Construction has already begun and the first apartments will be ready for handover by the end of 2006.
The units comprise one-room to four-room apartments and penthouses ranging from 725 sq ft to 3,150 sq feet area.
The sales centre will be open tomorrow from 9:am to 8pm, seven days a week.
General Sheikh Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and UAE Minister of Defence expressed satisfaction with the uniqueness of the development during his visit the Old Town Sales Centre on Monday.
Shaikh Mohammed was at the Burj Dubai site to witness the first cement being poured in the foundations of the world's tallest building.
"The Old Town is more than just our trademark lifestyle community. It is Emaar's finest hour," said Bahiya Kayed, sales manager, The Old Town Sales Centre.
"This mid and low-rise lifestyle choice blends the essence of modern living with the beating heart of Dubai. It is a community that is a fusion of the senses including east-meets-west cuisines, old-meets-new lifestyles and past-meets-future entertainment," she said.
"The lifestyle in this community motivates people to get out of their cars and stroll. It encourages them to slow down their hectic pace.
"It also creates a safer, more vibrant community which is why The Old Town is a benchmark for future developments," she said, while adding that vehicles will be parked in underground car bays.
With a building area spread over 3.7 million square feet, The Old Town will feature courtyard apartments and Souk-styled retail facilities recreating at once the mystical world of ancient Arabia associated with lush palms, winding alleys and bustling marketplaces with exotic merchandise.
Walkways, rooftop terraces, landscaped gardens and water features will provide a sense of exclusivity.
Luxury hotels and an indoor retail facility designed in traditional style with domes, arches and volumes, will anchor the commercial neighbourhood.
"I have no doubt that The Old Town development will present an attractive investment proposition to the prospective homeowner because it's an outstanding model of an integrated urban economic community with a touch of traditional Arabic class," Bahiya said.
The Old Town Sales Centre will provide a window to what the Old Town Development will be all about and is prepared with meticulous care to showcase the rich diversity of the Middle Eastern culture.
The centre's rich Arabic architecture, period furniture and fittings are made unique with exquisite details from the Arab heritage.
The ornate carved doors open into a welcome area that leads into a traditional Arab courtyard experience replete with a gushing fountain, a fully furnished model suite and a scale model of the Old Town complex.