Real estate brokers in Dubai are continuing to use images of Emaar’s Dubai Creek Tower project in online advertising, even as questions are raised regarding its development.
Earlier this week, Arabian Business reported on top Dubai real estate brokers using rendered images of the Dubai Creek Tower despite the project remaining on indefinite hold. Advertisements promise “panoramic” and “theatrical” views of the tower, but the project has remained undeveloped for over two years.
Edge Realty, Aeon & Trisl Real Estate Brokers, D&B Properties, Peace Homes Real Estate, and Y S M Real Estate are among those brokers that are still using the images in their online advertising.
The Dubai Creek Tower was suspended in 2020, and there has been no indication of the construction restarting two years later, although Emaar has yet to officially comment on the status of the development, the company has removed all mentions and rendered images of the tower on its website.
Arabian Business reached out to D&B Properties, Edge Realty, Aeon & Trisl Real Estate Brokers, Y S M Real Estate, and Peace Homes Real Estate for comment, but none had replied by time of publication.
One investor spoken to by Arabian Business confirmed that they had been refunded by Emaar in July 2021 for a property purchase. The investor had purchased the property under the belief that it would have views of the Dubai Creek Tower.
While Emaar agreed to refund the purchase, the investor made a loss of just under $30,000 on the arrangement. The investor had to forfeit the sales commission, land registration waiver, and de-registration charges – at a total cost of $29,560.
The CEO of Fam properties, one of the real estate firms that Arabian Business earlier this week reported were using the images, later defended the use of these images.
“All these images are provided by private sellers who have absolute faith in the master community of Dubai Creek Harbour. Our agents are 100 percent in compliance with the marketing agreements with private sellers and landlords of the Creek Harbour community,” Fam Properties CEO Firas Al Msaddi said.
A Reuters report in 2020 said the developer had to suspend work on the tower, as well as on the surrounding residential projects, as Emaar took major blows from the Covid-19 pandemic.
Later that year, Emaar’s founder and then chairman Mohamed Alabbar had confirmed they halted new developments.
“We don’t build anymore. The government entities decided to stop new developments almost a year back, but Covid definitely put the brakes on,” he said at the time, as quoted by Bloomberg.
However, Al Msaddi – who won a real estate award from Emaar in 2017 – said: “Considering Emaar’s track record of constructing the tallest tower in the world, I strongly believe that Emaar will construct and complete the Creek Tower or a better project that is even more attractive and adds more value to the master community as well as enhances the global positioning of Dubai.”
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