Emaar says new Dubai launch sold out on day one

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Dubai’s Emaar Properties reported all 280 properties available at its latest Downtown Dubai launch sold out on the day of their public launch, the developer confirmed on Sunday.

Potential customers were given the option to pre-register their interest online for the off-plan serviced residences at The Address Residence Fountain Views in Downtown Dubai and all units were sold out when they were released to the public on a first come, first served basis on Saturday January 26.

“The overwhelming investor response to The Address Residence Fountain Views is another strong testament to the robust property demand in Dubai… [and] not only appealed to residents in the city but also to investors from around the world,” said Ahmad Al Matrooshi, managing director, Emaar Properties.

“We will continue to explore potential development opportunities in line with the growing demand for homes in the city, especially in premier communities such as Downtown Dubai,” he added.

An integral part of the expansion of The Dubai Mall, The Address Residence Fountain Views is directly linked to the world’s largest shopping and entertainment destination.

Residences have views of Burj Khalifa, the world’s tallest building, and the response was similar to Emaar’s launch of serviced residences in The Address The BLVD, also in Downtown Dubai, last May.

The Address Residence Fountain Views is a 55-level dedicated serviced residences development with 280 units offering investors a choice of 1, 2, 3 and 4-bed apartments.

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Posted by: Rajesh

Available- 1,2,3 Bedroom Apartments for sale in Address FOUNTAIN VIEWS at best prices....please call -055 8487487 for more details

Posted by: omar faris

Anyone who waits in a queue to buy property deserves to be treated like that.
In addition, it?s not for Emaar to learn from the past, it?s the investors that do.

Posted by: leo50

the adage that there is one born every minute immediately springs to mind. That does not however justify Emaar or any other such entity for taking advantage once again.

Posted by: Telcoguy

I think your first point is a little bit harsh (yet true, to some point)
The second is totally spot on... nothing else to say here. If people refuse to learn from the past they can not complain
I see all the working of a new RE bubble, I suspect that the goal is to protect the banks but raising the valuation of the property, banks rather have expensive, illiquid assets. Similar to Spain, but much more likely to work here because of a smaller, more closed economy

Posted by: ahmed

it was a rip off,,emaar wanted to create a hype by inviting a lot of people so that the media can talk about it saying its a big turnout, it was more of a PR gimick,,please stop doing this Emaar, have your forgot the past so soon, bad times can come back again if you dont keep a control, people be careful of emaar that is what i can say

Posted by: raghuwan

totally un organized way of selling property ...giving 600 tokens to sell only 170 units just to create hype in the market and about 400 people standing on their feet from 6.30 AM till 4.30 PM .
Very poor treatment given to investors with non-cooperative / rude staff wearing Branded Tshirts incl security personell. It seems Emaar was selling Dhs 10 items to HNWI/ Cash rich clients who came with the cheque book to buy property on cash and were kept waiting for 9 hrs in queue.
Its high time that Emaar should undrstand and value their clients and do not create hype by applying similar process next launch .

Posted by: ahmed

if they would have sold 280, i would have get one, but they didnt even sold half of it, on purpose of course.

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