In the luxury real estate arena, Sobha Realty has emerged as a leading contender, demonstrating remarkable progress over the past year. Renowned for its unwavering commitment to exceptional quality and innovative practices, the brand has achieved noteworthy milestones. According to recent reports, Sobha Realty accomplished record-breaking sales totaling AED 23 billion in 2024, representing significant growth compared to the previous year. Notably, AED 5 billion of this figure was generated solely from Sobha Siniya Island, which was launched in the market in November 2024 and is currently operational. This growth underscores the increasing demand for Sobha Realty’s luxurious real estate developments.
Surpassing its sales targets for 2024, Sobha Realty has recorded an impressive 50% year-on-year growth, driven by a diverse portfolio of high-end residential properties throughout the UAE. With this substantial annual growth trajectory, projections for 2025 suggest anticipated sales of AED 20 billion for Dubai developments and AED 10 billion for Sobha Siniya Island. This extraordinary performance signifies the company’s dedication to excellence in design, craftsmanship, and timely delivery. Throughout the year, Sobha Realty successfully launched four new masterplans, reinforcing its commitment to innovation within the sector. Moreover, the company is expected to maintain a 10% share of Dubai’s real estate market in 2025, supported by 11 masterplans across the UAE.
The previous year marked a significant chapter in Sobha Realty’s evolution, establishing a strong global presence. The company has effectively showcased its international marketing endeavors, expanding its footprint into key global markets. Substantial residential projects, including Sobha Siniya Island, Sobha Elwood, Sobha Orbis, and Sobha Solis, have responded to vigorous consumer demand, setting new industry benchmarks. The inaugural island project, Sobha Siniya, has witnessed exceptional sales, with 2,140 units sold within just five months since its launch. This project made headlines in the market in 2024 and is projected to illustrate even greater potential in 2025.
Looking ahead, Sobha Realty has ambitious growth plans that include expansion into the USA and Australia, positioning itself for continued success this year and beyond. It’s also worth noting that Sobha Realty has been recognized as the most recalled real estate brand in the UAE for the second consecutive year, according to a comprehensive brand health study among property seekers. With an exemplary Google rating of 4.7, this further underscores the developer’s strong reputation and the trust it has cultivated among consumers who have engaged with the brand.
Mr. PNC Menon, the founder of the Sobha Group, emphasized, “2024 has been a landmark year for Sobha Realty, marked by record-breaking sales and transformative partnerships that pave the way for our future. This success underscores our dedication to crafting exceptional properties. As we step into 2025, we are committed to staying agile in a dynamic market, elevating customer experiences, and reinforcing our standing as a global leader in real estate.”
Furthermore, Sobha Realty’s consistent efforts to solidify its position as the foremost fully backward-integrated real estate company have led to expansions in its backward integration portfolio. Significant establishments, such as the Sobha Modular and Facade Factory for pod and facade manufacturing, have been introduced by the Sobha Group. Additionally, Sobha Energy Solutions is a newly launched division aimed at revolutionizing the cooling service sector.
Sobha Realty’s strategic partnerships have also played a key role in its achievements throughout 2024. The audience-favorite IIFA 2024 partnership has further connected the brand with global Indian audiences. As the official cause partner for the “I Can Make A Difference” initiative, Sobha Realty has contributed to international women’s empowerment through extensive support and efforts. Moreover, its multi-year principal partnership with the Arsenal Football Club has significantly enhanced global outreach, with Arsenal’s training facility now named the Sobha Realty Training Centre – a first-of-its-kind naming collaboration.
In terms of financial strength, Sobha Realty’s holding company, PNC Investments, received a Ba3/stable corporate family rating (CFR) from Moody’s Ratings. Additionally, Moody’s upgraded the senior unsecured rating of PNCI’s sukuk, issued by Sobha Sukuk Limited, from Ba3/stable to Ba2/stable. The recent sukuk tap has increased Sobha Realty’s total sukuk issuance to USD 500 million, building upon the initial USD 300 million sukuk listed on the London Stock Exchange (LSE) and NASDAQ Dubai. This strategic move highlights the company’s ability to attract a diverse pool of international investors.
In conclusion, Sobha Realty’s journey throughout 2024 has been characterized by rising customer demand, versatile international collaborations, strategic brand partnerships, and a record in sales. These significant accomplishments truly encapsulate the company’s mission to provide excellence and solidify its position as a leading competitor committed to continued growth in Dubai’s dynamic luxury real estate market.
