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Emaar Properties has announced the details of its golf community taking up 7 sq km in Dubai South, home to the World Expo 2020 and Al Maktoum International Airport. The community, dubbed Emaar South, will have six districts and feature 15,000 apartments, town homes and villas within an 18-hole championship golf course. The developer said it will offer both affordable and luxury options to buyers.
Designed to be smartly interconnected, the tree-lined boulevards, parks, walking and cycle trails link to open spaces and public transport, which include green vehicles.
The developer said the new suburbia promises to be peaceful, yet have some of the buzz of an urban lifestyle, offering three- and four-star hotels, K-12 schools, and recreational and retail facilities.
Emaar has been working with a combination of international consultants and architects to bring the master plan to life, and expects to award the first infrastructure contracts in the next quarter.
The developer, however, stopped short of revealing the cost and timeline of the project, which will be developed in four phases, but said financing would include equity, as well as raising money through debt, with low interests favouring the method, as well as off-plan sales.
“We only have rough investment figures at this stage,” said Mohamed Alabbar, Chairman of Emaar Properties. “I wouldn’t want to put a time frame on this sizeable project. It depends on the market. Sometimes you have to modify the design as you go along to move forward. So, I’d rather focus on the design elements and values to make sure it fits the overall plan of the city and Dubai South.”
Officials did reveal that the first phase, including homes and retail, should be completed in time for the Expo 2020.
“With Emaar’s credentials of developing integrated communities and iconic projects, the synergies between Dubai South and Emaar are a well-made match that serves to fulfil our offering of providing value-added residential products across varied price points and addressing a wider demographic,” said Khalifa Al Zaffin, Executive Chairman of Dubai Aviation City Corporation and Dubai South.
Source: Nicole Walter, Special to PW