Nobles Properties has completely sold its AlShahd II project within days of giving existing customers pre-launch access to buy land in the new development. The company had initially planned a public launch one month after the private offering but the unprecedented sellout has made the event unnecessary.
Wael Qasem, Managing Director of Nobles Properties, said that the swift uptake in sales came about because of the trust it enjoys from satisfied customers who had bought property in AlShahd City I. The company’s practice of improving the area around its developments contributed to the demand. Nobles had previously rehabilitated the road network and the service areas leading to AlShahd City I, which enhanced the neighborhood’s overall attractiveness as a residential district. The company has again begun infrastructure works in AlShahd II, continuing its policy of adhering rigorously to international engineering standards.
Qasem credited several factors that facilitated client interest: AlShahd II’s unique location in the AlTuneib district covering 50,000 m2; the project’s ease of access; the interest-free installment plan; and the company’s after sales policy of helping customers complete the transfer and title deed registration process. The strategy continues the successes achieved in the adjacent AlShahd City I which covers 235,000 m2.
Omar Ayesh, the Nobles Group Chairman, indicated buyers would be given an opportunity to invest in similar projects. Commenting on the company’s growth strategy in Jordan, Ayesh stated several ventures were in the pipeline including AlShahd III which will be made available to investors in May 2022. These projects are among several planned for launch in Jordan with a combined value exceeding $100 million dollars in the residential, hospitality, and industrial sectors as part of the group’s vision to build sustainable, environmentally friendly developments with distinctive services.
Nobles Properties is an international real estate developer established in Dubai during 2008. Nobles builds and manages distinctive lifestyle developments including commercial, residential, and mixed-use projects. Omar Ayesh, the company’s founder, built one of the region’s most iconic projects in Dubai, the Princess Tower, which reigned as the tallest residential tower in the world for years. Nobles Properties operates in North America, Turkey, the Middle East, and North Africa. The company’s CSR program includes over a thousand scholarships in 11 countries around the world, in addition to its strategic partnership with local charities and social development programs.