Page 18 - SOBHA REALTY PR REPORT - DECEMBER 2023

Menon’s approach to business has enabled Sobha Group to hit incredible numbers,
with the founder expecting annual sales to reach $4 billion this year, potentially reaching
$5 billion in 2024.

Sobha’s founder-chairman is also a man of detail. By his own admission, he is not open
to compromise. “I'm very finicky – I cannot accept anything that is mediocre. The most
important thing for me is to make sure that everything is perfect,” he says.

In the pursuit of perfection, Menon sees no better place on Earth than Dubai to do
business and the Omani passport holder has called the wider GCC region home for 47
years and counting. Still, as the group looks to the future, its vision extends beyond the
region’s borders, with significant potential on the horizon in the United States.

For Menon, the future also means ensuring the right people are in place to drive the
business into the future, and he believes he has the right team for the job. His son, Ravi
Menon, who serves as co-chairman, has been onboard since 2004, while Sobha
Realty’s managing director, Francis Alfred, has worked at the company for 22 years.

With the talent, resources, and opportunities in place, the future looks bright for Sobha,
but the group’s ascendancy has not been without challenge. According to Menon, 2009
dealt a particular blow. “The whole world went through a recession or depression, and
we also became a victim of that,” says the founder. “One thing I learned is leveraging
real estate industry is very cyclical, so you have got to make sure that you have a strong
equity base,” he advises.

Menon’s wisdom is based on decades of firsthand experience, and while he has
achieved almost unparalleled success in his industry, his mind is focused squarely on
tomorrow. “Today and yesterday are past. The future is more important,” he insists. At
Sobha, that future means advanced technology, innovation, and blazing new trails.
“We'll be one of the first set of people, at least in Dubai, to get into robotics and artificial
intelligence,” says the business mogul.

In fact, Sobha has already started. The group is busy setting up an office with robotics
and AI engineers and Menon is excited about the potential ahead. “Countries such as
the United States, Germany, Japan, and Korea have already introduced robotics into
the construction or building industry, and hopefully we should be integrating ourselves
within the next few years,” he says. “That challenge is for my son.”

https://www.forbesmiddleeast.com/leadership/special-interview-1/pnc-menon-founder-and-chairman-
of-sobha-group-building-the-future