Overview
The Hills & Vida Residence at The Hills is a mixed-use residential & hospitality development in Emirates Living being developed by Emaar.
The Hills was launched in June 2013 and Vida Residence was announced in late 2013.
The Hills consists of four mid-rise residential buildings (A1, A2, C1, C2) and all four building contain 1, 2 and 3 bedroom apartments.
Vida Residences has two mid-rise buildings consisting of furnished & serviced apartments as well as a Vida managed Hotel.
The key selling point of The Hills complex is its location. It is located right off-Sheikh Zayed Road and close to JLT, The Meadows & Springs. The project is located along the Emirates Hills Golf-course.
Property Types in The Hills
The Hills consists of 1, 2 & 3 bedroom apartments.
- The 1 bedroom apartments all face towards JLT / Emirates Living (back facing units)
- 2 Bedroom apartments have both views towards the golf-course (front-facing) and towards JLT / Emirates Living (back facing units).
- All 3 bedroom units face the golf-course.
Original Payment-Plan
The payment-plan for The Hills is construction linked and therefore, payments are due as and when Emaar meet construction milestones:
- 15 Down-payment
- 10% September 2013
- 15% April 2014
- 10% November 2014
- 15% due when construction reaches 20% completion
- 15% due when construction reaches 40% completion
- 10% due when construction reaches 60% completion
- 10% due when construction reaches 80% completion
Transaction Activity
October 2015: Following the launch of the Hills, there was a very strong secondary market. Premiums for units in The Hills on the secondary market reached between 20 - 30% at peak. As of October 2015, premiums for units now ranges between 7 - 18% depending on the unit, original price and view.
May 2016: Golf-course facing 2 & 3 bedrooms have transaction premiums ranging from 15 - 18% (though many buyers attempt to make offers of around 10 - 14%). Back facing units have premiums ranging from 8 - 10%.
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Project Completion Status (as per DLD): 41.07% (as of May 15, 2017)
Dubai Land Classification & Escrow Account Details:
Land Number: 929
Project Number: 1346
Real Estate Developer: Emaar Properties
Trust Account Number: 10470130052
Account Trustee Name: NOOR BANK P.J.S.C
RERA Permit No : 15128
Brokerage Firm: Taktical Realty Group LLC