Three new buildings in The Old Town on sale

Dubai: Emaar Properties has opened the sale of three residential buildings at The Old Town project, which is part of the Dh73 billion ($20 billion) Downtown Burj Dubai development.

Amlak Finance is offering home finance support of up to 96 per cent on the one- and two-bedroom apartments in the buildings - Kamoon 1, Zanzebeel 1 and Zanzebeel 2 for tenors of up to 25 years.

Kamoon and Zanzebeel are components of the second phase of The Old Town low-rise residential development. The first phase comprises three quarters - Yansoon, Zaafaran and Reehan, which will be ready for hand over in 2007.

The second phase also features the Miska residential quarter. Zanzebeel 3 and 4, and Miska 2 and 3 were launched in September to overwhelming sales response.

"Located along the Burj Dubai Boulevard, Kamoon 1 and Zanzebeel 1 and 2 uphold the unique characteristics of The Old Town development, which is marked by traditional Arabian architecture, courtyards and alleyways in a pedestrian-friendly environment," said Bahiya Kayed, Assistant Director of Sales, Emaar Properties.

"The apartments will be ready for hand-over by end 2007 and offer residents a unique living experience within Downtown Burj Dubai, which comprises Burj Dubai, billed to be the world's tallest tower; and The Dubai Mall, the world's largest shopping and entertainment destination."

Pre-sale registration and approval will be on Tuesday and Wednesday with the official launch of the apartments set for Thursday.

Prices range from Dh985,888 to Dh2.19 million in Kamoon 1, and from Dh1.07 million to Dh2.17 million in Zanzebeel 1 and 2.