Page 123 - SOL Properties PR Report - September 2024

SOL Properties Announces Upcoming Projects With Anticipated AED 12 Billion GDV, Elevating Country's Real Estate Market …

17
Sep

News
SOL Proper es Announces Upcoming Projects With An cipated AED
12 Billion GDV, Eleva ng Country’s Real Estate Market
SOL Proper es,a leading real estate developer in the UAE and the premier real estate development arm of the Bha a Group, announced the
launch of a series of high-end projects with an an cipated Gross Development Value (GDV) of AED 12 billion in the next six months. These
projects are expected to significantly impact the UAE real estate market, se ng new standards for luxury and efficiency, while contribu ng to
the country’s overall economic growth.
The ambi ous expansion builds on the 50-year legacy that the Bha a Group has upheld in the UAE, establishing itself as a pioneering force in
Dubai’s property development and construc on sector, driven by the dis nc ve vision of Ajay Bha a, Chairman of Bha a General Contrac ng,
and Founder and CEO of SOL Proper es. The an cipated growth and recent achievements of SOL Proper es are a testament to Bha a Group’s
commitment to architectural excellence and crea ve ingenuity.
SOL Proper es has acquired 4 million sq. . of prime land for ultra-luxury projects and affordable luxury projects. The ultra-luxury developments
include a new esteemed project in the West Crescent of Palm Jumeirah and the pres gious Fairmont Residences Solara Tower Downtown Dubai.
Combined, these two projects are valued at AED 8.2 billion.
Moreover, SOL Proper es recently completed and handed over the affordable luxury project, Oakley Square Residences in JVC, which has been
fully sold. The project’s successful comple on underscores the developer’s unwavering commitment to delivering high-quality residences that
align with market demand.
The developer’s landbank includes plots across major loca ons in the country with 2 million sq. . in flourishing areas such as Jumeirah Village
Circle (JVC), Jumeirah Village Triangle (JVT), along with a 500,000 sq. . plot in Abu Kadra. These purchases boost SOL Proper es’ poten al to
build more significant projects in the future and expand their presence in the UAE’s most sought-a er loca ons while mee ng the evolving
market trends and consumer demands.
Ajay Bha asaid: “At SOL Proper es, 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 Bha a Group. Over the years, we have
closely witnessed the UAE’s growth and have progressed along with the country by contribu ng 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 objec ves 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 innova ve standards,further delivering excep onal value to the country.”
With a por olio of over 250 transforma ve projects, Bha a Group has secured a dis nguished posi on in the industry for its project planning
and construc on, environmental impact assessment, design and safety management. Through the ultra-luxury projects, investments and land
acquisi ons of SOL Proper es, the Group significantly contributes to the UAE’s thriving economy by crea ng new opportuni es and s mula ng
related industries such as construc on and services.

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