Umm Al Quwain is prepared to dive headfirst into the Northern Emirates’ real estate boom, which has already turned Ras Al Khaimah and Sharjah into freehold real estate hotspots. In addition, Umm Al Quwain is aiming for an island location to solidify its reputation as a place to invest in real estate.
At this point, the “Sobha Siniya Island” appears. Phase 1 of the development, which is a joint venture between Sobha Realty and Umm Al Quwain Properties, spans a sizable 17 million square feet. With prices firmly in the luxury bracket, the first batch of residences has been released. (The other significant developer with a UAQ project situated in Dubai is Emaar.)
Francis Alfred, Managing Director of Sobha Realty, stated that the pricing of the houses had to be commensurate with the offshore location of Sobha Siniya Island and the promise of expansive waterfront lifestyle. Indeed, UAQ is still a relatively young area for freehold investments, but the construction will make up for that.
In addition, we are discussing getting to Sobha Siniya Island from Dubai Airport in 45–60 minutes, which is a unique offer as well.
One of the main reasons there are so many people interested in the off-plan launches taking place in these emirates is that both foreign and UAE-based investors are looking to invest in second or more home properties.
UAQ is now vying for that attention as well. While villas range in price from Dh10.5 million to over Dh30 million, Sobha has set apartment rates starting at Dh1.15 million.
Although work on the Siniya Island masterplan is still ongoing, a bridge that connects the UAE mainland to the island has already been built, which will facilitate building and, of course, make connectivity easier for future residents.
Phase 1 delivery is scheduled for December 2027, according to Sobha. The 7,000 residences, two hotels, and a shopping centre will occupy just 40% of the land that is available for real estate, Alfred stated. Green spaces will occupy the majority of the site.
Low-density development is a key component of the goal.
The UAQ land bank was purchased by Sobha in 2016–17, but it was kept in reserve until 2022, when the UAE real estate boom really got off. Individual Northern Emirates are now in a position to join this trend.
According to real estate specialists, Sobha is offering investors the prospect of a low-density residential area, complete with all the luxuries of an island, by determining the rates. There will be a marina with plenty of berthing and a golf course. (After the master plan is completed, those specifications will be drawn out.)
Developers like Sobha in UAQ and Aldar in RAK are going for luxury offerings and – most important – with a defined number of overall homes in it, said a real estate agent. “This is what high networth investors want to have, especially those making their second home purchases or weekend getaways.”
That’s for the future to decide, Alfred said in reference to implementing Phase 2 at Sobha Siniya Island. By December 2027, we hope to have completed Phase 1.
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