|
Fourteen local and international construction companies and consultancies have been awarded contracts for the multi-billion dirham premium residential villas project at Arabian Ranches - Desert Paradise.
The sale of these villas, to be developed on an area admeasuring 3,000 acres, will begin today at the sales office at Arabian Ranches.
The project will have two world-class golf courses, equestrian and polo grounds, a network of man-made lakes and health spas.
Arabian Ranches will have luxurious one and two storey single-family houses from 2,500 to 4,000 square feet, incorporating smart technology. The project will be constructed in several phases and the first phase is expected to be ready by 2004.
"With the Arabian Ranches development we aim to extend and enhance the Emaar offer of premium quality lifestyle real-estate. This master-planned community built around a central golfing and equestrian theme will add great value to the positioning of Dubai as an international class destination," said Mohammed Ali Alabbar, chairman of Emaar Properties.
The key elements of the project - including the construction of the main approach road, a state-of-the-art sales centre and an impressive man-made lake - have been completed.
"Work on the golf course, the polo grounds, the equestrian stables and a range of luxurious facilities is underway," added Alabbar.
Alabbar added that the Arabian Ranches project is the culmination of several years of master planning and research that caters to the growing need of a huge global and regional market for themed residential communities.
"This project will provide the Emaar shareholders true value and we are very upbeat about its success and the overall company's performance in the years to come."
Robert Booth, executive director (development), said that the two golf courses formed the epicentre of the project development of Arabian Ranches. "The 7,800-yard Ian Baker-Finch/Nicklaus Design world-class desert course will be the region's first desert style facility and will be capable of hosting international tournaments."
Besides Arabian Ranches, Emaar currently has eight major real estate projects under development, including Dubai Marina, Emirates Hills, The Lakes, The Meadows, The Springs, the Greens, Emaar Towers and the Gold & Diamond Park.
Besides these premium real estate projects, Emaar also manages its fully owned subsidiaries - Amlak Finance, Dubai Bank, Sahm Technologies and a joint venture company, Emrill.
|
