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Construction : Web Exclusive | June 2013 | Source : Construction Update

Bubai's Emaar to revisit Mumbai to sell Mira townhouses

To market its 'Mira' townhouses in Dubai, the Dubai-based Emaar Properties is visiting Mumbai, India’s financial capital, once again. The developer will be selling “Mira” townhouses in Reem master development. The road show will be held on June 10 at Four Seasons Hotel in Mumbai.

In February, Emaar said hundreds of potential customers had visited the two-day sales event in Mumbai where it showcased projects such as The Address Residence Fountain Views I and II, The Address The BLVD, Standpoint in Downtown Dubai; CASA villas in the Arabian Ranches extension; Panorama at The Views in Emirates Living and inventory from its other residential and commercial portfolio in the emirate.

Experts cite price rationalisation and higher yields as prime reasons for Indians buying properties in Dubai. However, the Wealth Report 2013, produced by Knight Frank, revealed that prices for prime luxury properties in Mumbai were almost double that of Dubai. In the past few months, Emaar held roadshows in Doha (March), Singapore (April) and London in May. Market sources told Emirates 24|7 that the developer had not sold Mira untis at its London roadhsow.

The first batch of 188 townhouses, released in March in Dubai, were sold out in hours. Currently, Mira units are listed in the secondary market for Dh1.1 million to Dh2.3 million (depending on the size). The first phase of the project is scheduled for hand-over in 2016.

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