Dubai’s Emaar Properties has announced the launch of the second phase of BLVD Crescent, a residential property in Downtown Dubai.
BLVD Crescent, located on the Mohammed Bin Rashid Boulevard, features two towers of 38 and 20 storeys set on a podium.
The second phase of the project will have over 70 apartments including one, two and three bedroom units within a 20-storey tower, Emaar said in a statement.
“With Downtown Dubai witnessing strong demand, driven by the confidence of international investors to take advantage of Dubai’s position as a safe hub for investment, BLVD Crescent Tower II, which follows the successful launch of the first tower in Dubai, Abu Dhabi, Almaty, and Shanghai earlier this year, will once again underline the city’s burgeoning real estate industry,” said Arif Amiri, chief commercial officer, Emaar Properties.
Emaar will launch BLVD Crescent Tower II simultaneously in the three cities of Dubai, Abu Dhabi and Kuwait City with online registration starting on June 4, 2014 at 10am.
Sales will be held on June 7 at Emaar Pavillion in Dubai, Emaar Sales Centre in Abu Dhabi and at The Regency in Kuwait City, the developer said in a statement.
Cashing in on the revival of Dubai’s real estate sector, Emaar has launched a number of residential developments, including two phases of Mulberry at Park Heights in Dubai Hills Estate and various villa communities in Arabian Ranches.
Dubai’s largest listed property developer reported a 55 per cent growth in its first quarter net profit to reach Dhs863 million.
Revenue from sales of apartment blocks, commercial units and land in the first quarter of this year rose by 2.9 per cent year-on-year to Dhs653 million, the developer said.
Emaar’s chairman Mohammed Alabbar said that he expected the firm’s profits to quadruple by 2018 to reach Dhs10.93 billion. He predicted the net profit to hit Dhs3.07 billion in 2014, up from Dhs2.57 billion from the previous year.