Emaar sees 'phenomenal' demand for new Dubai project

Emaar Properties has said it has seen "phenomenal" inital interest from investors for its newly launched The Address Residence Sky View project in Downtown Dubai.

The Dubai developer said it closed online registration for the project in less than one hour following huge investor interest for the residences and serviced apartments.

Emaar.com recorded visitor traffic from more than 75 countries, with the sale in Dubai open only to those who have registered online on March 2.

The investor interest for The Address Residence Sky View follows sell-out response to other recent Emaar project launches including The Address The BLVD and The Address Residence Fountain Views I & II.

Ahmad Al Matrooshi, managing director, Emaar Properties, said: "The phenomenal customer interest in The Address Residence Sky View is another strong testament to their growing confidence in Emaar's development credentials and Dubai's property sector.

"The online visitor traffic from more than 75 countries further underlines the growing international investor appetite for premium property developments in Dubai, particularly in Downtown Dubai, which is one of the most-sought after lifestyle destinations in the world.

"The international interest complements the success of our global roadshows, held most recently in India, where investors were enthusiastic about real estate investment opportunities in Dubai."

The Address Residence Sky View, at a height of over 230 metres, will feature 532 serviced furnished apartments and will be the latest addition to The Address Hotel + Resorts' portfolio and a flagship property for the brand.

Emaar said that the 50-storey hotel, residence and serviced apartment twin-tower complex has been designed by the architects of Burj Khalifa, Skidmore, Owings & Merrill.

The property will also serve as a business hotel of about 180 keys, it added.

The project will also feature a unique 'Sky Bridge', which includes a signature restaurant, infinity pool with amenity deck, offering 360-degree vistas of Downtown Dubai and panoramic views of the Gulf.

The sales event for The Address Residence Sky View is being held simultaneously in Dubai and Riyadh. Potential customers for the Riyadh launch only have to visit Four Seasons Hotel Riyadh, Kingdom Centre, and will be offered purchase opportunity on a first come, first served basis.