Page 37 - SOBHA REALTY PR REPORT NOVEMBER 2023

11/23/23, 10:45 AM Dubai Realty: Thriving On New Opportunities | MENAFN.COM
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.

PNC Menon, Chairman & Founder of Sobha Realty.- Supplied photo
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.

Looking back at his early days in the real estate sector and the challenges he had faced,

Menon said those experiences instilled resilience and a customer-centric approach in his
group's DNA while shaping its commitment to quality, transparency, and ethical business
practices.

On his group's commitment to quality and innovation, Menon said it is exemplified in projects

like Sobha Hartland, a waterfront community that blends luxury with nature. Innovations like
an in-house precast factory showcase the group's dedication to pushing boundaries and

delivering projects of unparalleled quality.

“Staying ahead involves a relentless pursuit of innovation. Sobha Realty embraces cutting-
edge technologies, sustainable practices, and customer-centric design to anticipate and meet
evolving preferences. Our adaptability ensures we remain a trendsetter in the industry,”

Menon said.

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