Dubai developer chooses potential investors from 10,000 applicants for $8m+ villas
Just 70 super rich investors have been selected by developer Emaar for the first viewing of villas on the new Dubai Hills project.
The investors – chosen from over 10,000 who have applied to buy properties on the luxury project – will be shown detailed plans and pricing structures on December 8, at a secret location in Dubai. Arabian Business – which has chosen not to reveal the location – understands that the villas will be priced from AED30m ($8.1m) upwards.
When first launched in June as a joint venture between Emaar and Meeras, the project was described as “By Invitation Only” with all applicants asked to fill in a detailed questionnaire, including whether they hold any “Executive Director” positions, their employment and marital status.
“From these Emaar selected a few thousand initially, and of those, just 70 have been told they will get the first viewing next Sunday,” said a source close to the project.
Just 600 plots are being put up for sale in Dubai Hills, with “small groups” of investors being invited to purchase villas on different dates.
“More than 10,000 people have already registered an interest – Dubai has not seen anything like this before. This will be a new level of luxury in the emirate, but also very exclusive – it’s something a lot of people want to be part of, but Emaar is going to be very selective this time,” the source added.
According to Emaar’s website, the project is being launched within the first phase of Mohammed Bin Rashid City and will boast “spectacular views over the majestic Dubai skyline and a world class 18-hole golf course.”