Emaar announces Dh73 billion project; Bollywood superstar Shah Rukh Khan attends launch

Dubai’s master developer Emaar Properties on Wednesday launched a huge waterfront project – The Oasis by Emaar – at a cost of $20 billion (Dh 73.4 billion).

Spread over a total land area of more than 100 million square feet or 9.4 million square meters, it will be one of the largest developments in Dubai, providing 7,000 residential units focusing on large mansions and villas with spacious plots, providing residents with views of water canals, lakes, and parks.

The project was launched in the presence of Bollywood superstar Shah Rukh Khan.

"Whenever Emaar presents us with an urban marvel, it immediately follows it with another new destination that is a masterpiece in and of itself, such as The Oasis by Emaar. This is not unusual for Dubai, a great metropolis that has become one of the world's most famous, elegant, and advanced cities,” Khan said.

The development is designed to create a resort-style lifestyle, with 25 per cent of the land dedicated to lakes, water canals, parks, jogging tracks, green spaces, and various luxury amenities. This emphasis on recreational spaces allows residents to enjoy a high-quality living environment and engage in an active and healthy lifestyle.

The project will also feature a 1.5 million square feet retail area, hosting a wide array of lifestyles and a variety of food and beverage outlets. The Oasis by Emaar is situated in a prime location within Dubai, surrounded by high-end developments. It offers proximity to four international golf courses, allowing residents to indulge in their passion for golf. The development is conveniently located just a 20-minute drive from Downtown Dubai.

The company didn't disclose the exact location, however, the industry sources claim that the project is located in the vicinity of Academic City Road.

One of the world’s largest real estate companies, Emaar has a land bank of 1.7 billion sqft in the UAE and key international markets. It has so far delivered over 94,000 residential units in Dubai and other global markets since 2002. Emaar has strong recurring revenue-generating assets with over 1,300,000 square meters of leasing revenue-generating assets and 37 hotels and resorts with 8,134 rooms. Currently, 37 per cent of Emaar’s revenue is from its shopping malls & retail, hospitality & leisure and international subsidiaries.

“Our primary objective is to design one-of-a-kind destinations that complement our clients' opulent way of life while providing unmatched comfort and luxury. Our most recent integrated project, The Oasis by Emaar, is poised to complement the urban landscape of Dubai and redefine the future of luxurious living amidst nature and water, blending harmonious architecture and exceptional amenities,” said Mohamed Alabbar, the founder of Emaar.

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