Tuesday, September 25, 2012

Emaar's residential offering in Downtown Dubai sold out on first day of launch

The Address The BVLD serviced residences, the latest residential offering by Emaar Properties in Downtown Dubai, has been sold out on the first day of launch.

Customers have been waiting days before the public launch to purchase the residences released for sale at the Emaar Sales Centre, a statement by the company said.

The overwhelming response to the launch of new five-star Address hotel by Emaar and luxurious serviced residences is sufficient evidence about the robust growth of the city’s hospitality and property sectors, which builds on the success of Emaar's project launches early this year.

The Address The BLVD has 200 hotel rooms, 542 serviced residences including studios, single, double, triple and four bedroom units.  Emaar launched several studios, single, double and triple bedroom serviced residence at the launch.

According to Managing Director of Emaar Properties, Ahmad Al Matrooshi, the strong response to the launch of ‘The Address The BLVD’ is an indication of the strong demand for premium developments in established lifestyle communities. Downtown Dubai, is described as ‘The Centre of Now’, and offers investors to be a part of the most sought-after locations in Dubai.

The sell-out of the serviced residences that were put up for sale, indicates strong investor confidence in the development credentials of Emaar, while also emphasizing the positive growth trends seen in Dubai real estate sector.

Due for handover in 2015, The Address The BVLD is located on the Emaar Boulevard at the gateway to Downtown Dubai. Apart from the highest service standards offered by The Address Hotel and Resorts brand, investors also have the option of staying or renting out homes, and the investors also get to benefit from Emaar's rental programme.

The serviced residences offer wonderful views of Burj Khalifa, The Arabian Gulf, The Dubai Fountain, and are in easy access to major business centres in the city. The Address The BLVD will also be directly linked to The Dubai Mall, the world’s largest shopping and entertainment destination, through a new air-conditioned bridge link, apart from easy access to The Burj Khalifa metro station.

The Address The BLVD serviced residences by Emaar is a 340 metre tower, the second tallest in Downtown Dubai, after the iconic Burj Khalifa. The 63-storey tower is expected to be ready by 2015, and work on the project is likely to begin soon, the statement said.

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