Page 161 - 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
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.
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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