Betting on a bubble? New $4 billion residential initiatives announced in Maktoum City
Sobha Developers is launching the $4 billion Sobha Hartland, a new mixed-use development within Mohammed bin Rashid Al Maktoum City, Sobha Group vice-chairman Ajay Rajendran exclusively told Khaleej Times ahead of the official announcement of the project today.
Located just three kilometres from Burj Khalifa, the exclusive, ultra-stylish yet family-orientated community has more than 30 per cent of the 185-acre project dedicated to green living and is now offering its luxury homes for sale.
Rajendran said the project would have all the amenities a community needs, spanning schools, retail outlets, hotels, spa and entertainment facilities all in one central location. It is the ideal neighbourhood for family living with numerous parks and leisure facilities within walking distance, he emphasised.
The Sobha Hartland residential offering will comprise of 282 contemporary L-shaped villas plus mid- and high-rise apartments with a focus on space and a modern feel throughout, according to Rajendran.
In addition to villas, the project will have 18 low-rise apartment buildings, a few high-rise buildings, three hotels and two international schools, he explained.
“We are confident that the market will appreciate the location and quality of design,” he said, adding that the construction has already started and the company is targeting to deliver a big part of the initial phase by the end of 2016.
“We have prioritised infrastructure, landscaping, ‘Signature’ villas, Garden Apartments and schools followed by hotels and retail, and the rest are yet to be decided,” he said. The Garden Apartments are overlooking 5.6 acres of landscaped gardens with variety of trees and plants, he added.
The Garden Apartments range from studio to three-bedroom duplexes — each reflecting classic modernity while maintaining a balance of style and functionality.
“I am sure the market will appreciate it. Villas are L-shaped with ample light and ventilation to every part of the house without compromising on privacy,” he said.
The freehold properties are designed to meet individual and family needs and range from spacious four-, five- and six-bedroom Signature villas.
The villas are set to be completed and handed over by late-2016.
The project is an intimate development, centrally located in the heart of Dubai, with easy access and only a few minutes drive from the Dubai International Financial Centre and The Dubai Mall.
“We would like to create a destination for people who are working in the DIFC, Business Bay and other adjacent areas,” Rajendran said.
The development will be crafted with the same attention to detail that Sobha developments are renowned for following the group’s mission, “No Shortcuts to Quality”.
The Sobha Group is one of the fastest-growing and fully-backward integrated real estate players in the world responsible for all areas of the project including masterplanning, architecture, interior design and construction. With the goal of changing the way people perceive quality in the real estate sector in the Middle East, Sobha Hartland is committed to raising the bar and setting new standards in the real estate landscape in the region.
Established in 1975, the group is a multi-national, multi-product group with significant developments and investments in the UAE, Oman, Qatar, Bahrain, Brunei, Tanzania, India and China. With a reputation for quality projects delivered to exacting standards on time, the Sobha Group has credentials of delivering more than 60 million sqft.
- Ironic much? Sharjah's 'affordable' rents is the exact reason they're now skyrocketing
- Mounting supplies: Dubai's impending property correction
- The $200 billion boom and slave labour: the realities Qatar must come to terms with
- This times it's North Koreans! Modern-day slavery still 'rampant' in Qatar
- The Dubai Tram: A good ride for Marina property prices or not?
- TECOM Investments unveils future strategy and initiatives to support Dubai's Transformation into a Global Innovation Hub
- A new phase? Dubai real estate 'maturing'
- Emaar Properties records first quarter 2008 profits of AED 1.655 billion (US$ 0.451 billion)
- Emaar reports record profits of AED 1.517 billion