The city of architectural dreams is set to see yet another shining marvel on the star-studded skyline of Dubai.
The Dubai Creek Tower project, led by Emaar Properties, is undergoing a redesign phase. In a recent statement shared by Emirates News Agency (WAM), CEO of Emaar Properties; Mohammed Alabbar disclosed that the tower's new concept is in the works.
And here’s everything we know!
The construction of the tower is expected to commence within a year, with the next 7 to 8 months dedicated to refining and perfecting the fresh concept in collaboration with an international firm.
Mohammed Alabbar emphasised his hope to break ground soon and bring this ambitious project to life.
Looking forward, Emaar Properties is gearing up to deliver an impressive tally of 45 towers, featuring a whopping 15,000 apartments, in the year 2023.
Mohammed Alabbar expressed his confidence in the company's future prospects, highlighting their strong financial performance during the first half of the year. Notably, revenues reached an impressive AED12.3 billion, while net profits surged by 15 percent to AED4.9 billion.
As H1 2023 performed remarkably for the property market, it comes as no surprise that Emaar has seen revenues reach AED 12.3 billion. Want to know how the H1 2023 market performed? Take a look at Allsopp & Allsopp Group’s market snapshot on H1 2023.
Mohammed Alabbar, the visionary behind Emaar Properties and e-commerce platform Noon, also praised the UAE's competitive economy and stable investment climate, crediting the forward-thinking leadership for fostering such an environment.
"Emaar Properties and Noon have thrived thanks to the country's commitment to improving the business landscape to attract investors of all kinds," he stated.
Beyond the immediate future, Mohammed Alabbar also disclosed that Emaar Properties' Board of Directors is outlining expansive plans for the next 15 to 20 years. These plans encompass the launch of exciting new projects, indicative of the company's commitment to ongoing innovation and growth.
Mohammed Alabbar's confidence in the UAE's economic trajectory was unmistakable. He cited the country's robust growth rates and impressive economic performance, surpassing international estimates, all thanks to the wisdom of the leadership.
With these developments on the horizon, Dubai's skyline is set to evolve once again, showcasing the city's commitment to innovation, progress, and iconic architecture.
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