Emaar Properties has commenced sales of premium residential villas at the Arabian Ranches, the Desert Paradise in Dubai. The multi-billion dirham desert resort constructed around two golf courses, equestrian and polo grounds, a network of man-made lakes and health spas covers an area of 3,000 acres.
The company confirmed that full-scale construction is underway at the project's desert location. The project will be constructed in several phases and the first phase two storey detached villas is expected to be ready by 2004.
Arabian Ranches will comprise luxurious one and two storey single-family homes from 2,500 to 4,000 square feet, incorporating smart technology. More than 14 local and international construction companies and consultancies have been awarded contracts for various components of the project.
Besides Arabian Ranches, Emaar currently has eight major real estate projects under development including Dubai Marina, Emirates Hills, the Lakes, the Meadows, the Springs, the Greens, Emaar Towers and the Gold & Diamond Park.
Emaar Properties is a Public Joint Stock Company listed on the Dubai Financial Market. Besides real-estate projects Emaar also owns and manages subsidiaries such as Dubai Bank, Amlak Finance, Emrill, a joint venture with the United Kingdom’s Carillion and technology company Sahm Technologies. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
