Emaar to launch residential tower in Dubai
Dubai-based master developer Emaar Properties PJSC will be launching Al Murad, a new residential project in Al Barsha, company registered brokers told Zawya Projects.
"The 17-storey freehold tower with 170 units will be launched shortly," the agent said without providing details about the construction timeline.
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In October 2016, Zawya Projects reported that the company had launched Park Point, a residential project, in Dubai Hills Estate development. Reuters reported that Emaar expects a 20 per cent reduction in costs in 2017.
A July 2016 report by Reuters said that the developer recorded a net profit of 1.27 billion dirhams ($345.8 million) for the second quarter ended 30 June, 2016, against 1.18 billion dirhams ($321 million) for the corresponding period in 2015.
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