Emaar Development, a subsidiary of Emaar Properties, has secured a substantial land parcel in Dubai valued at AED 2.93 billion (approximately $798 million). This acquisition is part of the company’s strategy to expand its portfolio of luxury residential projects within the emirate.
The newly acquired land spans 60 million square feet and is situated near the existing Oasis masterplan. This purchase complements an earlier acquisition of 81 million square feet in the same vicinity, bringing the total landholding in the area to 141 million square feet.
Emaar has announced plans to develop two major projects on these combined plots: The Heights Country Club & Wellness and the Grand Polo Club & Resort.
The company anticipates that these projects will not only enhance its sales and profitability but also reinforce its position as a leading global property developer. By offering high-standard luxury living experiences, Emaar aims to meet the growing demand for upscale residential properties in Dubai.
Emaar Development’s recent acquisitions and project launches reflect its commitment to strategic growth and its confidence in Dubai’s real estate market. The company’s focus on developing premium communities aligns with its vision to create exceptional living environments for residents.
