Page 173 - SOBHA REALTY QUARTERLY PR REPORT - JANUARY-MARCH 2024 (ENGLISH )

3/4/24, 1:14 PM Sobha Realty achieves all-time high sales in 2023 with record bookings of AED 15.5 Billion
Throughout 2023, Sobha Realty strategically elevated its market position and ensured continued
success by creating worthwhile partnerships. In line with its endeavour to explore new
opportunities beyond the regional real estate landscape, Sobha Realty entered into a significant
venture with IIFA 2023 to cater to the global Indian audiences, as well as marked a multi-year
principal partnership with Arsenal Football Club for a truly global outreach.

Furthermore, PNC Investments, the group’s holding company, garnered credit ratings of
‘BB-‘from S&P Global Ratings and ‘Ba3’ from Moody’s in 2023, underscoring its substantial
financial strength. The developer’s historic USD 300 million Sukuk issuance last year also
demonstrated its capability to attract a wide range of investors from across the globe. Another
notable achievement was the Guiness World Record for creating the ‘largest helmet mosaic
formed by people’ depicting the UAE flag.

During 2023, Sobha Realty witnessed a remarkable journey marked by surging customer
demand, fruitful collaborations, and substantial sales, all of which helped the company attain
significant end-of-year milestones. The success not only reflects the unwavering commitment of
the developer towards excellence, but also sets the stage for a promising future in the burgeoning
realm of luxury real estate in Dubai.

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