Dubai developer Sobha Realty has launched a Dh50 billion ($13.6 billion) development in the emirate, its biggest yet, as it banks on population growth to continue driving demand.
The 37.5 million square feet project, will be a mixed-use project with about 20,000 homes along with a hospital, two schools, a mall, as well as lifestyle and retail elements.
“Dubai still has good demand for good quality product and the population growth has been sustaining for last few decades … It's unbelievable that a city can sustain a population growth at this level, year on year,” Francis Alfred, the managing director of Sobha Realty, told The National.
Strong governance and good infrastructure are the factors prompting this growth, he added.
Francis Alfred, managing director of Sobha Realty at the launc
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