Emaar Properties, a leading global real estate developer, is now offering a new portfolio of luxurious homes within Downtown Burj Dubai under its Rent to Own scheme.

The Rent to Own scheme lets customers lease the ready-to-live-in residences for one year before making a purchase option. Should they decide to ahead with the purchase, the entire rent for the first year will go towards the down payment. They can renew the rental lease if they do not decide to purchase the home after one year.

The scheme, launched by Emaar in November 2008, has gained strong response from customers, who benefit from the convenience of staying in a home of their choice for one year before making a purchase decision. With the entire rent of the year going towards down payment, the scheme also presented a financially beneficial option.

The residences showcased as part of the programme are located in the residential clusters of The Old Town, Old Town Island, South Ridge and The Residences, all established communities with an array of lifestyle amenities.

South Ridge and The Residences are impressive high-rise towers while The Old Town and Old Town Island feature elegant Arabesque architectural features.

All the homes have upgraded finishes and offer prime views of the 500-acre Downtown Burj Dubai, described as the new heart of the city. The newly released units include one- to five-bedroom apartments with either large terraces or balconies. The Old Town, Old Town Island, The Residences and South Ridge are all centrally located in Downtown Burj Dubai.

Ahmad Al Matrooshi, managing director – UAE, Emaar Properties, said new units are being included in the scheme following the strong customer response to the programme.

“The diverse collection of newly released units offers customers the convenient option to own a home in one of Dubai’s most sought-after communities after experiencing the lifestyle differential for one year.”

All homes offered as part of the Rent to Own scheme are near Burj Dubai, the world’s tallest building, and residents only need to take a short stroll to watch The Dubai Fountain, the world’s tallest performing fountain and a spectacle that performs to popular Arabic and World music.

Residents also have easy access to Souk Al Bahar, a modern shopping and F&B destination designed in Arabesque fashion. Downtown Burj Dubai already has four premium hotels – The Address Downtown Burj Dubai, The Palace – The Old Town, Al Manzil and Qamardeen.

“With the opening of The Dubai Mall and the addition of leisure attractions such as The Dubai Fountain and Emaar Boulevard, visitor traffic to Downtown Burj Dubai has increased considerably. This has further driven rental demand in the community,” said Matrooshi added. – TradeArabia News Service