The latest residential project by Emaar Properties, namely, Panorama at The Views, has met out a record sales, with all residential units being purchased by customers on the opening day.
This overwhelming response to the launch of the residential project, strongly reflects the confidence of investors in Emaar’s project development competencies, and the increasing demand for properties in prime locations in Dubai.
Emaar has also established an escrow account for the Panorama, with 20% of the construction value, deposited as bank guarantee in the account. All sales proceeds will then be deposited in the escrow account, which will be used only for construction purposes. Investors, also have the option of making the payments based on construction milestones.
The Emaar Director, Ahmad Al Matrooshi, speaking about the speedy sale of the project, mentioned that the sell-out response to Panorama at The Views, clearly indicates the investor confidence in the project delivery credentials of Emaar, and the positive growth recorded by Dubai realty sector this year.
The investor-focused initiatives offered by the company, further adds to market confidence, and the project will be handed over as scheduled by first quarter of 2015, he added.
Located in proximity to The Greens, Panorama at The Views, overlooks the fairways of the Emirates Golf Course. The development offers 224 apartments, including large single, double and triple bedroom apartments, and three and four bedroom duplex units. The development is the first of several such lifestyle communities planned by Emaar in Dubai.