Dubai, UAE, August 20, 2006: Emaar Properties expands its portfolio of luxury waterfront residential projects with the launch of its fifth Marina Promenade tower, The Aurora, at Dubai Marina, one of the world’s finest master-planned waterfronts and the most preferred living destination for home-owners and investors in the region. Emaar also continues its partnership with Amlak Finance, the company’s home finance subsidiary, to offer easy finance for potential investors in The Aurora, which features 115 new residential units.
Situated on the most scenic and widest bay of the marina, The Aurora opens directly to the Dubai Marina Yacht Club, thus offering the residents breathtaking views of the Arabian Sea and the yachts plying the azure waters. The luxury residential tower is part of the six-tower Marina Promenade development, which sits on a three-storey podium featuring villas, a health club and other community amenities like swimming pools, games room, squash courts, library, business lounge, multipurpose room, leisure deck, day care center and electric barbecue area, among others.
Amlak Finance provides 20-year home finance of up to 96 per cent of the value. Potential investors can ensure a home in the prestigious development for a down payment of only 4 per cent.
“The launch of The Aurora comes at a time when home-owners and potential investors in Dubai have voted for Dubai Marina as the most desired residential area in the city according to a survey of the real estate market by Dubai Shows Limited Exhibitions,” said Bahiya Kayed, Assistant Director of Sales, Emaar Properties.
“The four towers already launched at Marina Promenade have all received overwhelming investor support. As a high-end residential condominium project, The Aurora complements the other towers with the added attraction of offering spectacular views of the Dubai Marina Yacht Club,” added Kayed.
A 23-floor high-end residential tower, The Aurora will feature one- and two-bedroom units. To be ready for hand over in January 2008, the apartments are priced upward of AED 815,888 for one-bedroom and AED 1,520,888 for two-bedrooms.
“There was huge investor interest on our earlier partnership with Emaar for the Attessa tower at Marina Promenade,” said Shahli Akram, Deputy CEO, Amlak Finance. “The sell-out response prompted us to continue the finance scheme. Investors need only pay AED 6,822 and AED 12,696 per month, and down payments of AED 32,635 and AED 60,835, respectively, for the one- and two-bedroom apartments. The easy terms of finance means investors can own a home at rates that are lesser than the rent they pay elsewhere.”
The Aurora underscores luxurious living in the heart of Dubai Marina, a designated freehold property. “While home-owners can enjoy the best of views of Dubai, potential investors have the option of owing property in one of the most prestigious addresses in Dubai that ensures high rental yields and returns on investment,” said Kayed.
She added: “The project’s close proximity to the main thoroughfare of Dubai, the Sheikh Zayed Road, as well as the hubs of Dubai’s modern economy – the Knowledge Village, Dubai Internet City and Dubai Media City, adds to the convenience of residents. They can save time by avoiding traffic snarls and enhance their quality of living through the vibrant community activities offered.”
Home buyers can visit the Emaar Sales Centre located on Building 1 at the Emaar Business Park from 9am to 7pm starting August 21 for pre-approval from Amlak, and from August 29 for actual purchases. Emaar’s sales staff and Amlak representatives will be on hand to address any queries and to process the applications of interested buyers.
Like all towers at the Marina Promenade, The Aurora will also have a distinctive lobby design, locker storage area for tenants, concierge facility, centralized household waste removal, on-site mail service and 24-hour maintenance and security service. The towers are connected by a common landscaped podium structure with a central entrance leading to the parking levels and steps leading to the walkway path.
A pioneer in developing master-planned communities, Emaar has handed over more than 14,000 homes in the UAE and currently undertakes ambitious projects in Saudi Arabia, Egypt, Tunisia, Pakistan, India, Morocco, Syria and Turkey.
