Sobha set for Downtown Jebel Ali project launch
Dubai, September 17, 2008
Sobha Group is gearing up for the launch of its fourth commercial project in Dubai, at Downtown Jebel Ali, planned by Dubai based master developer, Limitless.
“Downtown Jebel Ali is one of the most ambitious developments taking shape in Dubai at present, and represents ‘Future Dubai’, with its close proximity to the new Al Maktoum International airport and the largest man-made sea port at Jebel Ali,' said Ajay Rajendran, vice chairman, Sobha Group.
'With Sobha having developments already taking shape in Business Bay and Jumeirah Village, we felt it was important for us to have a presence in this landmark development, as part of our growing Dubai portfolio,” he observed.
Located near Dubai’s main artery Sheikh Zayed Road, and with close proximity to the Metro, the new Sobha commercial development at Downtown Jebel Ali will offer over 110 offices, 280 car parking spaces, retail and food and beverage units, in an iconic 9 -storey tower.
The Downtown Jebel Ali development will be unveiled by Sobha shortly, with construction slated to start by the end of the year.
Downtown Jebel Ali is a 200-hectare, mixed-use urban community along an 11 kilometre stretch of Sheikh Zayed Road. It will accommodate more than 200,000 people in four distinctive zones.
Each Zone will have three individual districts: The Urban Centre, The Trellis and The Medina, creating a blend of business, residential, shopping, dining and entertainment facilities, as well as its own iconic, individually-themed Plaza, which will be the transport, retail and entertainment hub of the zone.
Downtown Jebel Ali, located between the Jebel Ali Free Zone and Techno Park, will have 330 buildings, of which 208 are residential.
Around one hectare in five will be green, open space and there will be pedestrianised, car-free areas, Rajendran explained.
The Downtown Jebel Ali development is another jewel in Sobha’s Dubai Portfolio, he added.
Sobha Group launched its first two Business Bay developments in 2006-07. Sobha Ivory I and II sold out within months of their launch. Now under construction, the mirror image developments are set to bring another landmark development to Dubai’s skyline.
Sobha Group launched Sobha Sapphire, its third commercial development at Business Bay, in January earlier this year.
Its first residential project 'Sobha Daffodil' at Jumeirah Village had received tremendous market response and was sold out within three months of its launch.
Both projects, Sobha Sapphire and Sobha Daffodil, have commenced construction and are on track.
The Sobha Group expects to announce a local portfolio of over Dh7.5 billion ($2.04 billion) by the end of 2008 which will include a range of commercial and residential properties at premium locations in Dubai.
Apart from the Real Estate segment, the Group also intends to enter the Hospitality sector by coming out with its brand of Sobha Hotels in the next 3 years time.
This will further strengthen its presence in the UAE, Oman and India while heralding its entry into new markets like Africa and South East Asia.-TradeArabia News Service