Emaar to delay Dubai towers development by two years

23 March 2010

Residential towers at 29 Burj Boulevard development in Dubai are now expected to open in 2012

Developer Emaar Properties’ $150m residential towers project at its 29 Burj Boulevard scheme in Dubai will open in 2012, two years after the scheduled completion date.

The two 45-storey tower, originally scheduled to open this month, will now be completed in February 2012.

The towers, designed by US-based architect Frank Williams & Partners, are planned to contain a series of residences, swimming pools, gymnasiums, car parks and other associated facilities.

“These projects are in varying stages of development, from initial start-up phase to handover,” Emaar said in a statement sent out to buyers.

At the end of last year, Emaar and Dubai Holding cancelled plans to merge their real estate businesses in a move which would have created a company with combined assets of $53bn (MEED 9:12:09).

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