Dubai: The Jumeirah Lake Towers is back to generating a lot of new launches, with Sobha Realty being the latest to launch a high-rise, the Verde by Sobha. Apartment prices are at the high-end, at over Dh2 million. The 58-storey structure will be opposite Cluster H.
In the recent past, there have been launches from Ellington and Danube too at JLT, which has been a significant gainer as investor demand spread cross freehold clusters in Dubai. Average transaction value is upwards of Dh2,000 a square foot currently, according to market sources. The location has also been receiving a higher visibility because of the adjoining ‘Uptown Dubai’ development, which will host a soon-to-be-ready skyscraper.
“Dubai’s real estate market has been witnessing an upward trajectory and we expect further growth,” said Francis Alfred, Managing Director of Sobha Realty.
“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,” said Ahmed Bin Sulayem, Executive Chairman and CEO of DMCC, pictured here with Francis Alfred, Managing Director of Sobha Realty.
The Verde is expected to generate Dh1.6 billion in sales revenue for the developer, who has been active with offplan launches in the recent past. This has included luxury high-rises on Shaikh Zayed Road and the Hartland 2.
Project completion is scheduled for Q4-2026.
Current sales demand in Dubai is primarily from offplan sales, a process that’s been helped by major developers keeping the pump ready with more launches.
Overseas investor interest is at the heart of the sustained run up in demand, as the pool of ready homes for sale dries up.
The latest round of projects come with completion timelines of 2025-6.