Sobha Realty Highlights Sustainability in Recent Development Projects
Luxury real estate developer Sobha Realty is one of the pioneering, backwards-integrated real estate companies, having all of the key competencies and in-house resources to deliver multiple projects concurrently. Established in 1976 by the visionary entrepreneur, PNC Menon, the company has redefined the art of living over the last four decades and grown its presence in UAE, Oman, and India.
“At Sobha Realty, we strive to always deliver a better experience for our customers, be that in terms of our products or our services. Our backward integrated business model allows us to easily adapt our business to become a more dynamic and innovative developer,” it said.
The company hit record sales of over US$2.5b in the past year, releasing more than 4,000 units in the market. For 2023, the sales targets have been set substantially higher. Recently, it has acquired land parcels with over 16 million square footage of gross floor area to maintain its sales momentum. According to the company, it intends to develop the land parcels in a sustainable and environmentally friendly manner, keeping in mind the Dubai Urban Master Plan 2040 and its own plans for a sustainable future.
Deeply ingrained into the firm’s philosophy is sustainability – a value also well-reflected in its projects. As a testament to this, the company has developed and released its in-house ESG report in 2022, aligning with the global principles of the Global Reporting Initiative and the Sustainable Development Goals set by the United Nations. The company also undertook the pledge to support the UAE Government in reaching its net zero targets by 2050. Sobha Realty has also launched the Sobha Modular factory, which is expected to streamline its construction timelines and lead to the delivery of its projects on or before the committed dates.
Sobha Realty also recently developed Waves, a residential development located at the waterfront district of Sobha Hartland, Dubai. It is a 35-storey development boasting a gross floor area of over 470,000 square feet, and a built-up area of approximately 774,000 square feet. It consists of around 592 apartment units and 12 retail units.
The residential tower commenced construction in February 2021 and received the building completion certificate in February 2023. Its façade is a simple play of horizontal and vertical forms that give uninterrupted 360-degree views of the tower. The two acute corners have a vertical emphasis leading the eye to a light-weight floating roof giving a sense of lightness to the tower.
To ensure that the company’s sustainability values are carried throughout the design and construction of Waves, it ensured the energy and cost-effectiveness of the project by using low-flow plumbing fixtures to save water and energy, as well as reduce utility bills. It also used a single-stack drainage system to improve performance compared to a conventional three-stack drainage system.
At the same time, each apartment unit is equipped with provisions for a smart home automation system, which shall be able to regulate lighting, temperature, and curtains, and allow secure video communication with visitors at the building entrance. Units also have provisions for advanced control through smartphones and tablets, as well as through standard wall switches and thermostats.
These feats have been recognised by the Real Estate Asia Awards, as Sobha Realty took home the Developer of the Year – United Arab Emirates category win and its Waves also won the Luxury Residential Development of the Year – United Arab Emirates title. The prestigious awards program mehonours the most innovative real estate developments and laud industry players in Asia Pacific that stand out in the market.