Page 490 - SOBHA REALTY QUARTERLY PR REPORT - JANUARY-MARCH 2024 (ENGLISH )

3/1/24, 1:23 PM Sobha Realty awards Dh100 million bonus to staff | Markets – Gulf News
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Dubai: Dubai-based Sobha Realty has awarded a special Dh100 million bonus
programme for all its staff, the company announced on Thursday.

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The bonus was awarded to all employees working on non-incentive programmes,

covering employees across various departments, explained a statement from the

company.

“This move underscores the company’s belief in the collective effort that has played a

pivotal role in Sobha Realty’s success,” it said.

Ravi Menon, Co-chairman of Sobha Realty, said: “We extend our heartfelt

appreciation to the essential pillars of Sobha Realty—the outstanding individuals who

consistently contribute their skills, passion and dedication each day.”

He added, “The special bonus is an expression of our gratitude for the resilience

demonstrated by our employees, particularly in the face of challenging times.”

The bonus, distributed on February 1, 2024, aims to give employees an extra boost as

they enter the new year. “Sobha Realty acknowledges the pivotal role each employee

plays in the company’s growth and success, emphasising its commitment to fostering a
positive and motivating work environment,” it added.

Last year, Sobha Realty successfully issued its debut $300 million 5NC3 Sukuk.

The pricing of the issuance, which includes a call feature, the first of its kind for a GCC

sub-investment grade benchmark-sized Sukuk, marks a significant achievement for

Sobha Realty and the entire industry at large.

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