SOL Properties Announces Upcoming Projects Worth Dh12 Billion

9/17/2024 3:23:09 PM

(MENAFN- Khaleej Times) SOL Properties, a leading Real estate developer in the UAE and the real estate development arm of the Bhatia Group, announced the launch of a series of high-end projects with an anticipated Gross Development Value (GDV) of Dh12 billion in the next six months. These projects are expected to significantly impact the UAE real estate market.

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 Fairmont Residences Solara Tower Downtown Dubai. Combined, these two projects are valued at Dh8.2 billion.

Moreover, SOL Properties recently completed and handed over the affordable luxury project, Oakley Square Residences in JVC, which has been fully sold.

The 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, Founder and CEO of SOL Properties

Ajay Bhatia, Chairman of Bhatia General Contracting, and Founder and CEO of SOL Properties, 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.”

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