Emaar Properties Announces Sky Collection

Emaar Properties has launched scores of penthouse units in its latest project of The Address The BLVD in Downtown Dubai according to Bayut sources. It had sold its entire portfolio that had 542 units in the September last year on the very first day when it got launched. Emaar has also launched it’s the Address The BLVD Sky Collection project on the Sunday and this too is a luxury project which will have apartments ranging from three bedrooms to five and also penthouses and duplexes. This 63 floor building is located on the Emaar Boulevard in Downtown Dubai.

The project is planned to be completed before the June of 2015 and when completed, it will have 542 apartments. However, the number of units that are to be added was not unleashed by Emaar Properties. The building will also feature 200 hotel rooms upon completion along with the apartments.

Sky Collection is going to be the second highest building in the Downtown Dubai and it certainly is an enticing offer for the investors and accommodation seekers to have an apartment of theirs located in this luxuriously designed place. Ahmed Al Matrooshi who is Managing Director at Emaar Properties was also of the same view and he encouraged the buyers to have a luxury apartment in this extravagant property project.

The net profit of the Emaar Properties dropped by 4.7% during the third quarter of the year but according to Mohamed Alabbar who is the Chairman of Emaar Properties said that it happens every year due to the season change and remains so during the third quarter and there is no need to be worried about because in his opinion the there is no threat to Dubai real estate any more. He said that the Dubai Property sector has already gone through the tough times and it will continue to be the same in the coming days.