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Dubai-based developer reveals AED2bn sales in first half of 2021

Dubai-based developer reveals AED2bn sales in first half of 2021

Sobha Realty reached 80 percent of the company’s annual targets in the opening six months of the year Dubai-based Sobha Realty has revealed sales worth AED2 billion ($544m) in the first six months of the year. The number, announced in the real estate developer’s half-yearly results on Thursday, translates to over 80 percent of the

Sobha Realty reached 80 percent of the company’s annual targets in the opening six months of the year

Dubai-based Sobha Realty has revealed sales worth AED2 billion ($544m) in the first six months of the year.

The number, announced in the real estate developer’s half-yearly results on Thursday, translates to over 80 percent of the company’s annual targets set for the year.

Jyotsna Hegde, president of Sobha Realty, said there had been strong investor interest in the developer’s Sobha Hartland project in Dubai’s Mohammed Bin Rashid Al Maktoum City, with buyers coming from China, India, the UAE and Saudi Arabia.

The Waves in Sobha Hartland.

She said: “The strong performance of the company further strengthens the bullish demand and immense growth potential in the UAE’s real estate sector, amidst the run-up to Expo 2020 later this year.

“Overall, we are witnessing stronger demand in the past few months. The Dubai Land Department has also reported an impressive surge in transactions in June 2021, which reflects the pent-up demand for property in the emirate.”

Hegde added that the increased interest in the city has also been spurred by the government’s proactive measures, including the introduction of the Golden Visa, 100 percent foreign company ownership and remote work visas, in addition to the swift rollout of the Covid-19 vaccination.

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