Page 34 - SOBHA REALTY PR REPORT NOVEMBER 2023

11/23/23, 10:45 AM Dubai Realty: thriving on new opportunities

On the outlook of the real estate sector and how Sobha Realty has positioned itself in this dynamic
market, Menon said the phenomenal growth of the sector could be attributed to factors like economic
stability, infrastructure development, and a cosmopolitan lifestyle. “Sobha Realty has positioned itself
by consistently delivering on its promises, creating iconic developments that resonate with the
aspirations of our diverse clientele. To sum up, the outlook for the realty sector is very promising.

What Dubai did in the last three years is unimaginable. Because they wanted more people to come
and live in Dubai.”

“If we look at the whole world today, there are only two places that are safe to stay. First is Dubai, and
second is Singapore. The crime rates are really low in these places and above all, the women are

very safe here. I think the kind of assurance that’s been given by the leaders themselves to make this
probably one of the best places on earth in terms of safety is remarkable,” said Menon.

The luxury segment of Dubai’s real estate market has made spectacular progress in attracting a lot of
millionaires, centi-millionaires, and billionaires. Albeit known for its prominence in the luxury segment,
Menon said Sobha’s projects can be classified as mid to high-range. “But we are not in the low

segment as we produce everything of very high quality. Over the years, we have enhanced our
capabilities to attain the current reputation we have. I embarked on my journey in this industry at the
age of 21, and now I have acquired 54 years of experience in this sector. Still, I’m learning new things

every day. We started our business in India and later on we expanded to Oman. The exceptional
progress we made is especially due to our uncompromising attitude. We have achieved several
milestones in these years, one of our major achievements is that our backward integration approach
is a case study in Harvard University.”

“Perhaps, we are the only company in the whole world that follows a backward integration approach

in the design, construction, and manufacturing stages of a project. We have got 250 architects and
around 84 interior designers to support us. We currently have a workforce of about 14,000, which will
reach 24,000 by next year,” said Menon.

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