Page 160 - SOBHA REALTY QUARTERLY PR REPORT - JANUARY-MARCH 2024 (ENGLISH )

3/5/24, 11:35 AM Sobha Realty achieves all-time high sales in 2023 with record bookings of AED 15.5bln – Bizpreneur Middle East
Sobha Realty achieves all-time high sales in 2023

with record bookings of AED 15.5bln

LATEST NEWS, NEWS March 4, 2024 News

Sobha Realty, a leading real estate developer in the region committed to delivering unrivalled quality
and luxury, concluded the year 2023 with record-breaking sales. The company recorded all-time high
sales of AED 15.5 billion in 2023, demonstrating the surging demand for its luxury properties.
In 2023, the company witnessed a 51 per cent growth in sales across its diverse portfolio of
residential and commercial developments in Dubai. The company attained its sales target of AED 15
billion in 2023 and is aspiring to achieve AED 20 billion in 2024. Sobha Realty’s steadfast
commitment to ensure utmost excellence in design, craftsmanship, quality, and customer
satisfaction, as well as timely delivery of its projects have been key factors for the rising demand for
its properties. The company 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 become the 2nd 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-
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