Emaar Properties says it has become the first property development company in the UAE to offer luxurious homes to individual investors at its newest property, the 16-storey Emaar Towers, in the heart of downtown Dubai.

The company has commenced the sale of 168 luxury residential apartments to UAE and GCC nationals and expatriate investors in its state-of-the-art development, located in the Rigga Al Buteen area of Dubai, offering views of the creek, creekside park and Dubai Creek Yacht and Golf Club.

The company further announced that construction of Emaar Towers was 65 per cent complete and that it would be ready for occupancy by October 2003, a record time of 11 months. Emaar has also opened a dedicated sales centre at the new development.

The two residential towers are connected at the ground level with a central entrance atrium and share a three-level secure basement car park. They comprise 24 one-bed suite, 80 two-bed suites, 44 three-bed suites, 12 sub penthouse three-bed suites, six penthouse suites with private roof top terraces, and two sky ridge two-bed suites.

Emaar's recently announced unique zero per cent down payment scheme will also apply for investors buying residential units in Emaar Towers.