- The developer has a landbank of 4 million sq. ft. for ultra-luxury and affordable luxury projects
- The recent achievement of the developer mirrors its adherence to core principles upheld by Bhatia Group
- The projects are slated to be launched in the next six months
September 17, 2024: SOL Properties, a leading real estate developer in the UAE and the premier real estate development arm of the Bhatia Group, announced the launch of a series of high-end projects with an anticipated Gross Development Value (GDV) of AED 12 billion in the next six months. These projects are expected to significantly impact the UAE real estate market, setting new standards for luxury and efficiency, while contributing to the country’s overall economic growth.
The ambitious expansion builds on the 50-year legacy that the Bhatia Group has upheld in the UAE, establishing itself as a pioneering force in Dubai’s property development and construction sector, driven by the distinctive vision of Ajay Bhatia, Chairman of Bhatia General Contracting, and Founder and CEO of SOL Properties. The anticipated growth and recent achievements of SOL Properties are a testament to Bhatia Group’s commitment to architectural excellence and creative ingenuity.
SOL Properties has acquired 4 million sq. ft. of prime land for ultra-luxury projects and affordable luxury projects. The ultra-luxury developments include a new esteemed project in the West Crescent of Palm Jumeirah and the prestigious Fairmont Residences Solara Tower Downtown Dubai. Combined, these two projects are valued at AED 8.2 billion.
Moreover, SOL Properties recently completed and handed over the affordable luxury project, Oakley Square Residences in JVC, which has been fully sold. The project’s successful completion underscores the developer’s unwavering commitment to delivering high-quality residences that align with market demand.
The developer’s landbank includes plots across major locations in the country with 2 million sq. ft. in flourishing areas such as Jumeirah Village Circle (JVC), Jumeirah Village Triangle (JVT), along with a 500,000 sq. ft. plot in Abu Kadra. These purchases boost SOL Properties’ potential to build more significant projects in the future and expand their presence in the UAE’s most sought-after locations while meeting the evolving market trends and consumer demands.
Ajay Bhatia said: “At SOL Properties, our real estate development strategies go beyond acquiring prime lands as we seek to develop our own projects, which further underscores our 50-year-long legacy of trust, excellence and integrity under Bhatia Group. Over the years, we have closely witnessed the UAE’s growth and have progressed along with the country by contributing towards its development. Our legacy, which is the hard work of our team of experts over the years, is reflected through our projects developed for both government agencies and private clients. As we strive to exceed the projected GDV and align our objectives with an evolving sector and changing market preferences, we are excited about our forthcoming projects and plans. Through each project, we seek to uphold our longstanding legacy in the industry by adhering to the highest quality and innovative standards, further delivering exceptional value to the country.”
With a portfolio of over 250 transformative projects, Bhatia Group has secured a distinguished position in the industry for its project planning and construction, environmental impact assessment, design and safety management. Through the ultra-luxury projects, investments and land acquisitions of SOL Properties, the Group significantly contributes to the UAE’s thriving economy by creating new opportunities and stimulating related industries such as construction and services.
About Bhatia Group
Established in 1975, Bhatia General Contracting is a pioneering contractor in the UAE. With a robust presence in both public and private sectors, the company has a portfolio of over 250 projects that includes residential and commercial buildings, industrial developments and villas. Over the years, the company has set a distinguished identity for its commitment towards delivering quality construction across projects of diverse sizes. Attributing to its 50 years of experience, the company has been able to successfully develop an enduring relationship with clients, architects and partners that is defined by mutual trust and respect. The company’s steadfast commitment to excellence, safety and integrity is another key factor in its success. Bhatia General Contracting adheres to Corporate Social Responsibility (CSR) and environmental stewardship to position itself as one of the most trusted partners in the UAE’s continuous developmental journey.
About SOL Properties
Founded in 2004 under the patronage of the Bhatia Group, SOL Properties is a distinguished leader in the UAE’s real estate sector, renowned for its luxury property developments. Over the past 20 years, SOL Properties has delivered a number of transformative projects, encompassing exquisite residential developments, iconic commercial spaces, and luxury hotels. The company’s diverse portfolio includes iconic projects across Dubai, such as Ocean House- Palm Jumeirah, Oakley Square, Hillside Villas, SOL Bay, SOL Avenue, Sol Park JVC- premium collection of Town houses, Bloomingdale villas Victory Heights, Fairmont Residences Solara Tower Dubai, and hospitality projects like The Dubai Edition-Downtown Dubai, and Radisson Beach Resort-Palm Jumeirah. SOL Properties’ dedication to innovation and excellence shines through in every project, as they blend creative ingenuity with architectural brilliance to redefine luxury living and working environments. For more information, visit www.solproperties.ae