With an unprecedented booking of Dh15.5 billion, Sobha Realty concluded a remarkable 2023. The surge in demand for its luxurious properties propelled the company to achieve record-breaking sales, marking a 51% increase over previous years.

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Having surpassed its target of Dh15 billion in sales for 2023, Sobha Realty now sets its sights on reaching Dh20 billion in sales for the upcoming year. Despite market challenges, the company successfully completed two projects and delivered 1819 units ahead of schedule, cementing its position with nearly 10% market share in Dubai.

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Ravi Menon, Co-Chairman of Sobha Realty, expressed satisfaction with the company’s performance, emphasizing their commitment to excellence and strategic partnerships. Looking ahead to 2024, Sobha Realty remains focused on adapting to market trends and enhancing service quality, aiming to sustain its upward trajectory in the dynamic real estate landscape and establish itself as a global brand.

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Moreover, Sobha Realty received favorable credit ratings from S&P Global Ratings and Moody’s, underscoring its strong financial position. The successful $300 million Sukuk issuance further demonstrated the company’s ability to attract diverse international investors, solidifying its position as a leading player in the real estate market.