Dubai's largest developer, Emaar Properties, will be launching a luxury tower, The Address Residence Fountain Views in Downtown Dubai district later in the month.
The public launch of the new tower is scheduled for 26th January, as per the invite sent by the developer to its registered real estate agents. This will be the first project to be launched by Emaar this year.
The developer during the month of November 2012 announced the launch of new luxury homes and serviced residences in Downtown Dubai, and begin expansion of the Dubai Mall by building a new high-street boulevard style retail destination.
Emaar recently launched the ‘Sky Collection’, a range of three, four and five bedroom serviced residences, penthouses, and duplexes, all on the uppermost levels of The Address The BVLD hotel and serviced apartment tower. The tower, with 200 hotel rooms and 523 serviced residences, was launched in September 2012, and recorded a sell-out response from investors.
Brookfield Multiplex has begun work on the tower, located in proximity to Burj Khalifa, the world’s tallest tower.
Emaar had sold its units in The Address The BVLD, at Dh.29,000 per square metre, which is more than double the prevailing sales prices in the area.