Dubai-based real estate developer Sobha Realty said on Monday that despite COVID-19-related challenges, the company is on track to meet its 2020 delivery schedule for projects within the Sobha Hartland master development in Mohammed Bin Rashid Al Maktoum City.

The company said in a press statement that Gardenia Villas Phase II is complete and in the process of handover while Hartland Greens Phase III (Buildings 5 and 6) is 90 percent complete and would be delivered this year.

Construction across other projects within the freehold master development, including Creek Vistas 1, One Park Avenue, Creek Vistas Reservé and Forest Villas, is also advancing as planned, the statement said

Sobha Hartland's construction has reached 25 percent completion with 2,000 residential units under construction while the master development's infrastructure is 90 percent complete, according to the press statement.

Sobha Realty has also put in place measures to ensure the well-being and safety of its staff and maintain seamless construction activity, the statement noted.

"We are confident that as a natural outcome of the multiple customer-focused initiatives and proactive measures the UAE government has implemented, the real estate market in Dubai will remain an attractive one for local and international buyers," said Francis Alfred, Managing Director and CEO of Sobha Realty.

"As real estate developers, we need to focus on re-imagining the next normal and put in place strategies that are aligned with the UAE's vision for economic recovery," he said.

Launched in 2014, the eight million square feet master development consists of upscale apartments, premium villas and high-end townhouses and is set for completion in 2025.

(Writing by Madhura Deulgaonkar; Editing by Anoop Menon)

(anoop.menon@refinitiv.com)

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