New Dubai on the Creek: Emaar launches Creekside 18
Launch slated for September 12, prices expected to be between Dh1,250 and Dh1,400 psf
Published Monday, August 31, 2015
Called ‘New Dubai’ by the joint venture between Emaar Properties and Dubai Holding, the multi-billion-dollar mega development Dubai Creek Harbour at The Lagoons will witness the release of the second project this month.
Creekside 18, two 37-storey towers with 480 residential units in the Island District of the mega development, will be launched on September 12, property brokers told Emirates 24|7.
“The project is slated for completion in second quarter 2019,” brokers said, who expect launch prices to be in the range of Dh1,250 to Dh1,400 per square feet (psf).
According to the project brochure, the Dubai Creek Harbour master plan is almost three times larger than Downtown Dubai and will support its commercial and cultural development, creating a ‘new Dubai.’
The first project – Dubai Creek Residences – a six-tower project in the Island District, was launched in October 2014.
Emirates 24|7 reported in November 2014 that units in the first tower were sold for Dh1,400 to Dh1850 psf.
“Units facing the Dubai Creek were sold for Dh1,850 psf while those without the view were sold for Dh1,400 psf,” an agent, who bought apartments in the tower, had said.
Dubai Creek Harbour at The Lagoons is a six million square metre mixed-use development and will house 3,664 office units, eight million square feet of retail space, 39,000 residential units and 22 hotels with 4,400 rooms, while the centerpiece will be the ‘Dubai Twin Towers’ that will be the tallest twin towers in the world.
The Lagoons master development was originally launched in April 2006 and was to cover an area of 70 million square feet, comprising seven detached islands that were to be interlinked with bridges. The value of the project was then quoted at Dh65 billion.