Emaar’s af­ford­able plan… and more

Firm be­lieves lower prices will tempt buy­ers

7 Days in Dubai - - FRONT PAGE - By Sar­wat Nasir @Sar­watNasir sar­wat@7days.ae

Emaar has an­nounced the con­struc­tion of a new res­i­den­tial dis­trict it said will con­tain ‘af­ford­able’ homes.

The Emaar South project will be lo­cated in the new desert com­mu­nity of Dubai South, a few min­utes away from Al Mak­toum In­ter­na­tional Air­port.

Mo­hammed Alab­bar, Chair­man of Emaar Prop­er­ties, said the de­vel­oper is at­tempt­ing to make homes more af­ford­able for res­i­dents.

The real es­tate firm is ad­ver­tis­ing prices for town­houses start­ing at Dhs699,888, which some agen­cies said is con­sid­er­ably lower than nearby com­mu­ni­ties.

Emaar South was an­nounced ahead of the prop­erty in­dus­trial show­case Ci­tyscape Global, which gets un­der­way in Dubai to­day. Alab­bar said: “We are pas­sion­ate about pric­ing. We would like to have a rea­son­able mar­gin.

“We ask our­selves how we can keep push­ing prices at a rea­son­able level so that af­ford­abil­ity is there – all while keep­ing our share­hold­ers and part­ners happy.”

Alab­bar de­clined to state the cost of the project, but said it is “worth bil­lions”.

Emaar South will con­tain more than 15,000 homes, re­tail out­lets, an 18hole golf course and club­house, three and four-star ho­tels, K-12 schools and leisure fa­cil­i­ties. There will also be parks, tree-lined boule­vards, pedes­trian walk­ways and bi­cy­cle trails. The firm said there would be ac­cess to pub­lic trans­port, but did not specif­i­cally say if this would be the ex­panded metro line to the Expo 2020 site. Thomas TK, a prop­erty agent from Ch­esler Real Es­tate, be­lieves buy­ers will be tempted by the dis­trict’s apart­ments and town­houses. He said: “I think if peo­ple buy it for the price it is go­ing for now, the price will likely in­crease to more than Dhs1 mil­lion soon. “Other projects in that area are much more ex­pen­sive. Down in Jebel Ali, Badrah by Nakheel are more ex­pen­sive [prop­er­ties] than what Emaar is of­fer­ing.” Ann Boothello, from du­biz­zle, said there has been a rise in de­mand for “in­land com­mu­ni­ties”. She said: “Dubai South is at­tract­ing the in­ter­est of de­vel­op­ers, es­pe­cially ahead of Expo 2020, given its close prox­im­ity to the site.” Alab­bar did not re­veal the com­ple­tion date of the project.

CON­FI­DENT: Alab­bar said Emaar South will be sought af­ter, but would not say when it would be built or how much it will cost

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