Page 51 - SOBHA REALTY PR REPORT - JULY 2024

7/22/24, 1:10 PM Latest News

Moody's Ratings affirms PNC Investment’s (Sobha

Realty) Ba3 CFR and upgrades its sukuk rating to

Ba2; outlook stable

22/07/2024

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.

To read more please find the link to PRL: https://ratings.moodys.com/ratings-news/424962

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