Eid Al Adha Mubarak from Gulf Estate Gazette

As we celebrate Eid Al Adha, Gulf Estate Gazette extends warm wishes to all our readers. May this blessed occasion bring peace, happiness, and prosperity to you and your loved ones. Eid Mubarak!

Real Estate ResourcesIndustry Influencers & VisionariesUnited Arab Emirates

Sobha Realty 2023 sales at all-time high with record Dh15.5b in bookings

Record-Breaking Sales
  • Sobha Realty achieves unprecedented success in 2023 with sales reaching an all-time high, totaling Dh15.5 billion in bookings, underscoring the company's strong market position and customer demand for its properties.
Sobha Realty 2023 sales at all-time high with record Dh15.5b in bookings

Dubai: Sobha Realty concluded the year 2023 with record-breaking sales. The company recorded all-time high sales of Dh15.5 billion in 2023, amid surging demand for its luxury properties.

In 2023, the company witnessed a 51 per cent growth in sales across its diverse portfolio of residential and commercial developments in Dubai. The company attained its sales target of Dh15 billion in 2023 and is aspiring to achieve Dh20 billion in 2024.

The company handed over 1819 units in the last year across 2 of its completed projects, before their due date. In view of this sales growth, the company has attained a market share of nearly 10 per cent by value in Dubai during the year.

Ravi Menon, Co-Chairman of Sobha Realty, said: “We are delighted to conclude 2023 on a high note, attaining record-breaking sales and establishing strategic partnerships that will shape the future of Sobha Realty. The exceptional growth reflects our steadfast commitment to delivering high-quality properties. As we step into 2024, our focus remains on adapting to evolving market trends and elevating the quality of our services, further ensuring a continuation of our upward trajectory in the dynamic real estate landscape and realising our vision to be a global real estate brand.”

Furthermore, PNC Investments, the group’s holding company, garnered credit ratings of ‘BB-‘from S&P Global Ratings and ‘Ba3’ from Moody’s in 2023, underscoring its substantial financial strength. The developer’s historic $300 million Sukuk issuance last year also demonstrated its capability to attract a wide range of investors from across the globe. 


Gulf Estate Gazette

Gulf Estate Gazette is a leading source for comprehensive insights into the dynamic real estate landscape of the GCC and MENA region. Our platform is dedicated to providing valuable information and perspectives for individuals, investors, and industry professionals. With a passionate team and an unwavering commitment to excellence, we aim to empower our audience with the knowledge and opportunities needed to thrive in the ever-evolving world of real estate in the Gulf and beyond.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button