Dubai based real estate developer, Sobha Realty, has announced that it opened its first sales office in Shanghai.
The expansion into China comes on the heels of a record 200 percent increase in Chinese investments in the first two months of 2019 in its iconic Sobha Hartland project. According to the company, Chinese investor have shown keen interest in both product offerings within Sobha Hartland.
Jyotsna Hegde, president of Sobha Realty, said, “The UAE and China enjoy strong trade, tourism and cultural ties, which was further strengthened following the visit of Chinese President Xi Jinping in July 2018. China is a strategic growth market for Sobha, and we believe our sales office in Shanghai will provide a major fillip to Chinese investments in our projects.”
“Dubai is a dynamic real estate market that consistently attracts global investments, and we estimate that Chinese investments in Sobha projects to touch AED600 million by the end of 2019. This comes on the back of surging demand for luxury real estate projects in Dubai in the run-up to Expo 2020, coupled with the government’s investor-friendly regulations,” she added.
Source: Arabian Business
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