Dubai's Emaar Properties launches two luxury residential projects, costing Dh96b

Dubai: The Dubai master-developer Emaar is setting out to create two new destinations in the city - The Heights Country Club and Grand Club Resort (next to its recently launched The Oasis) - for a combined Dh96 billion. As with its recent launches, the focus is on luxury and higher, with villas and townhouses making up a 'substantial number'.

Emaar, which delivered sizeable gains with its 2023 financials, finds value in adding to its Dubai projects, at a time when the market is seeing a raft of offplan launches, including flagship ventures such as the reworked Palm Jebel Ali and Dubai Islands (formerly Deira Islands). 

The Heights Country Club will be set across 81 million square feet and valued at Dh55 billion to build. Spanning over 60 million square feet and expected to cost Dh41 billion, the Grand Club Resort focuses heavily on wellness features. "The resort is meticulously designed to house world-class wellness facilities, offering an unparalleled experience in luxury hospitality," said a statement.

"Emaar is not just contributing to Dubai's progress; we are leading the way, creating exclusive lifestyle destinations with unprecedented amenities that set new global standards,” said Mohamed Alabbar, Chairman.

The stock of Emaar Development, the company overseeing the Dubai projects, is up 45 per cent in the last 12 months, while Emaar Properties, the holding company, has seen its stock gain 47 per cent. In recent past, the developer had launched The Beachfront, The Valley and The Oasis, while leveraging the now well-established Dubai Hills Estate.

The Heights Country Club will be located in the Al Yalayis area of Dubai, one of the emerging locations in the city.  The Grand Club project is next to the developer's on-going The Oasis project, next Sheikh Zayed Bin Hamdan Al Nahyan Street. The Oasis will have over 7,000 residential units eventually.