Staff Reporter
Dubai, UAE
Sol Properties, a leading real estate developer in the UAE and the real estate development arm of the Bhatia Group, announced the launch of a portfolio of high-end projects with an anticipated gross development value (GDV) of Dh12 billion in the next six months. These projects are expected to significantly impact the UAE real estate market, setting new standards for luxury and efficiency, while contributing to the country’s overall economic growth.
Ajay Bhatia, Chairman of Bhatia General Contracting and Founder and CEO of Sol Properties, said, “At Sol Properties, our real estate development strategies go beyond acquiring prime lands as we seek to develop our own projects, which further underscores our 50-year-long legacy of trust, excellence and integrity under Bhatia Group. Over the years, we have closely witnessed the UAE’s growth and have progressed along with the country by contributing towards its development. Our legacy, which is the hard work of our team of experts over the years, is reflected through our projects developed for both government agencies and private clients. As we strive to exceed the projected GDV and align our objectives with an evolving sector and changing market preferences, we are excited about our forthcoming projects and plans. Through each project, we seek to uphold our longstanding legacy in the industry by adhering to the highest quality and innovative standards, further delivering exceptional value to the country.”
Sol Properties has acquired four million square feet of prime land for ultra-luxury projects and affordable luxury projects. The ultra-luxury developments include a new project in the West Crescent of Palm Jumeirah and Fairmont Residences Solara Tower Downtown Dubai. Combined, these two projects are valued at Dh8.2 billion.
Moreover, Sol Properties recently completed and handed over the affordable luxury project, Oakley Square Residences in JVC, which has been fully sold.
The developer’s landbank includes plots across major locations in the country with two million square feet in flourishing areas such as Jumeirah Village Circle (JVC), Jumeirah Village Triangle (JVT), along with a 500,000 square feet plot in Abu Kadra. These purchases boost Sol Properties’ potential to build more significant projects in the future and expand their presence in the UAE’s most sought-after locations while meeting the evolving market trends and consumer demands.
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Also read: Sol Properties starts construction of Fairmont Residences Solara Tower Dubai
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