Real Estate

News in brief

The BLVD Crescent ... a rendition.

Emaar launches new residential projects

EMAAR Properties, a leading global property developer, has launched the second phase of BLVD Crescent in Downtown Dubai, Dubai, UAE.

BLVD Crescent features two towers of 38 and 20 storeys set on a podium, located on Mohammed Bin Rashid Boulevard, which encircles Downtown Dubai. The second phase involves the construction of the 20-storey tower which will be home to more than 70 one- to three-bedroom apartments.

Opening up to expansive views of the boulevard, Old Town and The Opera District, each apartment in BLVD Crescent maximises vistas of the city. The carefully landscaped podium level features a web of interconnected waterways and pools of varying depth.

Emaar Properties has also unveiled a new collection of Mira Oasis townhomes in Reem, an integrated lifestyle development in Dubai offering a choice of exotic outdoor leisure activities. The new launch follows the strong investor demand to the earlier launches of Mira Oasis residences.

The new phase of Mira Oasis includes more than 480 three- and four-bedroom townhouses that draw their design inspiration from contemporary styles. Set amidst landscaped green spaces and water features, all residences have large balconies, modern fittings and fixtures, driveways and courtyards.

Meanwhile, Emaar is offering long-term investors and end-users the opportunity to register for the Emaar Preferred Access programme. Accordingly, investors who make a minimum down payment of 30 per cent of the total value of the property and maintain ownership until hand-over is completed, will be offered preferred access to new launches and allowed to make purchases through the programme.


Dubai Lagoon secures $92m investment

Officials at the signing ceremony.

Officials at the signing ceremony.

SCHON Properties, a leading regional property developer, has successfully secured an investment of Dh339 million ($92 million) from Xanadu Real Estate Development for the completion of the Dubai Lagoon project in Dubai, UAE. In addition, it has also signed a Dh678-million ($184.6 million) contract with PGS Gulf Contracting Company for the construction of the project.

Commenting on the deals, Danial Schon, vice-president of Schon Properties, says: “The Schon-Xanadu partnership has instructed PGS Gulf Contracting to expedite completion of the project while maintaining the highest quality. Given its location and quality construction, Dubai Lagoon is poised to be one of the best master-developed communities in Dubai.”

On his part, Cenc Yabas of PGS Gulf Contracting says: “Having a team of over 2,000 personnel on our site, we are more than equipped for this job. Deliveries are expected to commence starting March 2016 until December 2016. Mobilisation works have commenced onsite. Furthermore, construction prices have been covered through the contract with the developer. We are all set to go.”


Aldar unveils three developments worth $1.35bn

ALDAR Properties, Abu Dhabi’s leading listed property company, has launched three new major residential developments worth a total of Dh5 billion ($1.36 billion) in prime areas of Abu Dhabi, including in investment zones where property can be purchased by non-UAE nationals.

Construction work on the three developments – the Ansam apartments, Al Hadeel and Nareel Island – is scheduled to begin in 2015.

The Ansam development, Phase One of which comprises 540 golf fairway apartment units, overlooks the award-winning Yas Links Golf Course on Yas Island. It comprises four Andalusian-inspired apartment complexes with a variety of studio, one-, two- and three-bedroom apartments. Ansam also overlooks the Yas waterways and is in close proximity to Yas Mall, Yas Waterpark, Ferrari World and Yas Beach.

Just across the bay from Yas Island at Al Bandar on the popular Al Raha Beach Waterfront, Aldar will develop the Al Hadeel mid-rise residential development. It will offer a mix of 230 units, including studios, one-, two- and three-bedroom apartments, as well as well-appointed townhouses at the waterfront promenade.

The third development, meanwhile, is located on Nareel Island, which actually  comprises two islands each with bespoke waterfront villa plots featuring a total of 143 villas. The development, exclusive to UAE nationals, is located next to the prestigious Emirates Palace and Etihad Towers developments overlooking the Arabian Gulf, close to the Al Bateen area of central Abu Dhabi.

Nareel’s masterplan has been carefully created in accordance with the Urban Planning Council’s development guidelines.

Abubaker Seddiq Al Khoori, chairman of Aldar Properties, says: “We are currently exploring 23 exciting real estate developments, excluding government projects, three of which have been announced as part of the next phase of growth of our business.”