Dubai’s Housing Boom Prompts Emaar to Start $21 Billion Project

Emaar plans two high-end developments, one including a resort
Dubai home prices and rents are closing in on record levels

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By Zainab Fattah

February 29, 2024 at 8:05 AM UTC

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A Dubai-based developer, best known for its work on the world’s tallest tower, is splashing out 96 billion dirhams ($21 billion) to build two luxury neighborhoods in the city and capitalize on the booming real estate market.

Emaar Properties PJSC is starting sales at The Heights Country Club, an 81 million square feet development valued at 55 billion dirhams, it said in a statement. Residences are also up for grabs at Grand Club Resort, a 41-billion-dirham project that will stretch over 60 million square feet and is set to feature a wellness resort.