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Sobha Realty reports doubled villa sales in H2 2020
Rise in demand for larger homes with outdoor spaces following Covid-19 pandemic boosts villa sales for Dubai-based premium real estate developer
Sobha Realty has reported a significant rise in demand for villas and garden house sales in the second half of 2020.
With the increasing appeal for larger homes and outdoor spaces due to the global Covid-19 pandemic, H2 sales of villas and garden houses in 2020 has doubled at the company’s eight-million square feet flagship development Sobha Hartland situated in Mohammed Bin Rashid Al Maktoum City.
Sobha Realty’s portfolio of villas and townhouses at Sobha Hartland includes the Gardenia Villas, Forest Villas, Waterfront Villas and Garden Houses, all of which saw a strong interest from buyers. With these results, the company projects achieving 70 per cent of its annual target for 2020.
Due to the Covid-19 pandemic, residents have been largely confined to their homes, and living spaces have transformed to incorporate the requirements of work, leisure, and education. According to Property Finder, the number of villas and townhouses searches have increased by a remarkable 400 per cent since the beginning of the year. Between April and November 2020, there have been over 4000 villa transactions, with approximately 63 per cent of these for ready units. Additionally, Property Finder reported that Mohammed Bin Rashid City is among the top five neighbourhoods for buyers searching for villas and townhouses.
Speaking on the company’s performance, Jyotsna Hegde, president of Sobha Realty, said: “As we see positive signs of recovery within the UAE’s real estate market and in Dubai specifically, we are encouraged by the sales results we have recorded in the second half of this year, particularly for villas. The global Covid-19 pandemic has transformed the way people live while creating a need for more space indoors and an appreciation for outdoor areas. The Sobha Hartland master development offers high-rise apartment buildings and villas surrounded by verdant greenery and ample open spaces and we foresee a continued demand for our offerings that combine quality craftsmanship with a unique design philosophy.”
The eight million square feet Sobha Hartland luxury freehold master development was launched in 2014, and is situated in Mohammed Bin Rashid Al Maktoum City, overlooking Downtown Dubai. The development features a number of projects within the community, including Greens, Creek Vistas, Creek Vistas Reservé, Gardenia Villas, Garden Houses, One Park Avenue and Forest Villas. Sobha Hartland is distinguished by its serene vibe, with 30 per cent of the total land area set to encompass a dedicated green cover and open spaces. The master development is set for completion in 2025.
business@khaleejtimes.com
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