Indian investors top buyers of luxury Dubai project

Investors from India top GCC buyers in one Dubai luxury development. Indian investors in the Sobha Hartland resort-style project, which features a range of one to three-bedroom apartments, make up 33.14% of buyers, followed by 21.5% of GCC nationals says leading international developer, Sobha Group.

The figures come alongside data suggesting that 63% of affluent people from GCC planning to invest in Dubai and Abu Dhabi.

Sobha Hartland features 8million square feet of freehold community in Mohamed bin Rashid Al Maktoum City and features contemporary villas, townhouses, modern mid and high-rise apartments, a clubhouse, two international school, three boutique hotels, premium restaurants, retail, spa, community mall and leisure activities.

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

Sobha Group, which is primarily focused on residential and contractual projects, expects a 20% increase in rental yield on properties on the Dubai Water Canal.

PNC Menon, Founder and Chairman, Sobha Group, says, “With the real estate investments from UAE nationals from across the GCC, Arabs, and foreigners to the tune of AED22billion in 2016, the Dubai property market continues to be the preferred investment destination for all.

“We are upbeat about an imminent market upswing despite an overall slowdown in economy in the Middle East and lower oil price as investors and end users from more than 50 countries continue to record their vote of confidence in Dubai.

“Dubai remains the most sought-after property destination for investors as it offers one of the world’s most attractive returns on their investments.

“Dubai offers a range of exciting projects that caters to every need and fancy of the investors. Sobha Hartland, surrounded by 2.4million 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. Our array of options at Sobha Hartland boast of large, spacious and luxurious homes with unmatched quality which are preferred by most nationalities.”

PNC Menon has just received a Lifetime Business Achievement Award 2017 by Business Deepika. The award was presented by C Raveendranath, Honorable Minister for Education, Government of Kerala at a ceremony at The Marriott, Kochi.

Mr Menon has been recognised for his sustained efforts and valuable contribution to the real estate sector and industrial development. His foresight, vision and passion towards this sector has redefined business processes and set new benchmarks for quality.

JC Sharma, Vice Chairman & Managing Director, says, “It is an exhilarating and gratifying moment for the entire Sobha family that Mr PNC Menon has been honoured with such a prestigious award. This award is a testimony to the unwavering effort and utmost sincerity with which Mr. PNC Menon has made Sobha, a brand synonymous with quality, business ethics, engineering, design excellence and transparency.”

Sobha Group has developments and investments in the UAE, Oman, Qatar, Bahrain, Brunei and India.

It was established in 1976 by a first generation entrepreneur, PNC Menon as an interior decoration firm under the name of Services and Trade Company in Muscat, Oman, the group has grown into one of the most respected names in all the countries in which it has established businesses.

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