Emaar Properties plans to launch off plan sales for another of its Arabian Ranches villa developments as the company taps high investor demand sentiment in Dubai.
It will start to sell 98 new Arab style villas at its Arabian Ranches development in Dubai next Saturday in Dubai, Abu Dhabi and Riyadh as the Dubai developer continues to launch new off plan schemes at a rate of around one a week.
Emaar described the new Yasmin villas as “ Arabesque-style” and said that they would comprise four, five and six bedrooms.
The move comes just a week after Emaar held Dubai and Abu Dhabi sales launches for 140 so called Rasha villas also at Arabian Ranches and two weeks after it launched off plan sales for its second serviced residence project under the Vida brand in Downtown Dubai. Earlier this month Emaar started making off plan sales on another 219 “Lila” villas at Arabian Ranches.
“The launch of our new Yasmin community in Arabian Ranches reflects the growing demand for premium villas in Dubai that are ideal for families,” said Arif Amiri, Emaar’s chief commercial officer.
The developer said that sales launches would take place at Emaar Pavilion, on Mohammed Bin Rashid Boulevard Dubai and Al Nahda Tower Abu Dhabi at 10am and at the Four Seasons Hotel in the Kingdom Centre in Riyadh, Saudi Arabia at 9am local time.
Last year Emaar announced plans to expand its flagship Arabian Ranches villa project on a plot of land which it bought from Dubai Properties Group in 2012 and was originally earmarked to be part of DPG’s massive Dubailand project.
The new villa projects will be linked to the original Arabian Ranches development via an extension to the Al Qudra Road.
The news comes as Jones Lang LaSalle published new research placing Dubai third in the world in its ranking of City Momentum Index behind San Francisco and London.
The index tracks the speed of change of a city’s economic base and commercial real estate market and takes into account real estate prices alongside a host of other key indicators such as GDP, population, air passengers, presence of corporate headquarters, education and the strength of its technology sector.
“The results of our CMI illustrate that Dubai is among an elite group of major internationalised cities that are becoming truly global markets,” said Craig Plumb, director of research for Jones Lang LaSalle’s Dubai office. “Dubai’s position in this list is due to its growth as a major global gateway that has fuelled rapid growth across a broad range of socio economic and real estate indicators.”