Sunteck Realty Enters UAE, Reveals Dubai Ultra-Luxury Project Site

Sunteck​‍​‌‍​‍‌​‍​‌‍​‍‌ Realty Ltd has revealed that it is expanding its operations to the UAE market through a newly formed division, Sunteck International, disclosing the location of its first overseas venture—prime 2.5-acre land parcel in Downtown Dubai.

The developer from Mumbai intends to erect two ultra-luxury residential towers in the environmentally the last plot of the Burj Khalifa Community, which is only a few minutes away from The Dubai Mall and Burj Khalifa by foot.

Key Highlights

• Sunteck debuts in UAE with a 2.5-acre plot in Downtown Dubai.
• AED 5 billion ultra-luxury project leads a AED 15 billion expansion plan.
• Branded residences planned beside Burj Khalifa and The Dubai Mall.

The lead project with an approximate gross development value (GDV) of AED 5 billion is a part of Sunteck's larger plan to initiate projects worth more than AED 15 billion in GDV during the coming three years. The undertaking is going to be a joint venture with MAS, the strategic partner. The official sanctioning for the project is at the stage of approval.

Kamal Khetan, chairman, and managing director of Sunteck Realty Ltd, pointed out that Dubai was an ideal place for their international launch because of its good economic fundamentals, investor-friendly atmosphere, excellent connectivity to the rest of the world, and an increasing number of ultra-high-net-worth individuals making their home in the city.

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He also stated that money earned from the very first project will enable the company to grow further in the Middle East region, and Sunteck will be targeting HNWIs who are attracted by Dubai’s lifestyle and growth trajectory.

The firm decided to reveal the land parcel ahead of the typical market launches, thereby stressing the exclusivity and long-term value of the location, in a very different manner from the standard market launches. The pronouncement of the project is of the branded residences type and it is being designed with worldwide partners such as HBA London for interior design and JTP for architectural strategy.