Page 115 - SOL Properties PR Report - September 2024

UAE real estate developer announces $3.3bn project pipeline - Arabian Business: Latest News on the Middle East, Real Esta…
SOL Properties has acquired 4 million sq ft 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 the prestigious Fairmont Residences Solara Tower
Downtown Dubai.

Combined, these two projects are valued at AED8.2bn ($2.2bn).

Moreover, SOL Properties recently completed and handed over the affordable luxury

project, Oakley Square Residences in JVC, which has been fully sold.

The project’s successful completion underscores the developer’s unwavering
commitment to delivering high-quality residences that align with market demand.

The developer’s landbank includes plots across major locations in the country with 2

million sq ft in flourishing areas such as Jumeirah Village Circle (JVC), Jumeirah Village

Triangle (JVT), along with a 500,000 sq ft 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.

Ajay Bhatia 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.”

With a portfolio of more than 250 transformative projects, Bhatia Group has secured a
distinguished position in the industry for its project planning and construction,

environmental impact assessment, design and safety management.

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