Dubai, UAE; December 11, 2006: Emaar PropertiesEmaar Properties has launched a three-tower, high rise residential complex - The Loft Towers - on Burj DubaiBurj Dubai Boulevard, a vibrant component of the Downtown Burj DubaiDowntown Burj Dubai development. Amlak FinanceAmlak Finance is offering easy home finance options to own an apartment at the Central tower, which is currently open for sale.

With a maximum of six one- and two-bedroom apartments on each floor, the three towers - Central, East and West - are located above the podium of The Lofts, which was launched last year. Each tower also has a three-bedroom penthouse.

"While The Loft Towers adds to the residential components of Downtown Burj DubaiDowntown Burj Dubai, it also gives its residents an exclusive living environment," said Ms Bahiya Kayed, Assistant Director of Sales, Emaar PropertiesEmaar Properties. "Located on the Burj DubaiBurj Dubai Boulevard, The Loft Towers assures residents the easiest access to an array of retail, leisure and entertainment activities that characterise the boulevard lifestyle."

The Loft Towers offer panoramic views over the signature projects on the northern crescent of Downtown Burj DubaiDowntown Burj Dubai. The project is also in close proximity to Burj DubaiBurj Dubai, billed to be the tallest tower in the world, and The Dubai Mall, the world's largest shopping destination.

The East and West towers are 30 storeys high and the Central tower is 26-storeyed. A perfect urban lifestyle choice offering easy access to all commercial and financial nerve-centres in Dubai, The Loft Towers will be serviced by the Burj DubaiBurj Dubai Tram and is only two tram stations away from the Burj DubaiBurj Dubai Metro station.

"Residents at The Loft Towers can also access air-conditioned arcades on the Lofts from each tower lobby," said Ms Kayed. "During summer, the arcade serves as a comfortable shopping environment, and in winter, it will enrich the boulevard experience further by serving as an inviting outdoor passage."

Amenities at The Loft Towers include a swimming pool, fitness centre, changing rooms, meeting rooms and multi-purpose rooms. Residents and visitors can access five parking levels. "The amenities and easy access to key workplaces in Dubai make The Loft Towers an ideal residence for professionals, who like to stay connected with what is happening in and around the city," added Ms Kayed.

Amlak FinanceAmlak Finance is offering easy home finance for potential home owners and investors. Finance of up to 96 per cent will be offered for tenures of up to 25 years. "The Loft Towers is a centrally located residential development and assures high returns making it an ideal investment option. The monthly installments are competitive compared to the rents they would pay for living in similar environments thus making our package ideal for potential home-owners," said Khalid Zainal, Head of Sales and Distribution of Amlak FinanceAmlak Finance.

Potential home-owners can discover the unique living experience offered by the project by visiting Downtown Burj DubaiDowntown Burj Dubai sales centre. Pre-registration will begin on December 12 and close on December 13 at 7pm. The launch is set for December 14, 2006. Sales staff from EmaarEmaar will assist in the pre-registration and sales process. They can also call toll-free number 800-EMAAR for more information.

The AED 73 billion (US$20 billion) Downtown Burj DubaiDowntown Burj Dubai is EmaarEmaar's flagship project and will be a mixed-use 500-acre community combining commercial, residential, hotel, entertainment, shopping and leisure outlets in open green spaces dotted with lakes and other water features. Other components include The Old Town, The Old Town Island, Burj Views, The Residences, The Lofts and Loft Towers, 8 Boulevard Walk, South Ridge and Burj DubaiBurj Dubai Lake Hotel and Serviced Apartments.

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About Emaar PropertiesEmaar Properties PJSC:

Emaar PropertiesEmaar Properties, the Dubai-based Public Joint Stock Company and one of the world's largest real estate companies, is listed on the Dubai Financial Market and is part of the Dow Jones Arabia Titans Index. The company recently announced that its net profits for the three quarters ended September 30, 2006 reached AED 4.658 billion (US$1.268 billion) - a significant gain of 26 per cent over the same period in 2005 - reflecting the remarkable growth the company has gained since its inception in 1997.

With more than 14,500 homes handed over to customers, EmaarEmaar has several major real estate projects under various stages of development in Dubai. An ISO9001:2000 quality certified company, EmaarEmaar is marching ahead with the construction of its AED 73 billion (US$20 billion) Downtown Burj DubaiDowntown Burj Dubai mixed-use development that encompasses Burj DubaiBurj Dubai, the world's tallest tower when completed in 2008.

The company has joint ventures and projects across the region covering Saudi Arabia, India, Egypt, Turkey, Morocco, Bahrain, Syria, Jordan, Pakistan, Lebanon and Tunisia. In Saudi Arabia, EmaarEmaar is developing the US$26.6 billion (SR 100 billion) King Abdullah Economic City, the single largest private sector project in the Kingdom.

EmaarEmaar also entered the US market by acquiring John Laing Homes, the second largest privately held homebuilder in the US for AED 3.856 billion (US$1.050 billion). EmaarEmaar joined hands with The Turner Corporation, a leading international building services provider, to form a new entity, Turner International Middle East Ltd (Turner International ME) to jointly tap regional growth opportunities.

In a move that scaled up its core competency in product sales across the international arena, particularly the Western hemisphere, EmaarEmaar acquired Hamptons International, the UK-based subsidiary of premier property developer Wheelock Properties (Singapore) Ltd in a deal worth AED 562.45 million (US$153.05 million).

Last year the property developer announced plans to aggressively expand the retail sector with investments of over AED 15 billion (US$4 billion) to develop approximately 150 malls in the larger emerging markets of the Middle East, North Africa (MENA) and the Indian subcontinent. In addition, EmaarEmaar has teamed up with Giorgio Armani S.p.A to build and manage 10 Armani hotels and resorts across the world; an Armani hotel will feature in EmaarEmaar's flagship Burj DubaiBurj Dubai tower.

EmaarEmaar's education initiative will involve the establishment of international schools in the MENA region and India, which will offer premium quality education and an integrated curriculum for students ranging from kindergarten to tertiary levels. EmaarEmaar's healthcare diversification will see the company invest around AED 18.35 billion (US$5 billion) over the next decade in the MENA and South Asia markets with the construction of hospitals, clinics and medical centres and the investment in the provision of world-class healthcare services.

EmaarEmaar has diversified into related business lines to further build value for its shareholders, which includes the Government of Dubai. EmaarEmaar owns and manages EMRILL, a joint venture with the UK-based Carillion which provides innovative property and facilities management services. EmaarEmaar also holds 30 per cent equity in Dubai Bank, focused on retail and commercial banking and is the majority shareholder in Amlak FinanceAmlak Finance, UAE's leading Islamic home financing company. For more information, visit www.emaar.com.

For further information, please contact:
Kelly Home / Nedal Alasaad
ASDA'A Public Relations
Exclusive Affiliate of Edelman PR Worldwide in Middle East & North Africa
Tel: (+971 4) 334 4550;
Fax: (+971 4) 334 4556
E-mail: k.home@asdaa.com, n.alasaad@asdaa.com

© Press Release 2006

 

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