Emaar Launches First Project Within Mega-Development Reem

Dubai property developer Emaar plans to launch the sale of townhouses in Mira, the first residential community in its mega-development Reem, this month.

Mira includes 188 Mediterranean-style townhouses with prices starting from Dhs988,888 for three-bedroom residences.

Emaar is currently launching the first phase of the project, with the homes scheduled for hand-over in 2016, it said in a statement.

The master-development, Reem, located next to the Arabian Ranches extension in Dubai, will include several residential communities to be unveiled in phases, Emaar said.

Alongside residential areas, the gated community will also include a desert botanical park, camping facilities, sand surfing and camel riding trails, a go-karting track, dune buggies, rock climbing wall, a skate park, a cricket pitch, football fields, a miniature golf course and an amphitheatre outdoor cinema.

It will also feature interactive fountains, walkways and a centrepiece water feature.

Ahmad Al Matrooshi, managing director, Emaar Properties, said: “We are giving a new interpretation to leisurely lifestyle with Reem, which meets the growing demand for villas and townhouses in Dubai.”

The company plans to hold the sale for the townhouses on April 13, 2013 in Emaar Square, Downtown Dubai.

Reem is the latest residential project to be launched by Emaar in Dubai this year, following The Address Residence Sky View, The Address Residence Fountain Views I and II and The Address The BLVD – all in Downtown Dubai – and CASA, a villa community in Arabian Ranches.

Emaar has been at the forefront of the wider real estate recovery in Dubai during the past few months.

Last month, the developer revealed that revenues from the sale of apartments more than doubled to Dhs2.5 billion in 2012, compared with Dhs1.1 billion in 2011.

The company’s shares have risen over 40 per cent so far this year.