Page 165 - SOBHA REALTY PR REPORT - SEPTEMBER 2024

9/13/24, 1:24 PM Latest News
This announcement follows recent upgrades from leading credit rating agencies. Standard & Poor’s has
upgraded our rating from BB-/Positive to BB/Stable, while Moody’s has upgraded our sukuk rating from

Ba3/stable to Ba2/stable. These upgrades reflect our strong financial results, including substantial EBITDA
growth, a larger revenue backlog, and improved EBITDA margins.

Sobha Realty is confident this strategic move will further fortify its financial position and reinforce trust with its
stakeholders.

About Sobha Realty

Sobha Realty is an international luxury developer committed to redefining the art of living through sustainable
communities. Established in 1976 as an interior decoration firm in Oman by PNC Menon – a visionary
entrepreneur – the company has grown its presence with developments and investments in the UAE, Oman,

and India. For nearly five decades, Sobha Realty has been redefining the real estate value chain through
‘Backward Integration’ by leveraging its inherent in-house capabilities of conceptualisation, design, and

development. Today, the firm has developed into one of the most prominent and premium real estate
developers in the UAE and aims to become a global real estate developer with its essence, the ‘Art of the
Detail,’ remaining deeply embedded in the organisation’s DNA. With a proven track record of delivering

projects ahead of schedule, the company has eleven masterplans across the UAE and is continually
expanding its presence in the city with a number of other prominent projects. The flagship community of

Sobha Realty (Sobha Hartland) is a thriving community that is home to over 11,000 residents.
Sobha Siniya Island, Sobha Realty's masterplan and it’s very first-ever luxury island project, features luxury

villas, mansions, and resorts in a serene island setting.
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