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Nearly 30 percent of the development is sold – Sobha Realty sees a huge surge in demand for its villas and villa plots.
Sobha Realty, a premium property developer based in Dubai, has announced that its iconic Sobha Hartland master project in Mohammed Bin Rashid Al Maktoum City overlooking Downtown Dubai is 50 percent complete. The project is progressing according to the schedule and is planned for handover in 2025.
Construction of nearly 1,100 units, that include villas as well as apartments, has been accomplished across different phases of Sobha Hartland.
The company also announced that nearly 30 percent of its eight million square feet freehold development had been sold. More than half of Sobha Realty's customers are UAE-based buyers, the rest are overseas customers from India, China, Africa, Europe and other Gulf countries.
Once again, the company pointed out a significant surge in demand for its villas with open spaces and villa plots in the Sobha Hartland development. Key projects within the community include Greens, Creek Vistas, Creek Vistas Reservé, Gardenia Villas, Garden Houses, One Park Avenue and Forest Villas.
Francis Alfred, CEO and MD of Sobha Realty, said: 'Sobha Hartland is an iconic development, and it is progressing as per the scheduled timeline, which reinforces our customer-centric approach and our commitment to achieving the best standards in our projects. Work at Sobha Hartland continued unabated despite the challenges due to COVID-19 pandemic, thanks to Sobha Realty’s backward integration capabilities which allowed us to have complete control from conceptualization to completion, as well as giving us the resources to consistently deliver projects in a timely manner and mitigating the impact of supply chain disruptions.'
He also added: 'The development continues to receive a strong response from investors with 30 percent of the inventory already sold, which reflects a robust investor confidence in not only Sobha Realty but also the Dubai real estate market. We have seen a huge demand for indoor space and an appreciation for outdoor areas and this has resulted in a significant increase in our villa sales. The consistent upsurge in sales of our villa communities is a testimony to Sobha Realty’s commitment to align with the needs and preferences of the customers.'
In the second quarter of the year the company celebrated the successful launch of the third phase of the Tranquillity plots, comprising exclusive plots for customized villa development. In addition to that, its new 592-apartment, 35-storey Waves residential tower at The Waterfront District in Sobha Hartland received the immensely positive buyer interest.
Sobha Hartland is distinguished by its serene vibe and convenient location in the heart of the city. Moreover, 30 percent of the total land area is set to encompass a dedicated green zone and open spaces, redefining the new-age living.
