ALBAWABA – Dubai based real estate developer Emaar, known for their Burj Khalifa, is investing 96 billion dirhams ($21 billion) in Dubai’s flourishing residential market, as reported by Bloomberg, by developing two new premium neighborhoods.
According to a statement, Emaar Properties PJSC has begun selling in The Heights Country Club, an approximately 7.5 million square meters property with a 55-billion-dirham market value. Grand Club Resort, a 41-billion-dirham project with a health center and over 5.5 million square meters of space, is also offering residences up for sales next to their pre-launched “The Oasis”
Chairman of the company, Mohamed Alabbar, said in the statement: "Emaar is not just contributing to Dubai's progress; we are leading the way, creating exclusive lifestyle destinations with unprecedented amenities that set new global standards.”
Over the last year, according to Gulf News, Emaar Development's stock has increased by 45%, while the parent firm Emaar Properties' stock has increased by 47%. Utilizing the newly established Dubai Hills Estate, the developer had already introduced The Beachfront, The Valley, and The Oasis projects.
The Heights Country Club will be situated in one of Dubai's developing neighborhoods, the Al Yalayis district. The developer's ongoing The Oasis project is located close to Sheikh Zayed Bin Hamdan Al Nahyan Street, where the Grand Club project is located. Eventually, there will be more than 7,000 residential units in The Oasis.
