On the back of the UAE’s strong economic recovery and based on the encouraging response from its investors, Sobha Realty, the leading UAE-based premium real estate developer, has achieved its revised sales target of over $1 billion for 2021.
Through the year the developer has consistently expanded its offering at its flagship iconic Sobha Hartland development – the luxurious freehold community in Dubai’s Mohammed Bin Rashid Al Maktoum City that continues to attract global investors.
Strategically positioned in the heart of the city, Sobha Hartland, an eight million sq. ft luxury freehold master development launched in 2014, is known for key projects within the community, including Greens, Creek Vistas, Creek Vistas Reservé, Gardenia Villas, Garden Houses, One Park Avenue and Forest Villas. It is now 60% complete and on track for handover in 2025.
Speaking about the positive sentiment in Dubai’s real estate sector, PNC Menon, Founder and Chairman, Sobha Group, said: “The real estate market in Dubai continues to scale new heights. Despite the pandemic, transactional activity has been high in the emirate. We are optimistic about the sector outlook in 2022. Dubai offers ease of business like none other city in the world and great opportunities for growth. Now, with more than 90 per cent vaccinated, it is also the safest city in the world. This is in line with our goals to further strengthen our position as a leading real estate developer offering premium living experiences for home buyers.”
Francis Alfred, Managing Director of Sobha Realty, said: “Our growth in 2021 is a testimony to our passion for perfection, and commitment to quality, timely delivery and uniquely crafted bespoke designs. To achieve the sales target of over $1 billion in 2021 amidst competitive and challenging market condition speaks volumes of Sobha Realty’s passion for excellence, and the investors’ confidence in our project. As the UAE continues to attract global talent and investments, backed by robust policies, fiscal strength and advanced infrastructure, it inspires us to set higher benchmarks in the years to come.
Over the past few years, Sobha Realty has consistently showcased its resilience and strength as a leading real estate developer, creating communities for residents that enhances their quality of life and promotes wellbeing. This year Sobha Realty announced its impressive Waterfront District at Sobha Hartland with the launch of Waves and Waves Grande. Both the projects received keen market interest with 80% nearly are sold out.
This year, the company also celebrated the launch of the Tranquillity plots within Sobha Hartland, following the successful sell-out of all the phases.
Eager to expand its footprint and continue its expansion plans, Sobha Realty has acquired 11 million square feet of land for new developments, strategically located near Sobha Hartland, new projects will be completed in the next eight years.
The new year will also see the developer launch another iconic project on Sheikh Zayed Road that promises to offer residents a truly magnificent lifestyle.
With these iconic developments and future-ready communities in the most sought-after locations in Dubai, Sobha Realty continues its impressive journey of creating world-class residential projects that ensure unmatched living experiences.