Sobha Realty achieves all-time excessive gross sales in 2023 with document bookings of AED 15.5bn

DUBAI – Sobha Realty, a number one actual property developer within the area dedicated to delivering unrivalled high quality and luxurious, concluded the 12 months 2023 with record-breaking gross sales. The corporate recorded all-time excessive gross sales of AED 15.5 billion in 2023, demonstrating the surging demand for its luxurious properties.

In 2023, the corporate witnessed a 51 per cent development in gross sales throughout its various portfolio of residential and industrial developments in Dubai. The corporate attained its gross sales goal of AED 15 billion in 2023 and is aspiring to attain AED 20 billion in 2024. Sobha Realty’s steadfast dedication to make sure utmost excellence in design, craftsmanship, high quality, and buyer satisfaction, in addition to well timed supply of its tasks have been key elements for the rising demand for its properties. The corporate handed over 1819 items within the final 12 months throughout 2 of its accomplished tasks, earlier than their due date. In view of this gross sales development, the corporate has attained a market share of ~10 per cent by worth in Dubai through the 12 months.

Final 12 months, the corporate additionally made vital strides in establishing a sturdy international presence by way of its advertising and marketing efforts and set out the aspiration to broaden its footprint in some key international markets. Sobha Realty’s consistency in setting new trade requirements with every of its tasks, together with the newly launched Sobha Hartland-2 and Sobha Seahaven Sky Version, has resulted in a powerful demand from the customers.

Final 12 months the corporate took a strategic initiative to introduce their first company model marketing campaign ‘The Artwork Of The Element’ which showcases the DNA of the group. Because of this, Sobha realty rose as much as turn out to be the 2nd most recalled model in Dubai Actual Property within the 12 months, reported in a model heath analysis carried out amongst actual property intenders.

Ravi Menon, Co-Chairman of Sobha Realty, stated: “We’re delighted to conclude 2023 on a excessive observe, attaining record-breaking gross sales and establishing strategic partnerships that can form the way forward for Sobha Realty. The distinctive development displays our steadfast dedication to delivering high-quality properties. As we step into 2024, our focus stays on adapting to evolving market traits and elevating the standard of our companies, additional guaranteeing a continuation of our upward trajectory within the dynamic actual property panorama and realising our imaginative and prescient to be a world actual property model.”

All through 2023, Sobha Realty strategically elevated its market place and ensured continued success by creating worthwhile partnerships. Consistent with its endeavour to discover new alternatives past the regional actual property panorama, Sobha Realty entered into a major enterprise with IIFA 2023 to cater to the worldwide Indian audiences, in addition to marked a multi-year principal partnership with Arsenal Soccer Membership for a very international outreach.

Moreover, PNC Investments, the group’s holding firm, garnered credit score rankings of ‘BB-‘from S&P International Scores and ‘Ba3’ from Moody’s in 2023, underscoring its substantial monetary energy. The developer’s historic USD 300 million Sukuk issuance final 12 months additionally demonstrated its functionality to draw a variety of buyers from throughout the globe. One other notable achievement was the Guiness World File for creating the ‘largest helmet mosaic shaped by folks’ depicting the UAE flag.

Throughout 2023, Sobha Realty witnessed a exceptional journey marked by surging buyer demand, fruitful collaborations, and substantial gross sales, all of which helped the corporate attain vital end-of-year milestones.