|31 October, 2016

Emaar to launch residential tower in Dubai

Dubai-based master developer Emaar Properties PJSC will be launching Al Murad, a new residential project in Al Barsha.

A logo of Dubai's Emaar Properties is seen at an under-construction building in Dubai, UAE, March 3, 2016. Image for illustrative purposes.

A logo of Dubai's Emaar Properties is seen at an under-construction building in Dubai, UAE, March 3, 2016. Image for illustrative purposes.

REUTERS/Ahmed Jadallah
31 October 2016

Dubai-based master developer Emaar Properties PJSC will be launching Al Murad, a new residential project in Al Barsha, company registered brokers told Zawya Projects.

"The 17-storey freehold tower with 170 units will be launched shortly," the agent said without providing details about the construction timeline.

In October 2016, Zawya Projects reported that the company had launched Park Point, a residential project, in Dubai Hills Estate development. Reuters reported that Emaar expects a 20 per cent reduction in costs in 2017.

A July 2016 report by Reuters said that the developer recorded a net profit of 1.27 billion dirhams ($345.8 million) for the second quarter ended 30 June, 2016, against 1.18 billion dirhams  ($321 million) for the corresponding period in 2015.

© Zawya Projects News 2016