Dubai Creek Tower: Emaar officially relaunches the project!
If there's one project in Dubai that's generating a lot of anticipation, it's the Dubai Creek Tower, in the Dubai Creek Harbour district! Just as the project seemed to have stalled, the CEO of the Emaar Group made a surprising announcement. We'll tell you all about it in the rest of this article.
What is the Dubai Creek Tower?
Originally, the Dubai Creek Tower was due to be built in 2020. This would have been a grand celebration of the Dubai World Expo being held that same year. It was to house stores, restaurants, corporate offices and several observation platforms.
The figures were impressive. For example, the concrete base to support the tower's weight and prevent it from shifting would have been 75 metres high (and buried underground). Another figure was that it would have topped 1,000 metres, making it the world's first tower of this height.
But work was finally halted by Emaar, in December 2020. What has happened since? Not much, apart from the recent announcement of the launch of the second version of the project. A redesigned tower, which could be completed in 2025.
Emaar announces the return of the Dubai Creek Tower
While some wondered how much longer it would be before the Dubai Creek Tower saw the light of day, Mohammed Alabbar, founder of the Emaar Group, confirmed that construction would begin within a year.
Indeed, a major competition was recently launched in which several major international companies took part. The aim? To come up with a completely new design!
The tower is currently being redesigned. The project is expected to last 7-8 months. The aim for Emaar Properties is to put in place a completely new concept, before starting work.
Emaar, 45 towers and 15,000 apartments by 2023
The project is part of an ambitious global vision. Indeed, Emaar Properties, through its founder, has confirmed that it intends to build and deliver, by 2023, no less than 45 new towers, for a total of 15,000 apartments!
So much to look forward to. Emaar continues to grow! With one project after another, the company has confirmed a 15% increase in net profits for the first half of 2023, to AED 4.9 billion. Added to this is a 15-20 year expansion plan, anticipating market and demand trends.
Guillaume Giroux, Dubai Immo founder and real estate expert, Dubai, UAE
As founder of the Dubai Immo Group and a real estate investor, I bring you daily updates on the Dubai market. My aim is to provide you with all the keys you need to invest wisely and securely, by sharing my in-depth analysis and strategic advice.
