Emaar plans new Dubai projects as real estate outlook improves

02 May 2012

Local developer is planning new schemes at its Downtown and Greens developments

Local real estate developer Emaar properties is planning to start work on two projects at its Downtown Dubai and Greens developments in Dubai.

The largest scheme is at Downtown Dubai. Known as Westside, the scheme involves building about 14 residential blocks with a built-up area of about 1.2 million square metres across the artificial lake from the world’s tallest tower the Burj Khalifa and Dubai Mall. It will also have a promenade with shops and food and beverage outlets looking out to the 828 metre-tall tower.

UK-based Atkins and South Africa’s Mirage Mille are the consultants working on the scheme. Selected contractors have been approached to work on the scheme and advise on value engineering and making the development’s design easier to build.

The scheme will sit alongside Emaar’s proposed cultural district that was announced in March. It will sit on an island next to Westside and will contain a modern art museum, an opera house and other cultural facilities. The Dubai Modern Art Museum and Opera House District will also contain two hotels, studios and leisure facilities.

At the Greens, Emaar has approached contractors to bid by 8 May for a contract to build residential blocks on plots 30 and 31. The Greens is a mid-rise residential district along Sheikh Zayed road.

The outlook for real estate in Dubai has improved this year, with consultants expecting prices for good quality properties in central locations to rise. To capitalise on the renewed confidence in the market, Emaar says it is developing a series of new projects in Dubai.

“As part of Emaar’s growth strategy, the company has announced plans to launch new projects in Dubai this year including the Dubai Modern Art Museum and Opera House District in Downtown Dubai,” says an Emaar spokesman. “There are various other projects which are in the planning and conceptual stage. We will announce them once the details are finalised.”

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