Condor Unveils Sonate in JVT with Dh2.5 Billion Investment Plan by 2027

Monday, 5 August 2024

Condor Developers, a leading name in Dubai’s premium real estate market, has launched its latest residential project, Condor Sonate Residences, in the sought-after Jumeirah Village Triangle (JVT). This project marks Condor’s fourth residential development, a strategic move that will expand the company’s real estate investment portfolio to over AED 2.5 billion by 2027.

Strategic Expansion and Market Insights

• Upcoming Projects: By the end of this year, Condor Developers plans to roll out three additional projects. These developments aim to meet the soaring demand in Dubai’s luxury residential sector, which is experiencing unprecedented growth.
• Market Growth: Vidhyadharan Sivaprasad, Chairman and CEO of Condor Developers, forecasts a 24.6% increase in high-net-worth purchasers in Dubai’s real estate market by 2025, pushing the luxury market to new heights.
• Market Performance: The first quarter of 2024 saw Dubai’s residential real estate market hit record highs, fueled by a 55% surge in capital inflows, with 42% coming from international markets. This robust demand is reflected in a 12.2% increase in sales transactions in the first half of 2024 compared to the latter half of 2023.

New Luxury Development in JVT: Condor Sonate Residences

Condor Sonate Residences is set to be a landmark addition to Dubai’s premium real estate market:

• Prime Location: Situated in the highly desirable Jumeirah Village Triangle (JVT), this development offers an ideal blend of luxury and tranquility.
• Floor Space: The project spans a generous 396,764 square feet.
• Luxury Apartments: It will feature 213 opulent apartments, available in studios, one, two, and three-bedroom configurations.
• Investment Opportunity: Condor aims to position Sonate Residences, along with three upcoming developments in Dubai Island, Al Majan, and Dubai Sports City, as top choices for affluent buyers.

Vidhyadharan Sivaprasad highlights the strategic advantage of investing in JVT, stating, “Investing in JVT guarantees higher returns on investment (ROI). Significant developments, such as the planned metro station by 2030 and an increase in foreign investors, will drive up property values.”

Affordable Luxury Living in Dubai

• Competitive Pricing: Condor Sonate Residences offer luxury living with prices starting from AED 721,000.
• Unit Breakdown:
  • 48 studios with an average size of 480 square feet
  • 134 one-bedroom apartments averaging 866 square feet
  • 28 two-bedroom apartments with an average size of 1,333 square feet
  • Three three-bedroom homes each offering 2,040 square feet

Impressive Features and Amenities

Building on the success of its previous projects—Condor Castle and Condor Concept 7 in Jumeirah Village Circle (JVC) and Condor Marina Star in Dubai Marina—Condor Developers sets Sonate Residences apart with:

• Building Structure: 31 storeys, including a rooftop and five podium levels.
• Leisure Area: A sprawling 18,500 square foot recreational space featuring sun loungers, cabanas, and green jogging trails.
• Retail Space: 3,220 square feet of retail space.
• Exclusive Offer: A 4% Dubai Land Department (DLD) waiver on all units to commemorate the groundbreaking.

Attracting Investors to Dubai’s Dynamic Real Estate Market

Sonate Residences will enhance JVT’s appeal to both local and international investors, who are drawn to Dubai’s dynamic charm, state-of-the-art infrastructure, and promising business opportunities. The development offers an array of luxurious amenities, including:

• Rest spaces and an infinity pool
• Outdoor movie theater
• Separate saunas and steam rooms
• Wellness sanctuary and landscaped rooftop
• Fitness center and padel tennis court
• Kid-friendly features like a splash pool and mushroom shower

Condor Developers continues to set the benchmark for luxury real estate in Dubai, delivering high-value properties with excellent ROI for investors.