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Sun 15 Dec 2013 12:30 PM

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Emaar’s Vida Residence sells out in 90 minutes

Global launch sees overnight queues in Singapore

Emaar’s Vida Residence sells out in 90 minutes

Emaar’s Vida Residence project – part of The Hills – sold out in just 90 minutes in four cities, Arabian Business understands.

The simultaneous launch was held on Sunday in Dubai, Abu Dhabi, Singapore and Riyadh, with just 136 unites up for sale. Starting prices were believed to be from $790,000.

“They went instantly. It was done on a first come first serve basis, with hundreds of people queuing overnight,” one buyer told Arabian Business.

Distinguished by its low-rise architecture, Vida Residence, The Hills are set in two 12 to 15-storey buildings. The homes will feature contemporary finishes and design, with chic colour schemes.

Announcing the launch last week, Ahmad Al Matrooshi, managing director of Emaar Properties, said: “Dubai serves as the go-to city for a vast youthful demography of over 2 billion people below the age of 25 years across the Middle East, Africa, and Asia. Vida Residence, The Hills is designed to serve as a new lifestyle destination for discerning youth and families.”

Only a week ago, the first batch of villas released on Emaar’s new Dubai Hills sold out in just one hour.

Just 70 specially selected buyers were invited to bid for plots at a private launch last Sunday at The Armani Hotel, Dubai, with the villas priced at $7m upwards. Almost all were sold in the first hour, with several buyers investing in villas worth over $10m.

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Concerned Investor 6 years ago

I can speak for Riyadh since I was there. Firstly it didnt sell out in 90 minutes as claimed. In Riyadh the units were sold out by 12 pm having started at 9am. It was very poorly managed, the people who arrived early were asked to queue in the wrong locations, resulting in them being back in lines once they discovered where were correct queues were. At the entry we were all given numbers to maintain order, however the order was not maintained after the first 10 people were entertained - with locals being given obvious preference over the expats present. Apart from the initial 10 people, only 1-2 expats were given the opportunity to purchase the remaining units available.

reader 6 years ago

i fully agree with you, i got the same information from someone who was there,,the Saudis very given preference and the expats were pushed aside,every fifteen minutes the prices were going up and up which is very bad Emaar, don't take undue advantage of situations , don't forget its the people who buy and invest and don't treat them like a roulette machine