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 buildings 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.
The completion for this project has been delayed. Emaar has announced the The Hills Residences will be completed by August 2018, while the Vida Residences will be completed by October 2018.
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.
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%.
Oct 2018: Golf-course facing 2 & 3 bedrooms fell drastically in preceeding two years. There are not many sellers either. Buyers are looking to purchase units at original price or with little premium.
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Project Completion Status (as per DLD): 90.27% (as of 18 June 2018)
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