Emaar properties PJSC, Dubai’s largest developer, is tendering several projects in Dubai, which includes Vida Residence Downtown Dubai and Opera Grand, according to the second quarter construction update on the company website. The 66-storey Opera Grand, housed in the Opera District, is in the detailed design stage with the tender process underway for the enabling package. The project is slated for completion in January 2019. The 118-townhouses Maple project, at Dubai Hills Estate in Mohammed Bin Rashid (MBR) City, is in the schematic design stage with expected completion in May 2019. The update also disclosed that the main construction contract is currently being tendered for Dubai Creek Residences in the mega Dubai Creek Harbour development. The six-residential tower project is scheduled for completion in March 2018. The developer is also tendering the main construction contract for the 58-storey Vida Residence Downtown Dubai project, which links by a glass bridge with the Vida Downtown Dubai hotel. The project is slated for completion in May 2018. BLVD Heights, the twin-tower residential development comprising 492 apartments, is in the detailed design phase, the company said. The planned completion is June 2018. Shoring works were due to commence and the construction contract has been tendered for BLVD Crescent twin towers project. The expected completion time is July 2018. The Company is also tendering the main construction contract for Mulberry at Park Heights, a mid-rise tower project in Dubai Hills Estate. Early works have commenced in June 2015 with completion scheduled for September 2018. Similarly, Acacia at Park Heights in Dubai Hills Estate, part of MBR City, is in the detailed design stage. The mid-rise tower project will feature 477 apartments and is scheduled for completion in October 2018. Emaar is also issuing the main construction contract for Samara, the Spanish coastal-influenced 177-villa project in Arabian Ranches. The completion is expected in October 2017. It is also tendering the main construction contract for Aseel, a 55-villa project in Arabian Ranches. Demolition of the existing site facilities and infrastructure works are in progress. The expected completion date is April 2017. Earlier this month, Emaar said second-quarter net profit jumped 16 per cent to AED1.18 billion ($321.3 million), up from AED1.02 billion ($273 million) on the prior-year period. It generated AED6.12 billion ($1.67 billion) in Dubai property sales in the first half of 2015. The developer achieved its latest increase despite relatively sluggish revenue growth and with analysts noting a marked slowdown in Dubai’s recently resurgent property sector.
