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Dubai developers Emaar, Damac to build almost 2,000 new apartments

Two of Dubai’s biggest developers are pressing ahead with plans to develop almost 2,000 new apartments despite weakening property sentiment.

Emaar said on Sunday that it would start selling 750 apartments and 14 villas at its planned twin tower Harbour Views project in Dubai Creek Harbour next to the Ras Al Khor bird sanctuary on Dubai Creek.

Sales launches for the block will be held in Dubai, New Delhi and Karachi on January 23, and in Mumbai on January 24.

Emaar did not say how much the apartments would cost or how many of the 750 units would go on sale next week.

Damac Properties said it was planning to build five new 14-storey towers at the company’s Akoya Oxygen golf course community off the Umm Suqeim Road extension on the outskirts of Dubai.

Damac also said on Sunday it would start to market 1,200 apartments in its Dh850 million Navitas Hotel & Residences project. It forms part of the 55 million square feet Akoya Oxygen project that will include a golf course designed by Tiger Woods.

It said prices would start from Dh440,000 and be available on a four-year payment plan.

One of the towers will comprise 312 hotel rooms, which will be managed by Damac Hotels & Resorts.

Akoya Oxygen will also include a 1 million sq ft shopping and entertainment centre called Vista Lux that will include a “rainforest” and a hydroponic cafe and restaurant.

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