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The real estate project is part of a portfolio expansion strategy aimed at boosting the group’s realty investment value to over Dh2.5 billion by 2027
July 23, 2024 | Staff Reporter | UAE | Developers
The Condor Developers, a Dubai-based luxury real estate developer, has announced the launch of its fourth residential project – Condor Sonate Residences – in Jumeirah Village Triangle (JVT) as part of a portfolio expansion strategy aimed at boosting the group’s realty investment value to over Dh2.5 billion by 2027.
Condor Sonate Residences, spread over 396,764 sq ft, will add 213 premium apartments comprising studios, one, two and three bedrooms to Dubai’s prime residential real estate inventory. The four-decade old property developer said the latest residential landmark and three more upcoming developments to be unveiled before the end of this year will help position it as a developer of choice for high-end investors looking for super luxury residences. The three upcoming projects are in Dubai’s prime residential districts, including the Dubai Island, Al Majan and Dubai Sports City.
“Condor Sonate Residences comes with first-of its-kind wellness amenities and is created as a development where luxury meets serenity in the much sought-after JVT community. Investing in JVT offers a guaranteed higher RoI with home values projected to rise on the back of an influx of overseas investors and major developments in the pipeline, including the upcoming metro station by 2030,” said Vidhyadharan Sivaprasad, Chairman and CEO of Condor Developers.
He said JVT already enjoys a reputation as a value-for-money investment destination in Dubai’s residential and commercial realty space thanks to its central location, excellent connectivity to all key nodes of Dubai, superb infrastructure and community amenities.
Investing in JVT offers a guaranteed higher RoI with home values projected to rise on the back of an influx of overseas investors and major developments in the pipeline, including the upcoming metro station by 2030.
Vidhyadharan Sivaprasad, Chairman and CEO of Condor Developers
Condor Sonate Residences will offer 48 studios with an average area of 480 sq. ft, 134 one-beds with an average area of 866 sq. ft, 28 two-beds with an average area of 1,333 sq. ft, and 3 three-beds with an average area of 2,040 sq. ft. Prices will start from AED 721k. The launch of Sonate Residences comes as Condor’s two residential projects in Jumeirah Village Circle (JVC) – Condor Castle and Condor Concept 7 – continue to receive overwhelming response from investors. Condor’s showpiece project in Dubai Marina, Condor Marina Star, is almost sold-out.
Condor Sonate Residences will have 31 floors, excluding five podiums and a roof. There will also be more than 3,220 sq. ft of retail area as well as a leisure and recreation area of 18,500 square feet featuring open cabanas, sun loungers and green jogging pathways. “For homebuyers and investors, Condor Developer’s has been offering an affordable but luxury asset class across residential and commercial properties, ensuring superior RoI and valuations in Dubai’s buoyant property market, and as a celebration of the ground breaking we are offering 4 % DLD waiver on all units,” said Sivaprasad.
Condor Sonate Residences will further enhance the JVT community’s appeal to “global and regional investors thronging to Dubai, allured by its vibrant charm, super infrastructure and thriving investment ecosystem and growth prospects, Sivaprasad added.
