UAE-based SOL Properties will be adding 16 new serviced apartment units across three new buildings in Dubai, as part of its plan to boost the group's dedicated leasing service portfolio, SOL Living.
It is set to invest an additional AED20 million ($5.4 million) as it expands SOL Living, a dedicated leasing service portfolio that offers long- and short-term lease options to meet the evolving needs of Dubai’s residents and visitors.
Following the launch of Phase I of SOL Living, which opened with 48 units in Business Bay’s SOL Avenue, it is set to add these 16 units at SOL Bay in September; thus marking the group’s second property in the Business Bay area, said the Dubai developer.
A licensed vacation rental operator in Dubai, SOL Living, will be the dedicated entity for securing properties within SOL Avenue.
SOL Bay is the latest residential and commercial tower by SOL Properties with direct views of the Burj Khalifa, making it an unparalleled luxury living experience for its residents.
Located in the heart of Business Bay, SOL Bay features expansive apartments that are designed to maximise space, light and views, alongside a fully equipped gymnasium and extensive swimming pool.
"Launching SOL Living was a significant milestone for us as a business, and to expand in such a short space of time is something we are tremendously proud to announce," remarked its founder and CEO Ajay Bhatia.
"We believe that hospitality will remain one of the biggest driving forces for our business, especially as the UAE continues to open up to international travel thanks to the government’s advanced safety protocols and extensive roll-out of its vaccination campaign," stated Bhatia.
Iris Amber is SOL Living’s mixed-use hub in Al Jaddaf, comprising residential, commercial and retail segments that merge the city’s urban lifestyle with the historical Dubai Creek and Waterfront.
"Our aim is to continue diversifying our offering across our landmark footprint in the UAE, providing guests with a unrivalled long- and short-term lease options in the city," he noted.
With a fast-approaching Expo 2020, which is set to host 25 million socially-distant and vaccinated visitors, staying in nearby prime locations will allow both residents and visitors to explore some of Dubai’s most popular destinations.
Short-term lets remain an ideal option for those who will be in the city for longer durations, including the entirety of the highly anticipated event, he added.
According to Bhatia, the group has set an ambitious target for SOL Living, aiming to reach 100 operational units by the end of 2021, and to double this number to 200 operational units by Q4 2022.
"One 5-bedroom villa will be added to SOL Living’s Palm Jumeirah segment, which follows the two additional operational units that have been added to the Iris Amber building, located in the up-and-coming Al Jaddaf area," he added.-TradeArabia News Service
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