Emaar continues selling the remaining units of its project in Downtown Burj Dubai
16/02/2013
As a Global Real Estate Consultancy Company, Jones Lang LaSalle believed that there would be more positive signs of recovery in line with all segments of the Emirate’s property market within this year 2013. In other words, as Chief Executive Officer of JLL MENA region, Allan Robertson said that the Dubai Realty market will continue its on-going economic growth after a few years of negative impacts of economic crisis.
One of the positive proofs for such continued recovery is the increasing demand for properties in well-established developments such as Dubai Marina, Palm Jumeirah, and Downtown Burj Dubai in which the Emaar Properties, known as the largest property developer in the Emirate, is planning to sell the remaining units for its recently-launched project: The Address Residence Fountain Views.
Based on the report, the investors who were particularly not able to purchase a property during the previous launching of the above-mentioned project were exclusively invited as well as the customers of Emaar Square which is also one of the company’s commercial properties in Dubai were informed that the latter would be holding a Sales Event at the Emaar Square Building No. 3 today, February 16, 2013. So, all the tenants of the building were temporarily informed that they could not be able to use the main parking entrance for both phase 1 and ground floor main entrance for awhile.
Moreover, the above-mentioned project which is a 60-level dedicated serviced residences development is planned to be completed three years from now. So far, all the units of the project have been already selling out by Emaar Properties as it is trying to fully recover from the economic downturn. In fact, it has already witnessed positive results for its Net Profit in particular; for it has impressively gained a total of AED 2.119 billion in 2012 that surpassed its 2011 Net Profit. It was indeed generated by the company’s strong growth in its recurring revenues from the following: shopping malls, retail, hospitality, and leisure businesses.
One of the positive proofs for such continued recovery is the increasing demand for properties in well-established developments such as Dubai Marina, Palm Jumeirah, and Downtown Burj Dubai in which the Emaar Properties, known as the largest property developer in the Emirate, is planning to sell the remaining units for its recently-launched project: The Address Residence Fountain Views.
Based on the report, the investors who were particularly not able to purchase a property during the previous launching of the above-mentioned project were exclusively invited as well as the customers of Emaar Square which is also one of the company’s commercial properties in Dubai were informed that the latter would be holding a Sales Event at the Emaar Square Building No. 3 today, February 16, 2013. So, all the tenants of the building were temporarily informed that they could not be able to use the main parking entrance for both phase 1 and ground floor main entrance for awhile.
Moreover, the above-mentioned project which is a 60-level dedicated serviced residences development is planned to be completed three years from now. So far, all the units of the project have been already selling out by Emaar Properties as it is trying to fully recover from the economic downturn. In fact, it has already witnessed positive results for its Net Profit in particular; for it has impressively gained a total of AED 2.119 billion in 2012 that surpassed its 2011 Net Profit. It was indeed generated by the company’s strong growth in its recurring revenues from the following: shopping malls, retail, hospitality, and leisure businesses.
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