Luxury launches and positive outlook in Dubai property market

Luxury launches and positive outlook in Dubai property market  Luxury launches and positive outlook in Dubai property market 1200976791 e1368177864839

Dubai-based luxury real estate developer Emaar Properties recently launched its latest high-end residential project, offering buyers the opportunity to own a unit in the exclusive The Address Residence Fountain Views ‘Sky Collection’.

One of the first serviced apartment developments in downtown Dubai, the luxury residences are situated in the 60-storey towers near the world’s tallest building Burj Khalifa.

The Sky Collection at The Address Residence Fountain Views is for discerning customers who value an unmatched luxury lifestyle in one of the most sought-after destinations in Dubai,” Emaar Properties managing director Ahmad Al Matrooshi said. “Every aspect of the residences, from their location on the highest levels, to the finishes and amenities are immaculately planned and executed to meet the highest standards customers expect from a premium serviced residence.”

The collection boasts standard and duplex three and four-bedroom units, ranging in size from about 186 sqm to 1,579 sqm, including expansive balcony areas.

“Ideal for families as first-homes and for international business and leisure visitors looking for a second home or extended stays in Dubai, the Sky Collection will serve as a valuable investment proposition,” Al Matrooshi added. “In addition to the opportunity to be part of a vibrant community, the rental pool facility offered by The Address Hotels and Resorts will also assure long-term rental yields for the investors.”

A range of high-end projects will also be showcased at Dubai’s annual International Property Show (IPS), which kick offs tomorrow amid rising demand for luxury property in the emirate.

Exhibition spaces at the event, to be held at the Dubai International Convention and Exhibition Centre, are now fully booked by both local and foreign developers looking to promote projects to the swathes of wealthy investors expected to attend.

The responses and demand for participation in the IPS by developers reflects the full recovery of the property sector, according to Dawood Al Shezawi, CEO of event organisers Strategic Marketing and Exhibition.

“The UAE property market led this progress and saw rapid recovery compared to other markets,” he said. “The launch of new mega-projects and resumption of stalled projects clearly indicates this healthy recovery.”

Dubai’s luxury property market experienced a 5.4 percent price rise in the first quarter of the year, placing it fourth in a ranking of the world’s luxury property market, according to Knight Frank’s Prime Global Cities Index Q1 2013.