Sobha Realty, the UAE’s leading luxury real estate developer, said it 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.

"Utilising Sobha Realty’s experience and design capabilities, the project is expected to exhibit its signature style and sophisticatioVerde 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," he noted.

Welcoming the project, Bin Sulayem said: "Sobha has been one of the most iconic premium real estate developers in Dubai for decades, with over $1 billion in sales last year, and has fashioned an undisputed reputation for luxury living in some of the most in-demand locations."

"Since its inception, JLT has grown organically to become one of the leading communities in Dubai, offering a place for businesses to access the world’s fastest-growing markets, and of course, a thriving home for thousands of people. We are proud to mark the latest expansion of JLT’s offering through this landmark project with Sobha Realty, bringing another luxury residential development to the district," he stated.

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.

"We are committed to offering the highest standards of lifestyle to our customers and have been making significant efforts to raise the benchmarks of the real estate segment in the emirate," stated Alfred.

"Dubai’s real estate market has been witnessing an upward trajectory and we expect further growth in the coming years," he added.

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