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Middle East expansion continues for Sobha |
| Written by GMS Advertising | |
| Sunday, 03 February 2008 | |
| Sobha Group is continuing with its rapid expansion plans for the Middle East, following the launch of its fourth project this year, Sobha Sapphire. “It is our aim to become one of the trusted names in Dubai’s property development, with emphasis on timely delivery, quality development and well appointed spaces,” said Ajay Rajendran, Vice Chairman, Sobha Group. With three projects launched in 2007 and one project launched in January 2008, the Group has ambitious plans to announce a regional portfolio of over AED 3.5 Billion by the middle of 2008, which will include a range of commercial and residential properties at premium locations in Dubai. Sobha’s first two commercial projects in Dubai have already sold out. Sobha Ivory I and Ivory II towers at Business Bay, launched at the beginning of 2007, offer office, commercial and retail space, and have been sold on a freehold basis. Next came the Group’s first residential development, with Sobha launching Sobha Daffodil at Jumeirah Village at Cityscape Dubai in October. The 178-unit ten-story apartment complex was sold out by December 2007. Sobha launched Sobha Sapphire, another commercial development at Business Bay, in January 2008. Sobha Sapphire, located on Al Khail Road, will offer a mix of commercial and office space. The futuristic 19-storey building will feature 18,000 square feet of retail space spread over the ground floor. Office space will be located on floors 4-19, with a total of 165 office units ranging in size from 900 square feet to a spacious 2,000 square feet. “The success of our first three projects gives us the confidence to move forward with our ambitious expansion plans for the region. Sobha is already a well respected name in India and it is our aim to create the same quality-driven reputation in the Middle East,” Ajay Rajendran explained. Sobha Group has long had a presence in the Middle East. The company Chairman, Mr. PNC Menon established the Services & Trade Group in Oman in the 1970s, specialising in interiors outfitting. Today, the focus of the Group is to become a leader in the field of property development, renowned for quality, engineering excellence, on time delivery and customer satisfaction. |
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