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Tue 29 Oct 2013 02:08 PM

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Emaar launches sales at new luxury Dubai project

Dubai developer offers Sky Collection homes in highest levels of The Address Residence Fountain Views III

Emaar launches sales at new luxury Dubai project

Emaar Properties said on Tuesday it is launching sales of its most luxurious homes within the Sky Collection of The Address Residence Fountain Views III, the developer's newest project in Downtown Dubai.

The Sky Collection homes have a vantage location in the highest levels of the 76-storey tower, which also features a five star premium Address Fountain Views hotel.

Launched recently to strong investor response, The Address Residence Fountain Views III is part of the three-tower dedicated serviced apartment development – the only one of its kind in Downtown Dubai.

The launch comes as Emaar has almost tripled the value of its total real estate sales so far this year. More than AED9bn ($2.45bn) worth of properties have been sold to September 30.

Emaar said in a statement that potential customers can register online for the Sky Collection from 10am, on Wednesday at www.emaar.com.

Sales will be held at the Emaar Sales Centre in Downtown Dubai on November 2, it added.

Customers can choose 4-bedroom and 5-bedroom furnished duplexes and apartments, which range in area from over 2,000 sq ft to over 17,000 sq ft, inclusive of suites and balcony areas

The residences open to views of The Dubai Fountain, the world’s tallest performing fountain, and  of Burj Khalifa, the world’s tallest building.

Ahmad Matrooshi, managing director, Emaar Properties, said: “Across all our new projects in Downtown Dubai, we have set aside an exclusive ‘Sky Collection’ that is specially designed to meet the lifestyle needs of the truly discerning clientele.

"The Sky Collection of The Address Residence Fountain Views III offers a great value proposition, especially for families, with its spectacular location, luxurious range of amenities, elegant finishes and the superb service offered by The Address Hotels + Resorts.”

Last week, Emaar announced net profit of AED1.8bn ($493m) for the first nine months of 2013, up 13 percent on the same period last year.

Revenue for January to September totalled more thatn $2bn and rose 36 percent, the developer said in a statement.

Net profit in the third quarter reached $158m, an increase of 50 percent on Q3 2012, Emaar said, adding that third quarter revenue rose 43 percent to reach $639m.

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