UAE - Dubai's Emaar Properties To Invest $21B In Luxurious Housing Projects Amid Real Estate Boom | Benzinga
In a bid to capitalize on the thriving real estate market in Dubai, Emaar Properties is set to invest a whopping $21 billion in two high-end residential projects. The move comes as the city’s property prices and rents approach record levels.
What Happened: Emaar, renowned for constructing the Burj Khalifa, the world’s tallest tower, is initiating sales at The Heights Country Club, an 81 million square feet development valued at 55 billion dirhams. The company also plans to offer residences at the Grand Club Resort, a 41-billion-dirham project that will feature a wellness resort, reported Bloomberg.
The new developments, which will include luxury villas and townhouses, are expected to significantly boost the company’s sales and profitability. The surge in demand for real estate in Dubai has been fueled by an influx of people from around the world, reversing a years-long slump in the city’s property market.
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