Emaar Launches 480 New Townhomes In Reem Community

Dubai developer Emaar Properties announced the launch of a new collection of Mira Oasis townhomes in its master development Reem, following strong investor demand for earlier launches of Mira Oasis residences.

The new phase of Mira Oasis includes over 480 three- and four-bedroom townhouses with landscaped green spaces and water features. All residences have large balconies, driveways and courtyards, Emaar said in a statement.

Located near Arabian Ranches, Mira Oasis will feature a school, a mosque and a retail plaza.

Leisure amenities include a rock climbing wall, Skate Park, cricket pitch, football field, go-kart track, dune park for surfing, camel riding, dune bugging and camping.

The Reem development also includes a central park with interactive fountains, walkways and a botanical park.

Ahmad Al Matrooshi, managing director, Emaar Properties said: “Led by the robust growth of Dubai’s economy, demand for residences continues to be strong. This is reflected in the remarkable investor interest we had recorded for our earlier launches of Mira Oasis townhouses.”

Emaar will launch the project in Dubai, Abu Dhabi and Karachi, with online registration beginning on April 16, 2014, followed by sales on April 19.

With property prices in Dubai rising rapidly – up 30 per cent in Q1 2014, according to a recent JLL report – developers in the city are cashing in with a string of new launches.

Off-plan developments, blamed for boosting speculation prior to the real estate crash in Dubai in 2009, are also taking off in the emirate with developers such as Emaar, Nakheel and Damac unveiling ambitious mega projects.

House prices are expected to rise further in 2014 but at a slower pace, predicted JLL, adding that Dubai’s property market will see tighter regulations against speculation to prevent a bubble.

“Efforts are expected to continue into 2014 as similarities are drawn between today’s market and the speculative activity witnessed in 2008,” it said.