Sobha Realty to Develop Its First Project In Jumeirah Lakes Towers District

Sobha Realty, the UAE’s luxury real estate developer, has signed a major deal with DMCC, the flagship free zone and commodities trade and enterprise authority of Dubai, to develop its first project - Verde by Sobha - in the Jumeirah Lakes Towers (JLT) district. A 59-storey luxury tower, Verde by Sobha comprises seven podiums that offers a range of units from one- to- three-bedroom apartments, with prices starting at AED2 million ($544,416) onwards.

The project also houses special amenities, including BBQ spaces, relaxation facilities, swimming pools, multipurpose halls, a gym at the podium levels, as well as F&B and retail offerings at the ground level, stated the developer. According to Sobha Realty, the project is scheduled for completion by Q4 2026 and is estimated to generate a sales revenue of AED1.6 billion ($435 million).

Located at the heart of JLT opposite Cluster H, Verde by Sobha benefits from being located in one of Dubai’s most iconic mixed-use communities. JLT spans over 2 sq km and represents an eclectic neighbourhood that offers a diverse range of leisure, hospitality, F&B and retail amenities.

Verde by Sobha will bring an architectural marvel to the heart of JLT, further complementing the district’s luxury residential offering, remarked Francis Alfred, the Managing Director of Sobha Group, after signing the deal with Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer of DMCC.

The project is located minutes away from other high-end communities, with expansive views of the Jumeirah Island and Emirates Hills villa communities on one side and the Emirates golf course on the other. Furthermore, the project has direct access to Sheikh Zayed Road and is in proximity of two metro stations.