Feb 2020 Cover Story – ‘Personifying Excellence’, Jyotsna Hegde – President of Sobha Realty
Headquartered in Dubai, arguably the luxury capital of the new world, Sobha Realty brings an exquisite and rare collection of coveted real estate at the most sought-after locations in the world.
One of the leaders tasked in ensuring Sobha maintains its high standard is Jyotsna Hegde, President of Sobha Realty, who has 16 years of experience and operational expertise in change management, strategic sales, business development and international development of the brand.
“I began my career with Sobha India, spearheading several key initiatives in senior management positions across various verticals,” said Jyotsna.
Over her career she has worked under the leadership of the Founder and Chairman, PNC Menon, whom she highly regards for his leadership and mentorship.
“At Sobha Group, we are blessed to look up to such a visionary leader who inspires us to continue to explore new heights and opportunities and leads by good virtue and passion towards his business. I will forever be grateful for the opportunity that our Chairman has provided me to excel in my career and share the same ambition to achieve perfection by not only aligning with the market needs but also respond to the intuitive needs of our customers,” said Jyotsna
“Our goal is to set the benchmark for the world’s finest real estate and redefine the art of living through our unique intuitive design philosophy that is geared to delivering thriving and sustainable communities.”
At Sobha Realty there is a continued reinforcement to position themselves as one of the most trusted and respected real estate organization both regionally and globally.
“By pioneering innovative global projects and transforming perceptions of quality, we work to challenge the existing standards to ultimately enrich communities,” said Jyotsna
2019 has been an overall good year for Sobha Realty. In September 2019, the company reported sales of over AED1bn and has reached its sales target for the year with AED2bn for its mega Sobha Hartland project.
During the course of the year, Sobha Realty sold 1491 units, comprising a net area of 1.23 million sq. ft., with Sobha Creek Vistas emerging among the most popular projects within the development, followed by Hartland Greens and Hartland Estate villas. The year to date results mark a 165 per cent increase in sales value over the same period in 2018.
Among the top investors, Chinese represented 36 percent, Emiratis 17.11 percent, Saudis 9.75 percent, and Indian buyers made up 8.35 percent.
“The consistent and significant sales that Sobha Realty accomplished during the year reinforce the success of Sobha Hartland as a concept. Each of the projects has been developed to embody our intuitive design philosophy and our commitment to creating sustainable living communities. The high uptake from investors across the portfolio has also supported the launch of more projects within the masterplan and consolidates Dubai’s position as a popular global real estate market,” said Jyotsna.
Inspiring lifestyle, comfort and luxury living in every detail, Sobha Hartland is an 8 million sq. ft waterfront community of luxurious apartments, beautiful villas, and high-end garden houses. Presenting, luxury homes that come with expanses of lush green spaces, world-class amenities and a slew of mouth-watering eateries, retail centres, and entertainment facilities. Experience the new definition of luxury with Sobha Hartland. Dwell in Dubai’s only freehold community, situated in the iconic Mohammed Bin Rashid Al Maktoum City, minutes away from the Burj Khalifa.
“Within Sobha Hartland, we launched two new projects; One Park Avenue earlier in March 2019 and Creek Vista Reservè in September 2019, both the projects have seen great responses from interested buyers,” Jyotsna added.
With this being the flagship project for Sobha, Jyotsna points out why the project is unique and how it encapsulates the vision of Chairman of Sobha, PNC Menon.
“Passionate to the point of being obsessive about perfection, Sobha Realty is born out of the vision of PNC Menon, whose legacy of building the finest palaces and homes in the region over the last four decades is legendary.
Sobha Hartland is no different and is a product of insightful planning adhering to what consumers are looking for today.”
To achieve such high quality and perfection the company chooses to do everything in-house which will not waiver on the quality of the product they put out.
“We are a backward integrated company and choose to do everything in-house to maintain the promise of Sobha’s quality and craftsmanship. Whichever market we choose to expand in, we will be involved in all aspects of delivering the project and maintaining the standards we are renowned for,” said Jyotsna.
“Given that mixed used developments are a trend now, we offer a complete experience to our residents and allow for easy accessibility, something that everyone prefers. Within the development of Sobha Hartland we have a vast portfolio of projects that appeal to all categories of buyers. The range starts from studio apartments and goes all the way up to 6-bedroom luxury villas.”
The residential buildings at Sobha Hartiand are all focused on placing the comfort and well-being of resident’s first. For example, measures such as noise protection, spatial flexibility and indoor air quality account for a major share of the company’s planning and implementation efforts. Even so, along with low running costs and value stability, it is the quality of accommodation itself which plays a central role for our buildings
On the sustainability front, Sobha Hartland is unique in the sense that it is the only master-planned community with over 30% land value dedicated to green open spaces. Within Sobha Hartland, specifically in the Forest Villas community, over 300 species of trees and plants are being planted by Sobha Realty to surround the homes, including ghaf trees which will be planted in the open space and park areas
Reports for luxury property sales in 2019 have been very positive. According to a recent report by Property finder The Dubai luxury housing market, which includes any property above $2.7 million (AED10m), registered 194 transactions in H1 2019, up from 115 transactions for the same period last year.
“There is an optimistic sentiment and a positive trend being witnessed across the real estate market in UAE. Through the launch of legislative reforms and initiatives, it has created a conducive global real estate investment hub and increased interest in the market. Dubai’s real estate market offers stability, peace of mind, security and safety to both residents and visitors alike, thus encouraging investment” said Jyotsna.
Known for its differentiated offerings, the market ranges from studios to mega mansions, thus providing buyers with a multitude of options to choose from basis their preferences. Even with the market’s diversity, Dubai has created a niche for itself in the luxury property offering, and its name has become synonymous with quality, design, and innovation
“With the market becoming more buyer/investor -friendly, rapidly gaining a reputation for being an accessible market that can generate strong returns for investors, more and more people are headed towards the luxury trend, actively seeking for added value and quality, as well as the ultimate living experience,” Jyotsna added.
In terms of expansion, timing is everything due to the dynamics of the industry changing rapidly.
“Expansion is always part of the plan as with any other international organization. USA and UK are very lucrative markets for Sobha Realty because of its transparent policies and the growing real estate industry. However, we have prioritized our targets and should be able to reach them in the next two years,” said Jyotsna.
“Our priority in the UAE at the moment is Sobha Hartland and all the projects within the development. The plan is to focus all our energy and resources towards the successful delivery of various projects within Sobha Hartland.”
Focus on Sustainability
Over the past two decades, the emergence of sustainable building practices has led to an evolution in the curation of the built environment. Sustainable development and green building practices are now more popular than ever.
The vision for most projects begins with the developer. It is this vision that architects and engineers execute. It is during the design process that architects and engineers have the opportunity to show the pros and cons of certain green building elements. Ultimately, it is the developer who makes the final decision as to the direction of the project and whether to establish a sustainable building philosophy as part of the overall concept of a project.
Sobha Hartland also boasts eco-friendly features within its buildings from natural stone cladding to recycled rubber insulation, water saving plumbing fixtures and solar water heating systems
The environmentally-friendly features offer user optimized comfort and a superior quality of life, making Sobha Hartland a truly large-scale sustainable urban district.
Leveraging a luxury developer’s approach towards promoting a sustainable and efficient lifestyle, Sobha Realty demonstrates an outstanding commitment to meeting high sustainability standards across its projects and implementing Dubai Municipality’s green building regulations.