Today in Dubai, at the its headquarter, Emaar Properties PJSC unveiled to media representatives the newest edition to The Address Hotels & Resorts hospitality portfolio.
The official day for the the project launch is 22nd of September. Prices will be raveled to investors on the day at the spot, as per the company’s policies.
During the press conference, Arif Amiri, Chief Executive Officer, Emaar Retail announced that in terms of sales, volumes grew five times so far in 2012 compared to the same period of time in 2011.
This is the third new project launch for Emaar in 2012 and it was initiated by strong investor’s demand.
Emaar’s new project is named The Address, The Boulevard and consists of one to four-bedrooms serviced apartments. It is a 340-metre, 63-storey skyscraper and it will become the second tallest building in the Dubai Downtown after the Burj Khalifa.
The development is particularly targeted at GCC, Chinese and Russian investors, who appreciate the high-end lifestyle Dubai offers. The new building will have an air-conditioned link to both the Dubai Mall and the Burj Khalifa Metro station.
As with the other two Address Hotels in Downtown Dubai, The Boulevard will function as both a hotel and serviced apartment tower. It will have 542 serviced apartments and 200 hotel rooms.
Completion is scheduled for 2015.
This is Emaar’s third project launch in 2012. The first in the popular Greens district sold out in one day and a new development of villas next to the Arabian Ranches has been well received.