Emaar Properties has launched work on its latest residential projects in the Emirate of Dubai, in the Dubai Creek area, with two residential towers, Creek Waters 1 and Creek Waters 2.
The two projects are twins in terms of design, and they consist of 50 floors and include a variety of apartments, townhouses and penthouses. The two towers will be developed on Creek Island of the Dubai Creek Harbor project.
The first project, Creek Waters 1, was launched last April, and after the high demand for the project from investors, Emaar launched the second project, Creek Waters 2, about a month later.
Emaar succeeded in a record time in selling more than 90% of the off-plan units of the two residential projects, and it is expected that construction and construction work will begin in the two projects after about 5 months from now, knowing that the expected delivery date will be in the last quarter of the year 2027.
In addition to the view of the new project on the Dubai Creek, the last 50th floor of each tower includes a penthouse of 8,198 square feet and includes an independent swimming pool and consists of five rooms. .
Each project also includes 8 independent townhouse units on the ground floor of each project, while one tower consists of four types of apartments, and as for the prices of the first tower, they start from 1.6 million dirhams for a room and a hall, and 2.2 million dirhams for two rooms and a hall, and 3 million dirhams for three rooms and a hall, and 6.2 million dirhams for four rooms and a hall.
As for the second tower, Creek Waters 2, prices start from 1.7 million dirhams for a room and a hall, 2.3 million dirhams for two rooms and a hall, 3.2 million dirhams for three rooms and a hall, and 6.2 million dirhams for four rooms and a hall.
With Emaar launching the two new towers project, they will be among the company’s last projects on Dubai Creek Island, which today includes a number of completed projects and others under construction, including The Address Hotel, one of the company’s flagship luxury brands.
In August 2022, Emaar announced its acquisition of the entire capital of Dubai Creek Harbor, the legal owner of the Dubai Creek Harbor project, and the value of the deal amounted to 7.5 billion dirhams, paid equally in cash and shares in Emaar Properties to Dubai Holding Company (the seller). , making Dubai Holding the second largest shareholder in Emaar.
It is worth noting that the “Dubai Creek Residences” project was launched in partnership between “Emaar Properties” and “Dubai Holding” in October 2014, and it is the first residential complex within the “Dubai Creek” project.
In the first quarter of 2023, Emaar Properties recorded revenues amounting to 6.3 billion dirhams, supported by the activity in the tourism sector, retail sales, as well as the increase in demand for real estate projects in Dubai. The company also achieved real estate sales in the first quarter of this year, amounting to 9.2 billion dirhams, an increase of 11% compared to the first quarter of last year, and the cumulative sales volume of real estate projects amounted to 55.7 billion dirhams.
2023-08-13 22:09:10
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