Emaar Turkey, a wholly-owned subsidiary of Emaar Properties, has launched The Address Residence Istanbul, a collection of five-star serviced residences.
The project marks the first full-fledged hotel and serviced residence project of The Address Hotels + Resorts, the flagship hotel brand of Emaar, in an international market.
The 197 residences, which are fully furnished and will overlook the Marmara Sea, Princess Islands and Bosphorus Strait, are located on levels 12 to 29 of The Address Istanbul, a 49-storey building at the heart of Emaar Square, the mixed-use project by Emaar.
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The hotel rooms and suites are located in the first nine levels in addition to a range of restaurants, a spa, pools and health club, a statement said.
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Ahmad Matrooshi, managing director of Emaar Properties, said: "The global launch of The Address Residence Istanbul in Dubai highlights the strong interest among UAE investors in Turkey's property sector led by the bilateral trade relations and strong tourism growth.
"Turkey is today the most preferred European holiday destination for UAE residents according to reports, which makes the premium serviced residences desirable as second homes or long-term investments."
Ozan Balaban, CEO of Emaar Turkey, added: "Investors in The Address Residence Istanbul will become part of the iconic Address Istanbul hotel, which is defined by its marvelous architecture and superior lifestyle amenities.
"The value proposition that the serviced residences offers is unmatched, as investors become part of the thriving Emaar Square community with a strong business hub, one of the largest malls, a range of leisure attractions and all lifestyle amenities in close proximity. Our promise is to deliver a legendary lifestyle in a legendary city."
The Address Residence Istanbul is designed by Foster + Partners with interiors by HBA, the statement added.
Located in the heart of the city, Emaar Square is the second integrated development by Emaar in Turkey. The first project, Tuscan Valley houses has been handed over and is now a thriving community that also features the Tuscan Shopping Arcade and the prestigious Dolce Vita Club.
Emaar Square will comprise over 1,000 luxury homes and 40,000 square metres of office space, accommodating around 5,000 professionals and The Emaar Square Shopping Mall, one of the largest shopping malls in the country.
It will also have a number of leisure attractions including entertainment centres, an ice rink, a 2,400 seat mega movie theatre complex and underwater zoo, taking inspiration from Emaar's flagship retail asset, The Dubai Mall.
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