Emaar had on showcase exclusive villas, rare penthouses and unique apartments across a variety of its already-established communities including Arabian Ranches, The Springs, The Meadows, Hattan and Dubai Marina, and the up-and-coming Downtown Burj Dubai. Most of the homes are ready to move into and others are nearing completion.
"The enthusiastic response from investors and home-owners underscores the buoyancy of the Dubai property market and the trust they place in Emaar's master-planned projects," said Ahmed Al Matrooshi, UAE Managing Director, Emaar Properties. "The first-ever special sale of Emaar's residences was held to give homeowners a rare opportunity to own a home in some of Dubai's well-established freehold communities."
In an unprecedented display of investor enthusiasm to any real estate sale in Dubai, potential investors and homeowners started arriving to the Downtown Living Sales Center much earlier than the opening time of 9am - some booking an early place by the registration counter as early as Saturday night to assure a chance to own one of Emaar's Special Collection homes.
Emaar's team of experienced customer service representatives were on hand to explain the features of the homes that make them truly unique.
"The residences on sale including the exclusive villas, penthouses and apartments have value-added features, which make them prized investments," said Mr Matrooshi. "Apart from offering all modern amenities of living in a luxurious neighbourhood, the homes also offered varying lifestyles such as marina or golf-side living."
Emaar has handed over more than 14,000 homes in master-planned residential communities in Dubai. "The success of the one-day sale underpins the fact that quality residential developments have takers at all times," said Mr Matrooshi. "It also reiterates Emaar's credentials as a property developer of choice, especially for premium homes."
Emaar pioneered the freehold era in Dubai with the Emirates Hills development in Emirates Living - a series of master-planned projects that offer all community amenities in one neighbourhood. With Arabian Ranches and Dubai Marina, Emaar added value to community living by introducing leisure elements such as proximity to the golf course and marina. Downtown Burj Dubai, the up-and-coming development in the heart of Dubai, has at its epicenter Burj Dubai, the tallest tower in the world when completed and The Dubai Mall, the world's largest shopping mall.
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Emaar's Special Collection sale of residences gains outstanding response
- United Arab Emirates: Saturday, September 16 - 2006 at 10:21
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The first-ever Special Collection sale of residences hosted by Emaar Properties recently at its Downtown Living Sales Center fetched outstanding response with about 900 registrations made just in the opening hours of the one-day event.
Underscores buoyancy of Dubai property market
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Posted by Lara Lynn Golden, News EditorSaturday, September 16 - 2006 at 10:21 UAE local time (GMT+4)
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This article was updated on Sun Feb 04 2007.
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About Emaar Properties PJSC:
Emaar Properties, the Dubai-based Public Joint Stock Company and one of the world's largest real estate companies, is listed on the Dubai Financial Market and is part of the Dow Jones Arabia Titans Index. The company recently announced that its net profits for the half year ended 30 June 2006 reached AED 3.053 billion (US$0.831 billion) - a significant gain of 21 per cent over the first-half 2005 results of AED 2.533 billion (US$0.690 billion) - reflecting the remarkable growth the company has gained since its inception in 1997.
With more than 14,000 homes handed over to customers, Emaar has several major real estate projects under various stages of development in Dubai including Arabian Ranches, Dubai Marina, Emirates Hills, The Views, The Meadows, The Springs, The Lakes and The Greens. The company also owns and manages the Gold and Diamond Park.
Emaar has marched ahead with the construction of its AED 73 billion (US$20 billion) Burj Dubai Downtown development, which comprises the Burj Dubai - the tallest tower in the world when completed in 2008, The Dubai Mall, Burj Dubai Business Hub, The Lofts, The Old Town, The Old Town Island, Burj Dubai Boulevard, The Residences, Burj Views, man-made lakes, landscaped parks and gardens.
The company has joint ventures and projects across the region covering India, Egypt, Turkey, Morocco, Bahrain, Syria, Jordan, Pakistan, Lebanon, Tunisia and Saudi Arabia. In July 2006, Emaar also announced the opening of a full-fledged representative office in China, thus becoming the first Middle East property developer to effectively tap the potential offered by the world's second largest economy. Emaar also entered the US market by acquiring John Laing Homes, the second largest privately held homebuilder in the U.S., thus creating one of the world's leading real estate developers in residential homebuilding.
In a move that scaled up its core competency in product sales across the international arena, particularly the Western hemisphere, Emaar acquired Hamptons International, the UK-based subsidiary of premier property developer Wheelock Properties (Singapore) Ltd in a deal worth AED 562.45 million (US$153.05 million). The acquisition covers Hamptons' UK offices and its joint venture with CB Richard Ellis Hamptons International in the UK and Hamptons International Oman; and will build Emaar's international network of offices to over 130 over the next few years.
Last year the property developer announced plans to aggressively expand the retail sector with investments of over AED 15 billion (US$4 billion) to develop approximately 150 malls in the larger emerging markets of the Middle East, North Africa (MENA) and the Indian subcontinent. In addition, Emaar has teamed up with Giorgio Armani S.p.A to build and manage 10 Armani hotels and resorts across the world; an Armani hotel will feature in Emaar's flagship Burj Dubai tower.
Earlier this year the company announced plans to expand its investments into the education and healthcare business. The education initiative will involve the establishment of international schools in the MENA region and India, which will offer premium quality education and an integrated curriculum for students ranging from kindergarten to tertiary levels. Emaar's healthcare diversification will see the company invest around AED 18.35 billion (US$5 billion) over the next decade in the MENA and South Asia markets with the construction of hospitals, clinics and medical centres and the investment in the provision of world-class healthcare services.
While continuing to actively pursue expansion in its core business of innovative, high quality real estate development, Emaar has diversified into related business lines to further build value for its 59,000 shareholders, which includes the Government of Dubai. Emaar owns and manages EMRILL, a joint venture with the UK-based Carillion which provides innovative property and facilities management services. Emaar also holds 30 per cent equity in Dubai Bank, focused on retail and commercial banking and is the majority shareholder in Amlak Finance, UAE's leading Islamic home financing company.
For further information, please contact:
Kelly Home / Nivine William
ASDA'A Public Relations
Exclusive Affiliate of Edelman PR Worldwide in Middle East & North Africa
Tel: (+971 4) 335 5969
Fax: (+971 4) 335 6080
Emaar Properties, the Dubai-based Public Joint Stock Company and one of the world's largest real estate companies, is listed on the Dubai Financial Market and is part of the Dow Jones Arabia Titans Index. The company recently announced that its net profits for the half year ended 30 June 2006 reached AED 3.053 billion (US$0.831 billion) - a significant gain of 21 per cent over the first-half 2005 results of AED 2.533 billion (US$0.690 billion) - reflecting the remarkable growth the company has gained since its inception in 1997.
With more than 14,000 homes handed over to customers, Emaar has several major real estate projects under various stages of development in Dubai including Arabian Ranches, Dubai Marina, Emirates Hills, The Views, The Meadows, The Springs, The Lakes and The Greens. The company also owns and manages the Gold and Diamond Park.
Emaar has marched ahead with the construction of its AED 73 billion (US$20 billion) Burj Dubai Downtown development, which comprises the Burj Dubai - the tallest tower in the world when completed in 2008, The Dubai Mall, Burj Dubai Business Hub, The Lofts, The Old Town, The Old Town Island, Burj Dubai Boulevard, The Residences, Burj Views, man-made lakes, landscaped parks and gardens.
The company has joint ventures and projects across the region covering India, Egypt, Turkey, Morocco, Bahrain, Syria, Jordan, Pakistan, Lebanon, Tunisia and Saudi Arabia. In July 2006, Emaar also announced the opening of a full-fledged representative office in China, thus becoming the first Middle East property developer to effectively tap the potential offered by the world's second largest economy. Emaar also entered the US market by acquiring John Laing Homes, the second largest privately held homebuilder in the U.S., thus creating one of the world's leading real estate developers in residential homebuilding.
In a move that scaled up its core competency in product sales across the international arena, particularly the Western hemisphere, Emaar acquired Hamptons International, the UK-based subsidiary of premier property developer Wheelock Properties (Singapore) Ltd in a deal worth AED 562.45 million (US$153.05 million). The acquisition covers Hamptons' UK offices and its joint venture with CB Richard Ellis Hamptons International in the UK and Hamptons International Oman; and will build Emaar's international network of offices to over 130 over the next few years.
Last year the property developer announced plans to aggressively expand the retail sector with investments of over AED 15 billion (US$4 billion) to develop approximately 150 malls in the larger emerging markets of the Middle East, North Africa (MENA) and the Indian subcontinent. In addition, Emaar has teamed up with Giorgio Armani S.p.A to build and manage 10 Armani hotels and resorts across the world; an Armani hotel will feature in Emaar's flagship Burj Dubai tower.
Earlier this year the company announced plans to expand its investments into the education and healthcare business. The education initiative will involve the establishment of international schools in the MENA region and India, which will offer premium quality education and an integrated curriculum for students ranging from kindergarten to tertiary levels. Emaar's healthcare diversification will see the company invest around AED 18.35 billion (US$5 billion) over the next decade in the MENA and South Asia markets with the construction of hospitals, clinics and medical centres and the investment in the provision of world-class healthcare services.
While continuing to actively pursue expansion in its core business of innovative, high quality real estate development, Emaar has diversified into related business lines to further build value for its 59,000 shareholders, which includes the Government of Dubai. Emaar owns and manages EMRILL, a joint venture with the UK-based Carillion which provides innovative property and facilities management services. Emaar also holds 30 per cent equity in Dubai Bank, focused on retail and commercial banking and is the majority shareholder in Amlak Finance, UAE's leading Islamic home financing company.
For further information, please contact:
Kelly Home / Nivine William
ASDA'A Public Relations
Exclusive Affiliate of Edelman PR Worldwide in Middle East & North Africa
Tel: (+971 4) 335 5969
Fax: (+971 4) 335 6080
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