The two biggest Property Developers start their new projects in Dubai
10/03/2013
After the huge impacts of economic crisis in Dubai’s property market, the two prestigious and biggest property developers in the Emirate are now showing up their strong determination to pursue what they have committed to their investors. They are as follows: Nakheel Properties which is previously owned by Dubai Holding, a global investment company that both develops and manages lots of companies that focus more on investments, financial services, real estate, business parks, telecommunications, and hospitality; but now is owned by Dubai Government and the builder of the well-known Palm Trilogy in Dubai, such as Palm Jumeirah, Palm Jebel Ali, and Palm Deira; and the last one is Emaar Properties which is the master developer of Downtown Dubai and the builder of the Emirate’s newly-iconic tower, Burj Khalifa, due to its stunning height of 828 meters.
Both of them unveiled their new plans for this year 2013. For Nakheel, it is currently focusing more on its existing man-made islands, Palm Jumeirah. In fact, it has recently announced that it is about to build a total of 170 residential units on the latter before the H1 2013 ends. It will be in its Azure Residences project which is set to be completed within two years from now. Furthermore, the project will have a total of 140 one-bedroom apartments which are being priced at AED2.3 million as well as AED4.2 million for its 30 two-bedroom units. In addition, the company is also planning to build another 33 studio apartments in its newly-launched project, Club Vista Mare, which were already sold out during the launching date itself.
Then, as builder of the tallest tower in the world, Emaar Properties is once again launching its new serviced-apartments project, The Address Residence Sky View, which will be located in Downtown Dubai that will have hundreds of units as well as a 50-storey hotel project designed by the Architects of Burj Khalifa: Skidmore, Owings, & Merrill (SOM).
According to Mohamed Alabbar, Chairman of the Company, he said that the above-mentioned residential project of Emaar will be another iconic structure to the Emirate’s skyline in particular because of its offers such as unparalleled views of Downtown Dubai and a premium choice of home in that most prestigious sought-after destination for investors from around the world. Then, he further said that if it is once completed, it will become the referral point for all future projects from both design and architecture to its host of services as the company also focuses more on creating prime properties that can contribute to the Emirate’s improving economic growth. As a matter of fact, the company has already launched a number of projects since last year, which are located in Downtown Dubai, and Arabian Ranches as well as its first ever-residential community project in Mohammed Bin Rashid City which will be its largest real estate development project in the Middle East region along with Dubai Holding.
Both of them unveiled their new plans for this year 2013. For Nakheel, it is currently focusing more on its existing man-made islands, Palm Jumeirah. In fact, it has recently announced that it is about to build a total of 170 residential units on the latter before the H1 2013 ends. It will be in its Azure Residences project which is set to be completed within two years from now. Furthermore, the project will have a total of 140 one-bedroom apartments which are being priced at AED2.3 million as well as AED4.2 million for its 30 two-bedroom units. In addition, the company is also planning to build another 33 studio apartments in its newly-launched project, Club Vista Mare, which were already sold out during the launching date itself.
Then, as builder of the tallest tower in the world, Emaar Properties is once again launching its new serviced-apartments project, The Address Residence Sky View, which will be located in Downtown Dubai that will have hundreds of units as well as a 50-storey hotel project designed by the Architects of Burj Khalifa: Skidmore, Owings, & Merrill (SOM).
According to Mohamed Alabbar, Chairman of the Company, he said that the above-mentioned residential project of Emaar will be another iconic structure to the Emirate’s skyline in particular because of its offers such as unparalleled views of Downtown Dubai and a premium choice of home in that most prestigious sought-after destination for investors from around the world. Then, he further said that if it is once completed, it will become the referral point for all future projects from both design and architecture to its host of services as the company also focuses more on creating prime properties that can contribute to the Emirate’s improving economic growth. As a matter of fact, the company has already launched a number of projects since last year, which are located in Downtown Dubai, and Arabian Ranches as well as its first ever-residential community project in Mohammed Bin Rashid City which will be its largest real estate development project in the Middle East region along with Dubai Holding.
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