Dh500,000 cheque to book unit in The Address Residence - Dubai Opera

Emaar’s The Address-branded tower to be costliest launch price in 2015

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The launch price of apartments in The Address Residence Dubai Opera may range between Dh3,500 and Dh4,500 per square feet (psf), Emaar Properties-listed real estate agents told Emirates 24/7.

The prices are estimated to be the highest in 2015.

“Prices will range between Dh3,500 and Dh4,500 psf, with the payment spread over seven installment and the final 30 per cent being paid in July 2020 on handover,” one of the registered agent’s said on conditions of anonymity.

Ozan Demir, Data & Research Manager – UAE, Reidin, told this website: “As per our expectation, pricing will be on a higher level than Opera Grand where launch prices were between Dh3,500 and Dh 4,000 psf as The Address brand is there.”

Property agents said investors, who wish to attend and buy unit at the VIP launch on December 12, 2015, were asked to bring a Dh500,000 cheque with them.

In August 2015, Lookup.ae, a local real estate portal, said a total of 120 new projects have been launched in Dubai in the past 24 months, with investors being drawn to the off-plan market due to attractive prices and payment plans.

Emaar reported a 16 per cent increase in its nine-month 2015 net profits of Dh3.048 billion, compared to Dh2.622 billion during the same period in 2014. Revenues for period stood at Dh9.849 billion, up 25 per cent over the same period last year at Dh7.888 billion.

credit to 24/7 Emirates