Construction of Dubai Creek Harbour will reach new heights

Construction of Dubai Creek Harbour will reach new heights

Dubai Creek Harbour is a modern community under active development. This cluster of residential and commercial properties is in high demand among buyers. The UAE’s largest developer, Emaar, has purchased the full rights of developing Dubai Creek Harbour.

Content:

Community’s advantages

The community is uniquely located near Ras Al Khor Wildlife Sanctuary, which means that owners of local real estate can experience true unity with nature. Although the district is small, it has extensive facilities, including:

  • Waterfront promenade.
  • Gardens and parks.
  • Sports courts and children’s playgrounds.
  • Educational establishments.
  • Stores and shopping malls.
  • Hospitals and other necessary social institutions.

The emblem of the community is going to be the eponymous building, the most expensive and the tallest one in the world. According to the design, the elegant skyscraper shaped as a minaret will be taller than even the iconic Burj Khalifa. The tower is going to have a unique 360o revolving observation deck and numerous green areas.

Market prospects

Property sales in Dubai Creek Harbour are rapidly gaining momentum. By 2021, the combined value of transactions reached USD 1.09 billion. The buyers’ increasing interest incentivized Emaar to make this staggering purchase. This community is well worth the attention of potential investors, as real estate in Dubai Creek Harbour will only become move expensive as its further development progresses.

A $2.04 billion asset will not hurt the shareholders

According to Emaar, the “deal of the year” will generate only profits and will help to mitigate the risks. The developer’s willingness to pay such a considerable amount suggests its good faith in the mid-term and in the long-term. The district development will help Emaar to grow its revenue through record-breaking sales. The fact that the developer’s stock value is increasing suggests that the investment is profitable. Emaar proves its position with hard numbers:

  • In 2021, a total of $1.14 billion worth of apartment blocks were sold in this cluster.
  • Over the first half of 2022, the combined sales value exceeded $980 million.

This confirms the investors’ growing interest in residential and commercial properties in Dubai Creek Harbour. According to an independent estimate, the actual value of the off-plan residential community varies from $3.97 to $4.27 billion.

Transaction’s importance for Emaar

In long-term projects, consolidation matters. The company’s performance in the first half of 2022 was magnificent. The new acquisition will let Emaar control the undeveloped plots of strategic significance and high potential. Construction also becomes simpler if there is a single supervisor, as the process will be aligned according to the master plan. Emaar’s profit will increase as well.

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