Page 91 - SOBHA REALTY PR REPORT - MARCH 2024 (ENGLISH)

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.

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.

https://www.traveldailynews.com/real-estate/sobha-realty-achieves-all-time-high-sales-in-2023-
with-record-bookings-of-aed-15-5bn/