Emaar's Panorama properties sell out on launch day

28/05/2012 - Dubai Investment News Posted by Bob Brunskill
Emaar's Panorama properties sell out on launch day

People with an interest in opportunities for property investment in Dubai were quick off the mark at a recent event hosted by developer Emaar, as the company's latest launch resulted in a buying frenzy.Panorama at The Views - a complex of apartments and duplexes overlooking the Emirates Golf Course with vistas of the Dubai Marina - is clearly a popular community, as all the units have now sold out.The project includes four buildings reaching to 15 storeys in height, comprising a total of 224 new luxury dwellings.Emaar only made the prices of these units clear to those who appeared at the launch with a cheque book, but brokers revealed to Emirates 24/7 that one-bedroom flats were being offered by the developer at around AED 940 (£162) per sq m.Dubai's property listings put the current rate in neighbouring Fairways West at between AED1,170 to AED 1,500 per sq ft for apartments with a golf course and pool view, making Panorama a very attractive investment opportunity.In a statement, Emaar said the complex "recorded [a] sell-out response", while "all the residences released for sale were bought by customers, who thronged the Emaar Sales Centre on the opening day".The company's customer centre personnel are not aware of the sale prices and they have not been revealed on its official website.At present, the sale price of a two-bedroom apartment in The Views within the same community with a view of the golf course is AED 1.5 million, while a three-bed unit is AED 2.3 million.Handovers for the Panorama's apartments and duplexes are expected by November 2014.According to Emaar, the properties have sizable balconies and rooftop terraces, while other features include picture windows in the reception rooms and bedrooms, kitchens with all modern connections and accented bathrooms.They would appeal to golf lovers and businesspeople, as The Views community is centrally located for Dubai Internet City and Dubai Media City - and it is also well connected for the metropolis' excellent shopping and leisure outlets and restaurants.