Sobha Is Latest Developer to Throw Hat into Dubai JLT Ring

Sobha Realty is the latest developer to throw its hat into the ring at Jumeirah Lakes Towers (JLT) in Dubai, with the announcement it signed a deal with Dubai Multi Commodities Centre (DMCC) — the largest free trade zone in the U.A.E. — to build 59-story luxury residential tower Verde by Sobha, Construction Week Middle East reported in February. Sobha’s first JLT project, the property will feature seven podiums and units in a range of sizes starting at US$544,416. Amenities will include swimming pools, barbecue areas, a gym and ground-level retail. Completion is anticipated in the 4th Quarter 2026. “Sobha has been one of the most iconic premium real estate developers in Dubai for decades, with over US$1 billion in sales last year,” DMCC Executive Chairman and CEO Ahmed Bin Sulayem said. “[It] has fashioned an undisputed reputation for luxury living in some of the most in-demand locations.”