Page 21 - SOBHA REALTY PR REPORT - MARCH 2024 (ENGLISH)
P. 21

Press Release





                   Sobha Realty achieves all-time high sales in 2023 with record

                                         bookings of AED 15.5 Billion







               Dubai 1 March 2024: Sobha Realty, a leading real estate developer in the region committed
               to delivering unrivalled  quality and luxury, concluded  the  year  2023  with  record-breaking

               sales. The company recorded all-time high sales of AED 15.5 billion in 2023, demonstrating

               the surging demand for its luxury properties.

               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,

                                                    nd
               Sobha realty rose up to become the 2  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
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