Dubai-based developer Sobha Realty announced on Wednesday the launch of Waves residential tower in Sobha Hartland, the eight million square feet freehold master development in Dubai's Mohammed Bin Rashid Al Maktoum City. 

The 592-unit, 35-storey project is scheduled for completion in September 2023, company officials said at a press conference. 

As the first project of The Waterfront District, the project will also include 12 retail units, they said. 

The Waves announcement comes after last week’s launch of Phase III of Tranquility plots, which comprise 19 plots for customised villa development.  

Waves will be developed at an investment of 750 million UAE dirhams ($204 million), local Arabic language newspaper Al Khaleej said on Wednesday.

In a related press statement, PNC Menon, Founder and Chairman of Sobha Group, said the launch of Waves is “an endorsement of the continued health of the real estate sector and reflection of the robust investor confidence in our brand and the immense potential for investments in Dubai.” 

Jyotsna Hegde, President of Sobha Realty, added: “Following the phenomenal success of Creek Vistas and Creek Vistas Reserve, the Waves tower is an iconic addition to the Sobha Hartland portfolio and will see the introduction of the Waterfront District within the master development. With its unique residential offerings, coupled with unmatched views of the waterfront promenade that includes a boardwalk corridor which will house retail spaces and a dynamic piazza with F&B attractions, this tower will become a destination onto itself and serve as a magnet for residents in the coming years.”   

The eight million square feet Sobha Hartland is expected to be completed in 2025. 

(Writing by Madhura N; Editing by Anoop Menon) 

(anoop.menon@refinitiv.com) 

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