Page 195 - SOBHA REALTY QUARTERLY PR REPORT - JANUARY-MARCH 2024 (ENGLISH )

3/4/24, 1:16 PM Sobha Realty achieves all-time high sales in 2023 with record bookings of AED 15.5 Billion | propertytime.ae
handed over 1819 units in the last year across 2 of its completed projects, before their due date. In view
of this sales growth, the company has attained a market share of ~10 per cent by value in Dubai during

the year.

Last year, the company also made significant strides in establishing a robust global presence through its

marketing efforts and set out the aspiration to expand its footprint in some key global markets. Sobha

Realty’s consistency in setting new industry standards with each of its projects, including the newly
launched Sobha Hartland-2 and Sobha Seahaven Sky Edition, has resulted in a strong demand from the

consumers.

Last year the company took a strategic initiative to introduce their first corporate brand campaign ‘The

Art Of The Detail’ which showcases the DNA of the organization. As a result, Sobha realty rose up to
nd
become the 2 most recalled brand in Dubai Real Estate in the year, reported in a brand heath research
conducted amongst real estate intenders.

Ravi Menon, Co-Chairman of Sobha Realty, said: “We are delighted to conclude 2023 on a high

note, attaining record-breaking sales and establishing strategic partnerships that will shape the future of
Sobha Realty. The exceptional growth reflects our steadfast commitment to delivering high-quality

properties. As we step into 2024, our focus remains on adapting to evolving market trends and elevating

the quality of our services, further ensuring a continuation of our upward trajectory in the dynamic real
estate landscape and realising our vision to be a global real estate brand.”

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.

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