sobha real estate targets end users for its residential project
Sobha Group, the Indian real estate giant, which launched its first residential project, Sobha Daffodil at Jumeirah Village, Dubai in October, has announced that a large portion of its development portfolio in Dubai will be created with the aim of providing well appointed, affordable housing options, locally.
“We intend to reach end users paying monthly rents in the range of AED 5,000 to AED 6,000. Our talks with leading banks have convinced us that an EMI (Equated Monthly Instalment) in this range can be worked out easily for Sobha Daffodil,” said Ajay Rajendran, Vice Chairman, Sobha Real Estate LLC.
“The Dubai property market, although currently led by investors and real estate agencies, has maintained a stable growth curve helped by the influx of thousands of professionals. Our targeted approach is intended to provide greater value for money and higher customer satisfaction to those professionals actually looking to set up home in the Emirate,” Ajay Rajendran added.
Sobha Daffodil at Jumeirah Village is a residential development housing 178 apartments, offering a range of studios, one-bedroom, two-bedroom and three-bedroom apartments.
“The project has been conceived keeping the end user in mind. We have designed realistic living spaces and drawn up plans that indicate the exact space available with to-scale furniture layouts. This means that the end user moving into the apartment has the exact space management in place and has no surprises after the apartment is ready. This futuristic planning has been carried out keeping in mind the end user psyche when moving into a brand new home,” Ajay Rajendran explained.
The Sobha Group expects to announce a regional portfolio of over AED 2 Billion by the middle of 2008 which will include a range of commercial and residential properties at premium locations in Dubai.
