Emaar Development, the publicly listed real estate development subsidiary of Dubai-based Emaar Properties, said it recorded Dh1 billion of sales from the launch of the first residences at its new beachfront scheme in Dubai this weekend.
“With Emaar setting impressive property sales last year, the response to our first launch this year is a positive statement on the robust performance of Dubai’s property sector,” said Mohamed Alabbar, the chairman of Emaar Properties.
Beach Vista is the first collection of residences to be launched for sale at the developer’s 10 million square foot Emaar Beachfront scheme, which was unveiled last year as part of the new Dubai Harbour project master-planned by the Dubai developer Meraas Holding.
Beach Vista comprises a twin-tower development of 33 storeys and 26 storeys containing 375 one to four-bedroom apartments. Emaar Properties said on Sunday all 375 residences have sold out.
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Read more:
Emaar to develop Dubai Harbour hotel and residences
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Dubai Harbour: Sheikh Mohammed unveils major new project with Middle East’s biggest marina
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When complete, the Emaar Beachfront scheme will house a collection of “Miami Beach-style” residences with exclusive access to a 1.5 kilometre private beach, according to Emaar Properties.
There will also be food and beverage (F&B) outlets, retail pop-ups, beachside recreation areas, a hotel and promenade.
The broader Dubai Harbour project will include a 1,400-berth marina, 135 metre-high Dubai Lighthouse, and a 150,000 sq ft cruise liner terminal capable of handling 6,000 passengers, Meraas Holding said last year.
Emaar Development listed 20 per cent of its shares on the Dubai stock exchange on November 16, raising Dh4.8bn. Last week, the company approved the distribution of Dh4bn in dividends to shareholders from proceeds of the initial public offering.
At a glance
Global events: Much of the UK’s economic woes were blamed on “increased global uncertainty”, which can be interpreted as the economic impact of the Ukraine war and the uncertainty over Donald Trump’s tariffs.
Growth forecasts: Cut for 2025 from 2 per cent to 1 per cent. The OBR watchdog also estimated inflation will average 3.2 per cent this year
Welfare: Universal credit health element cut by 50 per cent and frozen for new claimants, building on cuts to the disability and incapacity bill set out earlier this month
Spending cuts: Overall day-to day-spending across government cut by £6.1bn in 2029-30
Tax evasion: Steps to crack down on tax evasion to raise “£6.5bn per year” for the public purse
Defence: New high-tech weaponry, upgrading HM Naval Base in Portsmouth
Housing: Housebuilding to reach its highest in 40 years, with planning reforms helping generate an extra £3.4bn for public finances
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Guns N’ Roses’s last gig before Abu Dhabi was in Hong Kong on November 21. We were there – and here’s what they played, and in what order. You were warned.
- It’s So Easy
- Mr Brownstone
- Chinese Democracy
- Welcome to the Jungle
- Double Talkin’ Jive
- Better
- Estranged
- Live and Let Die (Wings cover)
- Slither (Velvet Revolver cover)
- Rocket Queen
- You Could Be Mine
- Shadow of Your Love
- Attitude (Misfits cover)
- Civil War
- Coma
- Love Theme from The Godfather (movie cover)
- Sweet Child O’ Mine
- Wichita Lineman (Jimmy Webb cover)
- Wish You Were Here (instrumental Pink Floyd cover)
- November Rain
- Black Hole Sun (Soundgarden cover)
- Knockin’ on Heaven’s Door (Bob Dylan cover)
- Nightrain
Encore:
- Patience
- Don’t Cry
- The Seeker (The Who cover)
- Paradise City
