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Sol Properties set to launch six new projects valued at $3.3 bln in 2025, says Founder and CEO Ajay Bhatia. Despite rising tender prices, Dubai’s real estate market continues to offer strong growth potential, positioning the emirate as a global hub for innovative, sustainable, and high-quality developments, Ajay Bhatia, Founder and CEO, Sol Properties, told Zawya Projects. The developer is gearing up to launch six new projects in 2025, with a combined value of 12 billion UAE dirhams ($3.3 billion), he said. The luxury real estate market saw a 26 percent year-on-year increase in prices last year, with expectations for a further 5-10 percent growth in 2025, largely fuelled by the strength of off-plan market, Bhatia stated. Interview excerpts: What market factors compelled you to launch AED 1 billion worth SOL Levante? The demand for high-quality yet accessible residential developments in Dubai has been steadily increasing, driven by a growing preference for homes that combine affordability with modern amenities, ensuring better living standards. SOL Levante in Jumeirah Village Triangle (JVT) stands out as an example of comfortable, refined living, offering unmatched wellness features and community-focused amenities that set it apart from other developments in its category. Strategic government initiatives and policies have further created a supportive environment for projects that prioritise quality and innovation, making this the perfect moment to launch the project in the market. When did you acquire the land for the project? Are you now seeing an increase in land prices in JVT? We acquired the land for our project in the third quarter of 2024. Over the past few years, JVT has witnessed a consistent rise in land prices, driven by its strategic location, enhanced infrastructure and increasing demand for mixed-use developments. One of the key factors driving this trend is JVT’s unique position, offering a seamless blend of urban convenience and suburban tranquillity, making it highly attractive to both investors and end-users. Its proximity to major highways such as Al Khail Road and Sheikh Mohammed Bin Zayed Road has improved accessibility, further elevating its appeal for residential and commercial projects. As the area continues to develop, we anticipate sustained growth in land values, reinforcing JVT’s status as one of Dubai’s most sought-after communities. Who is the project’s architect? What is your project’s USP in terms of design? The project is designed by XBD Collective, which has a global presence across the UAE, Europe, the UK, Africa, and Asia. |
