Page 86 - SOBHA REALTY PR REPORT - OCTOBER 2024

Quwain is going for an island destination to establish its credentials as a

real estate investment destination.

This is where the ‘Sobha Siniya Island’ floats into view. A project from

Sobha Realty and Umm Al Quwain Properties, Phase 1 of the development

itself adds up to a substantial 17 million square feet. The first lot of homes

have been released and with prices firmly in the luxury range. (Emaar is the
other major league Dubai based developer to have a UAQ project.)

“Given that Sobha Siniya Island is offshore destination and with the

promise of extensive waterfront living, the prices of the properties had to

match,” said Francis Alfred, Managing Director of Sobha Realty. “Yes, UAQ

is still relatively new territory for freehold investments, but what’s being
built will justify that.

“Plus, from Dubai Airport, we are talking about reaching Sobha Siniya

Island in 45-60 minutes, and that’s a unique proposition too.”

Risin g p o p u la rit y o f Nort h e rn Em ira t e s

The UAE’s northern emirates are undergoing their own property and
construction lift-offs in various degrees. Ras Al Khaimah has been a

significant beneficiary, with a simultaneous hospitality boom to add to the

mix. (In fact, RAK property values have also seen sizeable gains in the

secondary market within the last 12 months.)