According to its chief executive, Sunrise Capital, an up-and-coming developer in Dubai, has a huge pipeline of luxury villa and apartment projects that it hopes to develop throughout the United Arab Emirates.
The company, promoted by an Indian-origin group, is also preparing to launch its maiden mixed residential and commercial project in October – an AED400 million project in Dubai’s Wasl Gate area.
Luxury and craftsmanship in Dubai real estate
“Currently, we are focused on Dubai, but we are certainly looking into UAE expansion and beyond,” Yogesh Bulchandani, Founder of Sunrise Capital, told Arabian Business.
“We would keep expanding on our current investment strategy of having few luxury villas and projects,” he said.
The Sunrise Capital founder, however, needed to spell out details of investments for the proposed expansions.
Bulchandani also revealed the company’s plans to develop a luxury commercial tower.
Presently, the developer oversees projects worth over AED 120 million. Two of these, a super luxury villa estimated to be worth AED 65 million and one estimated to cost AED 70 million, are scheduled for completion by October and June, respectively.
Bulchandani said that both projects are progressing smoothly and embodying the highest standards of luxury and craftsmanship.
Sunrise to diversify into other sectors beyond real estate
According to the founder of Sunrise Capital, the business would invest steadily and strategically to uphold its reputation for dependability and quality.
“For the next five years, our focus will be real estate. We want to make Sunrise Capital the top name in the industry,” he said.
Bulchandani stated that the business will enter new markets after solidifying its field placement.
However, he did not specify the sectors the company plans to diversify into.
Bulchandani said that though the company’s focus will be on the residential sector, it will also launch projects in the commercial sector.
“We will invest in all residential properties, including villas and commercial. But [in the future] our portfolio will be quite diversified,” he said.
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Open to partnerships for faster growth
According to Bulchandani, the company would give forming alliances careful thought to help it become a dominant force in the real estate market.
“We are always open to exploring strategic partnerships that align with our vision and goals, as collaborations can be a powerful way to drive growth and innovation in the real estate sector,” he said.
The Sunrise Capital founder said the company is currently assessing some partnership opportunities.
“It would be premature to discuss any specific partnerships right now.”
According to Bulchandani, the company’s decision to launch an aggressive expansion plan throughout the United Arab Emirates and beyond was made in response to its assessment that the real estate markets in Dubai and the rest of the UAE will continue to show signs of resilience and appeal due to a growing number of high-end projects, strategic investments, and robust demand.
“The market outlook indicates a balance between supply demand and regulatory policies – creating a sustainable environment with promising opportunities.
“I anticipate that property prices will continue to rise, especially over the next six months, largely driven by the current surge in off-plan investments,” Bulchandani said.
The Sunrise Capital founder said: “As we sit in 2024, everything looks on track to achieve the ambitious goals of the Dubai Economic Agenda D33, which aims to double the city’s economic growth and position it among the world’s top three urban economies by 2033.
“This is all very encouraging for those in the property sector.”
Bulchandani said the company has yet to make plans to launch real estate projects in India shortly.
