary market, with sellers asking for prices between Dh2.25 million and Dh3 million for three to five-bed units.

This website has reported earlier that in an effort to stop flipping the developer has already barred local real estate agents (registered/unregistered) from selling any off-plan property, purchased under their names, until handover.

Maple is scheduled for completion in first quarter 2019.

The developer has already launched Dubai Creek Residences in Dubai Creek Harbour at The Lagoons, developed jointly with Dubai Holding, and Mulberry Park Heights in Dubai Hills Estate.

In April, it launched its new project Downtown Views, a 55-storey residential tower that will be connected to the Dubai Mall.

With over 235 million square metres of land bank in Dubai and international markets, the company has total assets of over Dh74 billion and a market value of over Dh50 billion, a company statement said.

It has delivered over 38,600 residential units including over 22,000 apartments and 16,600 villas in Dubai and other international markets. In Dubai alone, the developer has handed over 33,000 residential units, including over 20,500 apartments and around 12,500 villas.

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