Emaar Properties yesterday said the first phase of The Springs, comprising 1,388 villas, has been sold out in record time.
Emaar Properties yesterday said the first phase of The Springs, comprising 1,388 villas, has been sold out in record time.
It said the sale of the second phase will start at its Dubai Marina sales centre today. The centre will be open seven days a week, from 10 am to 8 pm.
Emaar said UAE and GCC nationals and expatriates thron-ged the sales centre when bookings for the first phase opened on August 17 and snapped up all the units on a freehold basis.
The Springs will offer residents a distinctive and unique living environment that will cater to all their needs. It will feature villas in varying sizes and floor plans with the finest architecture and picturesque landscaping.
The project has set a benchmark price for residential property in Dubai by valuing a three-bedroom villa at Dh448,888.
Mansour A. Al Othaimin, director, GCC, International and Commercial, Emaar Properties, said The Springs was aimed at providing nationals and expatriates with a viable alternative to renting their dream homes.
"The overwhelming majority of those who have bought villas at are individuals, who will actually live in this community with their families once it is ready in 18 months," he added.
"Home ownership, apart from being an attractive and tangible investment, also forms the foundation of a stable and healthy Dubai economy," said Othaimin.
"The success of the first phase of proves that customers continue to put a high value on quality real-estate development, especially as they typically put their lifetime savings behind such an investment."
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