Sobha Realty partners with DMCC to launch first project in JLT

Sobha Realty partners with DMCC to launch first project in JLT

- Verde by Sobha is estimated to generate sales revenue of AED 1.6 billion once completed

Dubai: Sobha Realty, the UAE’s leading luxury real estate developer, has signed a major deal with DMCC, the world’s flagship free zone and Government of Dubai Authority on commodities trade and enterprise, to develop its first project in the Jumeirah Lakes Towers (JLT) district – Verde by Sobha.

The joint agreement was signed by Francis Alfred, Managing Director of Sobha Group, and Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer of DMCC.

Verde by Sobha will bring an architectural marvel to the heart of JLT, further complementing the district’s luxury residential offering. Utilising Sobha Realty’s experience and design capabilities, the project is expected to exhibit Sobha Realty’s signature style and sophistication. Verde by Sobha will also benefit from the company’s unique ‘Backward Integration’ model which leverages the full suite of Sobha’s in-house talent from design to development.

The new luxury development comprises seven podiums and 58 floors and will offer a range of units from one- to- three-bedroom apartments, starting from AED 2 million. The project also houses special amenities, including BBQ spaces, relaxation facilities, swimming pools, multipurpose halls, a gym at the podium levels, as well