Dubai, UAE; May 28, 2009: Emaar PropertiesEmaar Properties has unveiled a new portfolio of homes in its Rent to Own scheme within the Downtown Burj Dubai community. Customers can lease the ready-to-live-in residences for one year before making a purchase option, with the entire rent for the first year going towards the down payment. They can renew the rental lease if they do not decide to purchase the home after one year.

The Rent to Own scheme, launched by Emaar in November 2008, has gained strong response from customers, who benefit from the convenience of staying in a home of their choice for one year before making a purchase decision. With the entire rent of the year going towards down payment, the scheme also presented a financially beneficial option.

The residences showcased as part of the programme are located in the residential clusters of The Old Town, Old Town Island, South Ridge and The Residences, all established communities with an array of lifestyle amenities. South Ridge and The Residences are impressive high-rise towers while The Old Town and Old Town Island feature elegant Arabesque architectural features.

All the homes have upgraded finishes and offer prime views of the 500-acre Downtown Burj Dubai, described as the new heart of the city. The newly released units include one- to five-bedroom apartments with either large terraces or balconies. The Old Town, Old Town Island, The Residences and South Ridge are all centrally located in Downtown Burj Dubai.

Mr Ahmad Al Matrooshi, Managing Director - UAE, Emaar PropertiesEmaar Properties, said new units are being included in the scheme following the strong customer response to the programme. "The diverse collection of newly released units offers customers the convenient option to own a home in one of Dubai's most sought-after communities after experiencing the lifestyle differential for one year."

A must-visit attraction for tourists and offering an unparalleled lifestyle choice for residents, Downtown Burj Dubai is the newest social and commercial hub of Dubai featuring world-class hotels, shopping malls and several globally renowned landmarks.

All homes offered as part of the Rent to Own scheme are near Burj Dubai, the world's tallest building, and residents only need to take a short stroll to watch The Dubai Fountain, the world's tallest performing fountain and a spectacle that performs to popular Arabic and World music.

The Dubai Mall, the world's largest shopping and entertainment destination, is also in close proximity to the four residential clusters. The mall, with 1,200 retail stores and 160 F&B outlets, has several leisure choices including Dubai Aquarium & Underwater Zoo with 33,000 aquatic animals; the Olympic-sized Dubai Ice Rink and The Waterfall, a spectacular water feature that traverses four levels of the mall.

Residents also have easy access to Souk Al Bahar, a modern shopping and F&B destination designed in Arabesque fashion. Downtown Burj Dubai already has four premium hotels - The Address Downtown Burj Dubai, The Palace - The Old Town, Al Manzil and Qamardeen. Another huge draw in the community is the Emaar Boulevard, one of the world's finest boulevards that recently hosted the first-ever Burj Dubai Classic Car Show.

"With the opening of The Dubai Mall and the addition of leisure attractions such as The Dubai Fountain and Emaar Boulevard, visitor traffic to Downtown Burj Dubai has increased considerably. This has further driven rental demand in the community," said Mr Matrooshi.

Emaar is showcasing three model homes for customers to make an informed rental decision after evaluating the finishes and amenities. They can also visit the Emaar Sales Centre at Emaar Square or call toll-free 800-EMAAR (36227) for more details.

Downtown Burj Dubai can be easily accessed from Sheikh Zayed Road and Financial Centre Road (Doha Street) and offers easy access to the financial nerve-centres of the city.

-Ends-

About Emaar PropertiesEmaar Properties PJSC:

Emaar PropertiesEmaar Properties PJSC, listed on the Dubai Financial Market, is a global property developer with a significant presence in 36 markets world-wide. Besides building residential and commercial properties, the company also has proven competencies in shopping malls & retail, hospitality & leisure, education, healthcare and finance.

Emaar is developing Burj Dubai, the world's tallest building and free-standing structure, and has opened The Dubai Mall, one of the world's largest shopping and entertainment destinations. In Saudi Arabia, Emaar is developing King Abdullah Economic City, the region's largest private sector-led project, featuring a Sea Port, Central Business District, Industrial Zone, Educational Zone, Residential Communities and Resort District.

Emaar has joined hands with Giorgio Armani to strengthen its presence in hospitality. The company is opening educational institutions and healthcare centres in South Asia, Middle East and North Africa and the Subcontinent.

Emaar holds 30 per cent equity in Dubai Bank, focused on retail and commercial banking. Emaar is also the largest shareholder in Amlak Finance, UAE's leading Islamic home financing company. For more information, visit www.emaar.com.

For more information, please contact:
Kelly Home / Nivine William
ASDA'A Burson-Marsteller
Tel: (+971 4) 334 4550
E-mail: k.home@asdaa.com, n.william@asdaa.com

© Press Release 2009

 

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