Page 88 - SOBHA REALTY PR REPORT - OCTOBER 2024
P. 88

“Low-density development is very much part of the objective.”


               Sobha had acquired the UAQ land bank in 2016-17, but held it in reserve

               until the UAE real estate boom took full hold from 2022. Now, it’s the turn

               of individual Northern Emirates to get on this bandwagon.



               Property analysts say that in setting the prices, Sobha is giving investors the
               promise of a low-density residential destination - and a full-scale island at

               that - with all the luxury trappings. There will be a golf course and a marina

               with extensive berthing. (Those specs will be mapped out once the

               masterplan is done.)


               'W e e k e n d  g e ta w a ys'



               "Developers like Sobha in UAQ and Aldar in RAK are going for luxury

               offerings and - most important - with a defined number of overall homes in
               it," said an estate agent. "This is what high networth investors want to have,

               especially those making their second home purchases or weekend

               getaways."



               As for taking up Phase 2 at Sobha Siniya Island, Alfred said: "That's for the
               future to decide. Our immediate target is finishing off Phase 1 in December

               2027."
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