The Address BLVD was Emaar's second major project launched in 2012 (after Panorama in The Views) and it signified Dubai's return from the difficult period following the 'Great Recession'. Address Blvd was the first luxury project announced in Dubai since at least late 2008 and the development sold out within hours of launch. Reminiscent of the good old days, some buyers stood in ques over 48 hours before the launch date.
The Address brand is extremely strong in the UAE and Emaar continue to make all the right moves towards expanding that brand in the region. As of Dec 2014, the only two currently ready Address hotels in Downtown command some of the highest sale and rentals in Dubai.
The Address Blvd is a striking building which will add beautifully to the Dubai skyline. Towering 72 floors, it will be the second tallest building in the Downtown district. One negative observed is the impact such a large project would have in an already congested part of Downtown.
The Address Blvd will have a total of 200 hotel rooms and 542 serviced apartments. The serviced apartments were sold by Emaar in 2012 and these units have a very strong secondary market, commanding the highest premiums of any off-plan project in the Downtown district (Dec 2014).
Launch prices for Address Blvd were between AED 1,700 - 2,000 psf.
March 2016: Read our Special Report on the Downtown Dubai Off-Plan Market Q1 2016
August 2016: Handover is expected in February 2017.
Dubai Land Classification & Escrow Account Details:
Land Number: 164
Project Number: 1328
Real Estate Developer: Emaar Properties
Trust Account Number: 10442190011001
Account Trustee Name: Noor Bank
RERA Permit No:: 11045
Brokerage Firm: Taktical Realty Group LLC