Page 125 - SOL Properties PR Report - September 2024

SOL Properties plans $3.27bn projects in Dubai
SOL Properties plans $3.27bn
projects in Dubai

DUBAI, 23 days ago
SOL Properties, a leading real estate
developer in the UAE and the premier real
estate development arm of the Bhatia Group,
has announced plans to launch a series of
high-end projects with an anticipated gross
development value (GDV) of AED12 billion
($3.27 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, said the company.
Ajay Bhatia
The ambitious expansion builds on the 50-year
legacy of the Bhatia Group in the UAE. The company is a pioneering force in Dubai’s property development and
construction sector, driven by the vision of Ajay Bhatia, Chairman of Bhatia General Contracting, and Founder
and CEO of SOL Properties. The anticipated growth and recent achievements of SOL Properties are a testament
to Bhatia Group’s commitment to architectural excellence and creative ingenuity, it said.

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 development in the West Crescent of Palm Jumeirah and the
prestigious Fairmont Residences Solara Tower Downtown Dubai. Combined, these two projects are valued at
AED8.2 billion.
Moreover, SOL Properties recently completed and handed over the affordable luxury project, Oakley Square
Residences in JVC, which has been fully sold. The 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, it said.
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 over 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, he added. -TradeArabia News Service

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