Page 48 - SOBHA REALTY PR REPORT - JULY 2024

7/22/24, 1:10 PM Moody’s Ratings affirms PNC Investment’s (Sobha Realty) Ba3 CFR and upgrades its sukuk rating to Ba2; outlook stable - Middle …
Moody’s Ratings affirms PNC

Investment’s (Sobha Realty) Ba3 CFR

and upgrades its sukuk rating to Ba2;

outlook stable

July 22, 2024 9

PNC Investments LLC (PNCI), the parent company of Dubai-based residential developer Sobha
Realty, received an affirmation of Ba3/stable corporate family rating (CFR) from Moody’s

Ratings, an international rating agency. Additionally, the agency has upgraded the senior
unsecured rating of PNCI’s sukuk, issued by Sobha Sukuk Limited, from Ba3/stable to

Ba2/stable.

Being a renowned and trusted name in the real estate sector, Sobha Group has continuously
delivered excellence in the realm of luxury residential and commercial development, reflecting

its unwavering commitment to quality, innovation and customer satisfaction. The foremost
backward integrated company known in the world with all the key competencies and in-house
resources to deliver a project from conceptualization to completion ensuring timely

delivery and unmatched quality. In the fast-paced real estate market of Dubai, Sobha Group is
poised for unparalleled achievement owing to its strong portfolio of landmark projects and

steady expansion.

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