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9/17/24, 11:22 AM Dubai: Sobha Eyes $10B Sales Forays Into Jewellery, Furniture Business
Speaking to Khaleej Times at his office in Sobha Hartland, the legendary developer shared
his aspirations about the group's next transformational journey under Ravi Menon, who is
currently serving as co-chairman of Sobha Realty.
The leadership transition takes place at time when Sobha Realty, known for its signature
residential offerings in Dubai, Muscat and India, is all set to expand footprints across the US
and Australia.
“I will be looking after the group's expansion into jewellery and furniture businesses, with two
new ventures - Sobha Jewels and 'Sobha Furniture - while leveraging our diverse capabilities.
Sobha Group's foray into the furniture business holds great potential and it is expected to hold
a combined value of $10 billion in the future,” said the billionaire entrepreneur, who has
earmarked half of the group's income for philanthropy and social causes,” Menon said.
Joining the conversation, Ravi said he is committed to upholding the legacy and advancing it
further to make it the most preferred brand for customers. He acknowledged that the path
ahead for him as the chairman might not be an easy one.“But we have a robust vision in place
to consolidate our presence in key markets like the USA and Australia. For instance, we
already have a representative laying the groundwork for our expansion in Austin, Texas.
Meanwhile, we are also scaling our business in India, with plans to open a new branch in
Mumbai. We have a factory spanning 50,000 sq. m coming up in Dubai, and a 12,000 sq. m
one planned for Technopark, India. A 9000 sq. m factory will also be developed in Khazad Abu
Dhabi,” Ravi said.
Currently, in Dubai, Sobha's sales value stands at $5 billion from an investment of about $2.7
billion which Menon said“is an immense achievement and in line with our targets.”
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