Page 187 - SOBHA REALTY QUARTERLY PR REPORT - JANUARY-MARCH 2024 (ENGLISH )

3/4/24, 1:15 PM Sobha Realty achieves all-time high sales in 2023 with record bookings of AED 15.5 Billion | MENAFN.COM
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.

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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