Monday, July 21, 2008

Warsan Villas to contribute a profit of Dh2.2bn to Emaar

Warsan Villas by Emaar
Emaar could make a profit of Dh.2.2bn, once its new master development Warsan Villas is complete within three years time, revealed an industry analyst.

A contract worth Dh.599mn has been signed between Arabtec and Emaar to design, and develop 550 townhouses in the 3.4mn Square Foot development, located on Al Awir road. This implies cost of construction of each villa in Warson is a little more than Dh.1.08mn.

Emaar has not yet revealed the prices of the villas, although Warsan Estate has been rolled out on sale at a price of Dh.4.7mn for a townhouse. But, the local real estate websites indicate that Warsan three bedroom villas are priced at Dh.4.9mn to Dh.6.28mn.

This implies that Emaar is collecting minimum of Dh.4mn per villa on an average. Hence for the entire Warsan development, comprising 550 villas, Emaar is likely to gain a profit of Dh.2.2bn.
The construction of Warsan project will last for 30 months, with the villas being delivered phase by phase all through the construction period. Emaar now has four mega projects in Dubai, including the Dubai Marina, Arabian Ranches, Emirates Living and now, the Warsan.

Warsan Estate, spreading across 3.4mn Square Feet of space, is a residential community of villas. Warsan Estate would include 500 family homes on completion. The Warsan Estate features the usual high quality finish that all Emaar properties offer, being an excellent mix of amenities for residents. The spacious three bedroom townhomes range in size from 2463 Sq.Ft. to 2864 Sq. Ft. located amidst elegant landscapes.

The Warsan Estate townhomes feature slanted terracotta roofs, elegant arches, balconies, marble and granite countertops, ceramic flooring, bathroom, kitchen cabinetry, and grand bedrooms with ensuite bathrooms, and built-in wardrobes. The lifestyle amenities that are standard to Emaar, are also found in Warsan Estate, which includes a community plaza, full-fledged retail center, mosque and nursery school, Playcourts, swimming pool and shaded walkways.

With such huge demand for the Dubai properties, particularly villas, Warsan is likely to better fill in the shortage of family homes in the market. Located in close proximity to Global Village, Mushrif Park, and Dubai International Airport among others, Warsan is also easily accessible and connected to the Abu Dhabi, Sharjah, and rest of Dubai through Al Khail Road and Emirates Road.

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