Dubai, September 17, 2006: Real estate major Emaar Properties has launched a cluster of four Arabesque residential quarters at The Old Down residential development in the heart of Downtown Burj Dubai.
Ushering in the splendour of Arabian living, the four buildings - Zanzebeel 3 and 4, and Miska 2 and 3 - at The Old Town recreates the low-rise, car-free lifestyle that is characteristic of the Yansoon quarter, which is almost ready for hand-over. Work on two other residential clusters - Zaafaran and Reehan - are already in progress for an on-schedule 2007 completion.
Emaar Properties has joined hands with Abu Dhabi Commercial Bank to offer competitive home finance options to own a home in the Zanzebeel and Miska quarters being launched on September 19. Construction is on fast-track and Zanzebeel and Miska will be ready for possession within a year.
“The Old Town living offers several distinct advantages with the residents having a unique opportunity to be part of the vibrant Downtown Burj Dubai lifestyle, characterized by an array of leisure and entertainment amenities. They can also relive the charm of a vintage Arabian lifestyle in a car-free zone that is lined by boulevards, flourishing souks and bustling cafes,” said Bahiya Kayed, Assistant Director of Sales, Emaar Properties.
With direct views of the iconic super-tower Burj Dubai and in close proximity to the Dubai Mall, the world’s largest shopping mall, The Old Town will comprise 1,560 homes in all, with Yansoon, Zaafaran and Reehan offering 985 apartments and Zanzebeel, Miska and the upcoming Kamoon to have 575 apartments.
The architectural elements of the residential project are inspired from Arab tradition and include high ceilings, traditional motifs and symmetrical arches. The amenities are world-class with high quality finishes, modern kitchen and bathroom fittings, top-notch lighting, hi-speed telecommunication links and a choice of entertainment connectivity.
“Zanzebeel and Miska at The Old Town simulate a village-like ambience within the city,” added Kayed. “Cars have designated underground parking and do not interrupt the neatly laid out walkways that criss-cross the development. An air of informality prevails, with community spirit fostered through the souks, cafes, restaurants and wayside stalls.”
Emaar’s partnership with Abu Dhabi Commercial Bank offers potential homeowners up to 90 per cent home finance at a fixed rate of 7 per cent until October 2007. Finance schemes are for long tenures of 25 years. “The home finance schemes for Zanzebeel and Miska quarters, valid for all customers approved before September 30, 2006, are customer-friendly in the long-term,” said Mr P Sundar, Vice President, Head – Retail Assets, Abu Dhabi Commercial Bank. “The easy terms are ideal option for home-owners who look at Dubai’s property market as a safe and assured investment option.”
Potential homeowners can visit Emaar’s The Old Town Presentation Centre at the Downtown Burj Dubai development from today, 9am to 7pm, to apply for home loan from Abu Dhabi Commercial Bank, and from September 19 for actual purchases. Sales staff from Emaar and Abu Dhabi Commercial Bank will be on hand to offer all assistance.
The AED 73 billion (US$20 billion) Downtown Burj Dubai development also encompasses South Ridge, The Residences, Burj Dubai Lake Hotel and Serviced Apartments, The Lofts, Burj Views and Burj Dubai Boulevard. The ambitious development will create a new centre for the city and provide first class living, working and entertainment options.
