Dubai, UAE, December 7, 2006: Emaar Properties has completed the multi-phased launch of The Old Town residential complex located on and along the Burj Dubai Boulevard at Downtown Burj Dubai with the unveiling of five new buildings – Kamoon 2 and 3, and Miska 1, 4 and 5.
The current roll-out caps Old Town’s total offering of 1,560 residential units spread over six quarters – Yansoon, Zaafaran, Reehan, Zanzebeel, Kamoon and Miska - all of them with architectural elements inspired from Arabian tradition.
Emaar has joined hands with Amlak Finance to offer home finance support of up to 96 per cent of the apartment value for tenures of 25 years. Prices of the one- to four-bedroom apartments at Miska range from AED 1.01 million to AED 6.36 million, while the one- to four-bedroom apartments in Kamoon 2 and 3 are in the range of AED 1.12 million to AED 6.27 million. Pre-sale registration and finance approval will start on December 8 with the official launch set for December 10, 2006.
“The Old Town residences are some of the most sought after homes in the Downtown Burj Dubai development because of their unique architecture and pedestrian-friendly family environment,” said Ms Bahiya Kayed, Assistant Director of Sales, Emaar Properties. “They are located on and along the Burj Dubai Boulevard and assure residents proximity to an array of leisure and entertainment options. They also offer easy access to the tramway and the Burj Dubai Metro station. The homes are part of a vibrant development that includes Burj Dubai, billed to be the tallest tower in the world, and The Dubai Mall, the world’s largest shopping destination.”
The new buildings at The Old Town will be ready for occupancy by the end of 2007. The other residential quarters launched earlier will progressively be handed over during the next year. “As one of the central locations in Dubai, The Old Town residences are ideal for home-owners, who like to access the city’s financial and business nerve-centres easily,” added Ms Kayed. “Potential investors will also find these homes a safe investment considering the rising demand for residences in Dubai’s prime locations.”
Khalid Zainal, Head of Sales and Distribution, Amlak Finance, said: “The response to the home finance offer for Old Town homes has always been overwhelming with interest coming from potential home-owners and investors. With hand-over scheduled for 2007, the easy terms of the financing are an advantage for home-owners who can save on rental costs.”
Offering a village-like ambience, The Old Town features a network of passageways and landscaped courtyards. The architectural elements of the buildings include high ceilings, traditional motifs and symmetrical arches. The Old Town has an air of informality with souks, cafes, restaurants and wayside stalls lining the pathways. Lantern-lit alleys exude dignified charm during the night.
Amenities include children’s play areas, relaxation areas, pool facilities, gymnasium, games room, aerobics room, squash courts, entertainment lounge, coffee shops and steam rooms. Residents can also easily access two boutique hotels, souks and retail outlets. Common area cleaning, landscaping, pest control and 24-hour security and maintenance are standard.
Potential home-owners can discover the unique living experience offered by the project by visiting The Old Town sales center at Downtown Burj Dubai. Sales staff from Emaar will assist in the pre-registration and sales process. They can also call toll-free number 800-EMAAR for more information.
The AED 73 billion (US$20 billion) Downtown Burj Dubai is Emaar’s flagship project and will be a mixed-use 500-acre community combining commercial, residential, hotel, entertainment, shopping and leisure outlets in open green spaces dotted with lakes and other water features. Other components include The Old Town Island, Burj Views, Burj Dubai Boulevard, The Residences, The Lofts and Loft Towers, 8 Boulevard Walk, South Ridge, Burj Views and Burj Dubai Lake Hotel and Serviced Apartments.
