February 2020

Sobha Realty Committed to Milestone 2020,Eyes Sales of AED2.5 Billion

Sobha Realty Committed to Milestone 2020,Eyes Sales of AED2.5 Billion

Over 900 unitsat Sobha Hartland slated for handover throughout year

Dubai-UAE: 04 February 2020 – Sobha Realty, the leading premium real estate developer, today announcedan AED2.5 billion sales target for the year 2020. Following the success witnessed over the past year, when it surpasseditstotal sales target of AED2billion, the company is on track inadvancing its flagship master development Sobha Hartland, generating strong returns and providing an unmatched living experience to its residents.

Speaking on the announcement, PNC Menon, Founder and Chairman of Sobha Realty, said: “The year 2020 is an exciting one for us at Sobha Realty, as well as for the city of Dubai as a whole. With the much-anticipated megaevent Expo 2020Dubai kicking off in October, and the enabling environment createdby strategic government initiatives and reforms, our outlook for the coming year is positive, and we anticipate a strong resurgence in the real estate market.At Sobha Realty, we have set our sights on supporting this growth around the city and look forward to welcoming local and international investors that are keen to make Dubai their home.”

He added:“Sobha Hartland is proving its attractivenessthrough offering a unique value proposition, characterised by unparalleled craftsmanship and an intuitive design philosophy that redefines the art of living. Increasingly, buyers are looking for compelling community living experiences that incorporate exclusivity, convenience and sustainability. The development will continue to see further updates throughout the year, and we are confident that we can surpass the 2019 sales target by a substantial 25 percent.”

With a reputation for the highest standards of quality and timely project delivery, the company also announced thatmore than 900 units are scheduled for handover during the year.

In 2019, Sobha Realty sold 1,491 units, comprising a net area of 1.23 millionsq ft, with Creek Vistas emerging as the most popular project within the development, followed by Greens and Estates villas. The year-to-date results mark a 165 per cent increase in sales value over the same period in 2018.

Launched in 2014, Sobha Hartland is an eight million sq ft luxury freehold master development situated in Mohammed Bin Rashid Al Maktoum City, overlooking Downtown Dubai.Key projects within the community include Greens,Creek Vistas, Creek VistasReservé, Gardenia Villas, Garden Houses, One Park Avenue and Forest Villas. The development is distinguished by its serene vibe, with 30 per cent of the total land area set to encompass a dedicated green cover and open spaces with more than 300 species of plants and trees. Sobha Hartland also offers its residents the convenience of two international schools, as well as a selection of retail and F&B amenities, and a boardwalk along the canal.

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