Emaar Properties has selected Brookfield Multiplex Construction to build its five-start hotel and apartment tower called The Address The BLVD according to ArabianBusiness.com. When completed, it will be Dubai’s second tallest tower at 1,214 feet with 72 stories, shorter only than Emaar’s Burj Khalifa, which is the world’s tallest building.
Established in Australia in 1962, Brookfield Multiplex has completed hundreds of projects across the globe including a number of buildings in Dubai. Other Brookfield projects include The Pinnacle in London, Hilton Surfers Paradise in Australia and Trump International Hotel & Tower in Toronto.
In a press release, Ahmad Al Matrooshi, Managing Director, Emaar Properties, said: “The launch of The Address The BLVD is a strong reiteration of the positive growth trends in Dubai’s real estate sector, led by the significant increase achieved in tourism, hospitality, retail and foreign trade. It also highlights Emaar’s commitment to provide long-term value for our stakeholders by creating premium real estate assets in Dubai and to strengthen our recurring revenues through our investments in the hospitality sector. With the Address hotels in Dubai recording average 85 to 90 percent occupancy throughout the year, The Address The BLVD will further complement the city’s hospitality sector growth.”
The Address The BLVD serviced residences offer views of The Dubai Fountain, the world’s tallest performing fountain, and Burj Khalifa. It will also provide direct access to The Dubai Mall, the world’s largest shopping and entertainment destination, through a new air-conditioned bridge link, in addition to easy access to The Dubai Mall/Burj Khalifa metro station.
Work on the The BLVD, which features studios, and 1, 2, 3 and 4-bedroom serviced residences with prices ranging from $299,500 to $1.6m, is scheduled for completion in early to mid 2015. According to the developer, all units have been pre-sold.
Photo courtesy of Emaar Properties