The deal of the century between Emaar Properties and Dubai Holding impressed the world. To assure shareholders of the profitability of the deal, Emaar notified that the acquisition of Dubai Creek Harbour would result in “100% revenue” and reduce risk. Besides, prices apartments in Dubai Creek Harbour are not going to be changed, so future investors can be confident.
About The Deal Between Emaar Property And Dubai Holding
Dubai Creek Harbour, a major cluster of residential and commercial properties located near the Ras Al Khor reserve, has recorded AED 4 billion-plus in real estate sales through 2021 (US$ 1.09 billion), and the numbers have become even more impressive in the first six months of this year.
Looking at these figures, Dubai industry giant Emaar Properties decided to take the deal of the century and acquire the entire coastal area. In doing so, the developer was quick to assure its shareholders that the Dh7.5 billion (US$2.04 billion) purchase of the asset is definitely a positive development for the company in the medium and long term.
The aim of Emaar Properties is absolutely clear. Such a profitable deal will increase the income of the developer as they will have the whole access to the process of development of the area. The prices on real estate in Dubai Creek Harbour will increase along with its ongoing construction. Therefore, more and more foreign investors will have a desire to buy a premium apartment in a convenient location.
Emaar shares rose more than 1 percent to AED 5.67 (US$1.54) in early trading on Aug. 15, cushioning much of Friday’s 1.57 percent drop.
A Super-Sized Deal Of The Century
Emaar also cited figures to back up its position. Dubai Creek Harbour, a cluster of high-rise residential buildings with extensive mixed-use opportunities, recorded sales of AED 4.2 billion (US$ 1.14 in 2021 and added another AED 3.6 billion (US$ 980 million) between January and the end of June this year. “This clearly reflects the significant demand for real estate in Dubai Creek Harbour and the future profit potential from development in the area, which is a major factor in Emaar’s decision to acquire the cluster,” the developer said.
Dubai Creek Harbor LLC, the project’s operating company, was valued by an independent appraiser at between AED 14.6 billion and 15.7 billion (US$ 3.97 billion to US$ 4.27 billion).
The Importance Of The Deal To Emaar Properties
The deal is extremely beneficial for both sides. However, let`s explore what the Dubai Creek Harbour deal means for Emaar:
- Full control of the underlying undeveloped land, which is “strategically located and includes nearly 1,000 acres of future development”
- It will simplify the decision-making process for Emaar, thereby “improving overall project execution and delivery”
- It will increase Emaar’s profits by gaining access to 100% of the profits to be generated during the development of the project.
About The Object Of The Deal
Dubai Creek Harbour is an isolated part of the larger community of The Lagoons and is located on Ras Al Khor Road. The community occupies a total of 6 square kilometers, of which 820000 square meters are allocated for retail pavilions, 66000 square meters for entertainment venues, and 7.3 million square meters for residential buildings. Near the coast of Dubai Creek is Ras Al Khor Reserve – one of the most protected in the world. It is home to over 450 species of animals and birds, including the famous pink flamingos.
The community offers a number of ultra-luxury residential complexes with premium apartments to any taste and budget. As the area is still under construction, there is a beneficial opportunity to become an owner of an off-plan project and receive high income in the near future.
Dubai Creek Harbour cannot boast of simple accessibility, however, it is conveniently located near popular Dubai neighborhoods. The developers plan to construct multiple roads inside and outside the districts to connect it to other important places of Dubai.
Real Estate Agency In Dubai Creek Harbour
As the management of the whole community is conducted now by one of the most renowned developers, it is advisable to look carefully at the beneficial housing options. The area provides apartments at affordable prices. The only thing to do is to decide on the desired interior, equipment, furniture, and level of future income.
Real estate agency Ax Capital is famous for hundreds of successful cases of real estate deals in the UAE. The agents possess profound information about each residence in Dubai Creek Harbour. The wide selection of spacious properties on the website is available for investigation. Choose the ideal apartment, contact the agents, and become a prominent investor in the real estate sphere. Do not lose the chance of owning a stunning property in perspective neighborhood in Dubai.