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House Full: Emaar project has a sell out
May 28, 2012
The latest residential project titled Panorama at The Views, launched by Emaar Properties, received a sell-out response, with all residences released for sale bought by customers.
The overwhelming response to the launch of the residential project is a strong demonstration of the investor confidence in Emaar’s project development competencies, and the growing demand for real estate in Dubai’s prime locations.
For Panorama at The Views, Emaar offers several investor-focused initiatives in line with the guidelines of the Real Estate Regulatory Authority, or Rera. The project is registered with the Dubai Land Department and all its units are listed on the department’s system.
Emaar has also set up a dedicated escrow account for Panorama at The Views with 20 per cent of the construction value deposited as bank guarantee in the account. All sales proceeds will be deposited in the escrow account, which will be used only for construction purposes. Investors also have the added attraction of having to make the payments based on construction milestones.
“The sell-out response to Panorama at The Views is a clear testament to investor confidence in Emaar’s project delivery credentials and the positive growth being recorded by Dubai’s property sector this year. Our investor focused initiatives lend further market confidence, and we remain committed to the hand-over of the project as per schedule in the first quarter of 2015,” Emaar Properties director Ahmad Al Matrooshi said.
Panorama at The Views is located near The Greens with the homes overlooking the fairways of the Emirates Golf Course. The development has only 224 apartments, including large one-, two- and three-bedroom apartments, and three- and four-bedroom duplex units. The development marks the first of several other lifestyle communities that are being planned by Emaar in Dubai.