Page 167 - 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 15.5bln
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-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.

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