Page 16 - SOBHA REALTY PR REPORT - AUGUST 2024

FOR IMMEDIATE RELEASE

Sobha Realty elevates Ravi Menon as the Chairman of Sobha Group, PNC Menon to
continue as the Founder

Dubai, UAE – August 26, 2024 – Sobha Realty, a leading real estate developer, renowned for its
quality, innovation, craftmanship and enriched living experiences, is set for a significant leadership
transition. PNC Menon, the visionary Founder and Chairman of Sobha Group, will retire from his active
role as Chairmanship, while continuing as the Founder of Sobha Group. Effective November 18,
2024, Ravi Menon, a distinguished leader with an exceptional track record as Co-
Chairman of Sobha Group, will assume the role of Chairman of the Group.

PNC Menon, the Forbes listed billionaire, began his journey with humble origins in India. His pursuit
of excellence led him to Oman, where he earned the distinguished reputation as 'The Palace Maker,'
a title that ultimately bestowed upon him and his family the honor of Omani citizenship, by the late
His Majesty Sultan Qaboos bin Said.

His journey has been transformative, with his leadership and passion for excellence, establishing the
company as a revered name in the industry. As he passes the baton to the next generation, PNC
Menon will continue to play an influential role, offering his expertise to guide the group’s subsidiaries
and ensure ongoing growth and stability.

Looking back on Sobha Realty’s legacy, the developer’s top priority in business has always been a
steadfast commitment to delivering the highest quality to its customers worldwide.

Reflecting on this transition, PNC Menon, Founder and Chairman of Sobha Group remarked,
"Throughout my tenure as Chairman, I have been inspired by our exceptional team’s dedication and
creativity, which has propelled the company to new heights. I remain committed to supporting Sobha
Realty’s ambitions and am confident that under Ravi Menon and Francis Alfred’s leadership, the
company will enter a new era of progress and innovation."

For over two decades, Ravi Menon, a Civil Engineering graduate with Honors from Purdue University,
USA, has played a pivotal role in Sobha Group’s success. Since joining as a Director at Sobha Limited
in India in June 2004, he has advanced the company’s strategic vision and fostered a culture of
innovation. His promotion to Vice Chairman in January 2006, followed by his appointment as Chairman
of Sobha Limited in India and later as Co-Chairman of Sobha Group in Dubai, stands as a testament
to his visionary leadership and operational excellence.

Expressing his gratitude, Ravi Menon, Co-Chairman of Sobha Group stated, "I am deeply
honored to take on the role of Chairman of Sobha Group. Under PNC Menon’s remarkable leadership,
Sobha Realty has become a leading luxury real estate developer in the region, with promising
expansion plans globally. I am committed to upholding this legacy and advancing it further to make it
the most preferred brand for customers."