IREIS Press Releases

SOBHA Group lists Pakistanis as major investors for real estate investments in Dubai

Abu Dhabi, United Arab Emirates, 16 October, 2016: The U.A.E.’s thriving property market is mostly dominated by foreign investors, including Pakistani nationals. The total value of foreign investment for 2016 in the Dubai real estate market approached AED 44 billion, from 22,834 investors of 136 nationalities. Pakistani nationals ranked 3rd with a contribution of AED 4.4 billion worth of property transactions across 3,372 investors.

When it comes to real estate investment, UAE remains to be one of the most preferred destinations for most Pakistani investors looking to buy property abroad. Major reasons why Pakistani investors are attracted to purchasing assets in the UAE are their options of a safe investment diversification, economic and political stability and potential for capital appreciation.

The biggest reason for this being the proximity of Dubai to Pakistan, but there are several other factors such as low crime rate, no tax on rental income, flexible payment plans and property investor visa facility. Sobha Group, one of UAE’s top real estate developers, is one of the most preferred companies to invest with owing to the unparalleled quality along with the unmatched location of its projects which is also set on the iconic Dubai Water Canal.

Sobha Group targets Pakistanis as one of their biggest investors, which is why they have scaled up their marketing activities in Pakistan. Sobha Group will be exhibiting at the upcoming Abad- Jang EXPO in Islamabad on March 24th, 25th and 26th. Coupled with a diverse range of property options along with an excellent payment plan, Sobha Group is positive to engage with potential investors and end-users at the expo looking at making an investment in UAE.

Sobha Group at present has three major projects under construction, two of which are located at prime locations in Dubai and are expected to be completed by 2020. The Sobha Hartland project was launched in 2014, which is a $4 billion dollar, mixed-use development. The resort-style luxury housing project encompasses 8 million square feet of freehold community in Mohamed bin Rashid Al Maktoum City. 30% (2.4 million square feet) of the community is only reserved for greenery. It is the only freehold community located on the Dubai Water Canal in the epicentre of Dubai with an easy access to the city’s hottest attractions like the Burj Khalifa, Meydan racecourse, Ras Al Khor Wildlife sanctuary and many more within a 3 km radius.

Sobha Hartland encompass a limited collection of ultra-contemporary villas, townhouses, modern mid & high-rise apartments, a clubhouse, two international school, three boutique hotels, premium restaurants, retail, spa, community mall and leisure activities. The development offers a range of luxury products catering to both individuals and families alike looking for the ideal homes in Dubai. This makes Sobha Hartland an ideal long-term investment for Pakistanis in Dubai.

The development has commenced with the launch of Hartland Greens, Hartland Estate Quad Homes and Hartland Estates.

Hartland Greens comprises eight floors of residential apartments varying from studios, duplexes to one, two and three bedrooms. Investors will have an option to choose from park, pool or boulevard view apartments. With impeccable interiors and lush exteriors, the project flourishes in modernity and serenity. Completion of phase 1 is expected by December 2017.

Hartland Estate Quad Homes will be spread across three floors with focus on lavish space and privacy and each unit will be of 3,300 square feet. The Townhouses are set in the most scenic views and marvelous settings with colorful gardens and lush parks. Investors will have an option of either choosing the surrounding greenery of a corner unit or the intimacy of a middle unit. Completion of phase 1 is expected by December 2018.

Hartland Estates is an exquisite freehold community with a range of ultra-contemporary villas. The L-shaped Sobha Hartland villas offer unmatched privacy and comes with four, five and six bedrooms with ample amount of space. With the addition of a courtyard, backyard and designated swimming pool, residents will have ample space to un-wind in their own home while connecting to the surrounding nature of the development. Completion of phase 1 is expected by December 2018.

Speaking on this, Mr. PNC Menon, Founder & Chairman, Sobha Group says, “Dubai in the United Arab Emirates (UAE) is one of the most popular destinations for Pakistanis, not just for vacationing and shopping, but for the overall aspirational lifestyle it offers. Over the years, Dubai has also emerged as a strong business hub offering various investment incentives and tax-free policies. To top it, the number of Dubai expatriate residents exceed 2 million, which forms a formidable part of the workface here. All these factors, coupled with the fact that Dubai is just few hours away by air from Pakistan, makes it easy to understand why Pakistanis are flocking to Dubai to invest in property. With the foreign real estate investments to the tune of AED 3 billion in the first half of 2016 coming in from Pakistan, the Dubai property market continues to be the preferred investment destination for Pakistani nationals. Dubai has always been under the spotlight for Pakistanis looking to invest in global property markets.”

“Dubai offers a range of exciting projects that caters to every need and fancy of the investors. Sobha Hartland, surrounded by 2.4 million square feet of greenery and set along the Dubai Water Canal, enjoys the unique advantage of prime location backed by over 40 years of expertise. With Hartland Greens, Waterfront villas, and Hartland Estates Quad Homes, Sobha Group continues to set a benchmark in offering world-class bespoke living experience.