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Located within Mohammed Bin Rashid City in Dubai
Sobha Hartland is a mixed-use real estate development that covers about 750,000 sq.m and comprises 3 phases.
The project is master-planned and developed by Sobha Realty, with final completion scheduled for 2025 through its subsidiary, Sobha Properties Ltd.
Owners and investors acquire assets that enjoy an array of amenities such as landscaped walkways, parks and open spaces, swimming pools, tennis courts, a cricket pitch, cafes, hotels, restaurants and shops, schools, spas, and a yoga studio.
The wider Mohammad Bin Rashid City project is located close to the Ras Al Khor nature reserve and Sobha Hartlands takes some inspiration from its neighbour as more than 30% of its area has parks and green landscaped spaces, boasting over 300 species of trees and other plants covering an area of 22 hectares.
As such, the emergent area is developing a strong and favoured reputation with ex-pats, families and investors. More properties are set to be released into the market over the remainder of the build, but investor demand remains strong with each new release commanding asking prices slightly above the previous.
Forecasts predict above-market performance and sustained returns in the short, mid and longer term.
Sobha Hartland's Property Market Performance
Sobha Hartland statistics for completed 2-bedroom properties:
- The average asking sales price in Sobha Hartland in April 2023: 2.1m AED
- The average transaction sales price in Sobha Hartland in April 2023: 1.7m AED
- The average asking sales price in Sobha Hartland in April 2023 per sq.ft: 1,800 AED
- The average transaction sales price in Sobha Hartland in April 2023 per sq.ft: 1,700 AED
With many developments still to be completed, Q1 data from 2022, already showed how popular Sobha Hartland property could be in the future. The data revealed Sobha Hartland was the 12th most popular area for real estate sales in the UAE, with a total of 589 property transactions worth AED 1.17 bn. This is impressive considering some sub-markets in Dubai are almost 25 years older and substantially more mature. Furthermore, at the time, much of the availability was yet to be released.
As mentioned, throughout the off-plan and build period, properties have accumulated capital value and the secondary market is already active. It is noteworthy that much of the entire area is still under construction, and upon completion, the capital value of properties in Sobha Hartland is expected to increase, while higher rents could result in a rise in rental yields.
Average capital appreciation in Sobha Hartland over the past 12 months
- Sobha Hartland overall: 2.1% capital appreciation
- Sobha Hartland 2-bed property: 6.36% capital appreciation
How to choose a property investment in SOBHA HARTLAND
As a vast masterplan development, there’s a wide variety of property available to investors in Sobha Hartland.
The mixed-use development covers 8 million sq.ft and is being constructed in 3 phases. The impressive array of residential options includes:
- Freehold studios, 1, 2 & 3-bedroom apartments
- Duplexes
- Townhouses
- 4, 5, & 6-bedroom villas
As mentioned, the entire community is surrounded by 22 hectares of greenery, which includes over 300 species of plants and trees, accounting for 30% of the entire project. This also naturally offers price-point variety between different plots and phases as some units incorporate better positions and views of the lush landscape.
The older more established property in Sobha Hartland Greens was launched around 2016 and consists of 16 eight-storey apartment buildings and a 14-storey twin-tower apartment complex.
Sohba Hartland also features around 80 townhouses known locally as Quad Homes due to being diagonally adjacent to their neighbours.
It is also worth investors noting that as a mixed-used space, not all the property is developed by Sohba Realty. Some individual plots have been sold to other developers, particularly in the villa market.
As an overview, investors should note the Hartland Estates residential complex presents luxurious 4- and 5-bedroom villas, Gardenia Villas are 2-story 4-bedroom villas featuring a dressing room and servants quarters, a private garden and a terrace, and Forest Villas include 4- and 5-bedroom units located in a gated community. There are also 23 unique Waterfront Villas located next to the Dubai Water Canal, which incorporate a courtyard, a swimming pool, and a terrace.
SOBHA HARTLAND RENTAL MARKET
Sobha Hartland is already home to more than 2,200 families. With a projected 3000 residences set to be sold in the coming 12-month period.
As such, the community is expected to experience a surge in population, with over 6,000 families expected to call it home by 2025.
Its strategic location, near Downtown Dubai, major business hubs, and the Ras Al Khor Wildlife Park, extra space, and high-end lifestyle will ensure that rental properties here will always be in high demand among tourists and locals alike.
Starting rental values for Sobha Hartland property:
- Average rental price for Sobha Hartland properties March 2023: 105,000 AED
- Average gross yield for Sobha Hartland properties March 2023: 5%
SOBHA HARTLAND REAL ESTATE OUTLOOK
Most Dubai properties are predicted to perform well in the short to medium term. Bought by one of the world’s strongest economies and state-backed initiatives to further increase the size of the expat population, real estate in the emirate is expected to outperform most major prime property markets. This is particularly true as most of its global alternatives are much more reliant on the mortgage market – and rising interest rates are already dampening demand.
Sobha Hartlands may be one of the locations to see values rise the most in the long-term too, especially as nearby Mohammed Bin Rashid City grows in size and prominece.
Investors should be wary that Mohammed Bin Rashid City will be the site of much of the new property coming onto the market in the coming years, but the growing demand is set to ensure that absorption remains high.
IS SOBHA HARTLAND GOVERNMENT-OWNED?
No. Sobha Realty is listed on Indian stock exchanges and is one of the most prominent private developers in Dubai. It recently sold out the $380m Tower and announced it expects revenues to increase in 2023.
Currently around three-quarters of its properties are sold to overseas investors.
SOBHA HARTLAND LOCATION AND LIFESTYLE
Like with much of Dubai property investment, it is hard to separate the appeal of Dubai’s lifestyle from the ROI; the lifestyle drives the demand for property and tenancy.
As mentioned, the project offers one of the most senere and green lifestyles in Dubai. Sobha Hartland’s residents also have easy access to the Dubai Metro’s green line, located just across the canal. Additionally, the upcoming purple metro line will run alongside the community and connect to Al Maktoum International Airport in Jebel Ali.
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Developers
DAMAC
SOBHA REALTY
BINGHATTI
AZIZI
DANUBE PROPERTIES
Contacts
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- +971-567 424133
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