Page 110 - SOBHA REALTY PR REPORT - 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 - mid-east.info
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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