Following an “overwhelming sales response” to an earlier serviced apartments project Emaar Properties is now launching sales of a collection of luxury apartments, Gulf-focused website arabianbusiness.com reported. The Sky Collection comprises luxury apartments located on the highest levels of the 60-storey tower of The Address Residence Fountain Views.
**The Sky Collection**
Emaar Properties announced on Sunday, April 21, that it is launching sales of its top-end Sky Collection homes, located in the company’s signature Downtown Dubai project. The collection consists of apartments and penthouses ranging from 2,000 square feet to more than 17,000 square feet, Arabian Business reported. According to a company statement, the residences will be serviced by The Address Hotels + Resorts, the hotel brand of the Dubai property developer.
Commenting on the announcement, Emaar’s managing director Ahmad Al Matrooshi explained that “every aspect of the residences” is designed to “meet the highest standards customers expect from a premium serviced residence.”
It seems that with the Sky Collection Emaar aims to capitalise on what it described as “overwhelming sales response” to its serviced apartments project The Address Residence Fountain Views. In December, 2012 the Dubai property developer unveiled a similar collection in another of its projects within Downtown Dubai – The Address The BLVD – which has attracted strong interest from investors.
**Dubai property attractive again**
!m[A New Top-End Offer from the Dubai Property Developer ](/uploads/story/1962/thumbs/pic1_inline.png)
With investors’ confidence returning to the property sector in the emirate, it is to be expected that more projects like the Sky Collection enter the market, attracting strong interest from well-heeled buyers looking for luxury holiday homes. The drop in demand for properties in the sheikhdom that followed the 2008/2009 crisis and erased up to 60 percent of their value seems to be over. Now, the market’s recovery has prompted development companies in Dubai to launch new projects or restart stalled ones. Emaar has been among the most active companies in that respect, launching several high profile projects in recent months. Apart from the already mentioned top-end-home collections, the company has launched Mira townhouses in Reem and The Address Residence Sky View in Downtown Dubai. Emaar’s most recently announced development is Burj Vista, a two-tower complex also located in Dubai Downtown (Emaar to Launch Sales at the Burj Vista Project on April 20).