Emaar Reports Strong Investor Interest For New Property

Dubai-based developer Emaar Properties said that online registration for its latest project in Downtown Dubai, The Address Residence Sky View, was closed within an hour because of strong investor interest.

The company’s website recorded visitor traffic from over 75 countries, it said.

The sales event is being held in Dubai and Riyadh on March 2 2013. While the one in Dubai will be open only to those who have registered online, only legal residents of Saudi Arabia will be eligible to buy in Riyadh, the company stated.

The 50-storey Address Residence Sky View building includes hotel facilities, residence and serviced apartments. All 532 serviced apartments are fully furnished and designed with floor-to-ceiling windows.

The 230 metre-high twin-tower complex also features a ‘Sky Bridge’, which includes a signature restaurant and an infinity pool with amenity deck.

Ahmad Al Matrooshi, managing director, Emaar Properties, said: “The online visitor traffic from more than 75 countries underlines the growing international investor appetite for premium property developments in Dubai, particularly in Downtown Dubai.

“The international interest complements the success of our global roadshows, held most recently in India, where investors were enthusiastic about real estate investment opportunities in Dubai.”

The company held roadshows in the Indian cities of Mumbai and New Delhi last week.

Emaar has been posting a solid recovery since Dubai’s property market crashed in 2008/2009.

The company’s other recent project launches including The Address The BLVD and The Address Residence Fountain Views I & II – all located in Downtown Dubai, also sold-out immediately after the launch.

More than 80 per cent of its projects launched last year have been sold, it said.

The developer’s share prices have also been rising steadily this year, and rallied to a 51-month high earlier this week.