One of the largest Dubai and the UAE developers Emaar Properties plans to launch a new residential and hospitality project in the heart of Dubai on December 12.
Inspired by the success of its first project under The Address brand the developer intends to replicate it now in The Dubai Opera district, which has its dominant, a unique building of The Dubai Opera already being built.
The first project The Address Residence Sky View was launched back in 2013 in Downtown Dubai and saw an unprecedented response from property buyers and investors.
The Address Residence Dubai Opera will be located near Burj Khalifa and Burj Lake and will consist of 65-storey residential tower and a 55-storey hotel/serviced apartment tower. Each of the buildings will have a build-up area of nearly 590,000 square feet.
The design of the towers at The Address Residence Dubai Opera is inspired by Arab culture and seafaring history and, as well as the building of The Dubai Opera, will resemble the sail of the traditional Arabian dhow vessel.
Prices for apartments in the new development have not yet been disclosed, but in May this year Emaar was selling similar property in the Forte in the same area at a price of USD 735 per square foot.
The Address Residence Dubai Opera is scheduled for completion in July 2020. Meanwhile, the infrastructure of The Dubai Opera district is already nearing completion. Opera House will be handed over by March 2016, the developer says.