Page 50 - 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

Moody's Ratings affirms PNC Investment’s

(Sobha Realty) Ba3 CFR and upgrades its sukuk

rating to Ba2; outlook stable

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7/21/2024 9:17:57 AM

(MENAFN- Orient Planet Group) Dubai, July 21, 2024: 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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