Dubai, UAE, November 26, 2006: Emaar Properties has opened the sale of three residential buildings at The Old Town project, which is part of the AED 73 billion (US$20 billion) Downtown Burj Dubai development. Amlak Finance is offering home finance support of up to 96 per cent on the one- and two-bedroom apartments in the buildings – Kamoon 1, Zanzebeel 1 and Zanzebeel 2.
Kamoon and Zanzebeel are components of the second phase of The Old Town low-rise residential development. The first phase comprises three quarters – Yansoon, Zaafaran and Reehan, which will be ready for hand over in 2007. The second phase also features the Miska residential quarter. Zanzebeel 3 and 4, and Miska 2 and 3 were launched in September to overwhelming sales response.
“Located along the Burj Dubai Boulevard, Kamoon 1 and Zanzebeel 1 and 2 uphold the unique characteristics of The Old Town development, which is marked by traditional Arabian architecture, courtyards and alleyways in a pedestrian-friendly environment,” said Ms Bahiya Kayed, Assistant Director of Sales, Emaar Properties.
She added: “The apartments will be ready for hand-over by end 2007 and offer residents a unique living experience within Downtown Burj Dubai, which comprises Burj Dubai, billed to be the world’s tallest tower; and The Dubai Mall, the world’s largest shopping and entertainment destination.”
Amlak Finance is offering up to 96 per cent finance on the apartments for tenors of up to 25 years. Pre-sale registration and approval will be on November 28 and 29 with the official launch of the apartments set for November 30, 2006.
“There has been a significant shift in property purchases in the UAE with more individuals buying property for own use,” said Mr Khalid Zainal, Head of Sales and Distribution, Amlak Finance. “The easy finance options from Amlak offer potential buyers the dual advantage of owning their dream home by paying easy monthly installments and thus saving on rent payments.”
Prices range from AED 985,888 to AED 2.19 million in Kamoon 1, and from AED 1.07 million to AED 2.17 million in Zanzebeel 1 and 2.
“The trend by young professionals and families to own homes in Dubai is complemented by a shift in their preference to be within self-sustaining neighbourhoods,” added Ms Kayed. “Downtown Burj Dubai, featuring residential, commercial, retail, leisure and entertainment facilities, fits their requirement as an ideal community development.”
Centrally located in Downtown Burj Dubai, Kamoon and Zanzebeel are directly connected to the Burj Dubai Boulevard. Residents will also have easy access to the Dubai Metro station. The architectural elements 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.
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.
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.
