(MENAFN- Khaleej Times)
Sobha Realty has set sights on overseas expansion in the UAE and Australia, says it expects to reach total sales of Dh30 billion in 2025 within the UAE - Dh20 billion for Dubai developments and Dh10 billion for its iconic project, Sobha Siniya Island.
The leading luxury developer has announced record-breaking sales of Dh23 billion in 2024, surpassing its target for the year.
Sobha said it achieved 50 per cent growth in sales year-on-year, driven by its diverse portfolio of properties in the UAE.
PNC Menon, founder of Sobha Group, said:“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.”
Worth $5 billion, the first phase of Sobha Siniya Island - a luxury development coming up on one of the largest natural islands of the UAE, will welcome more than 25,000 residents across 8,000 units on completion The project will set a new benchmark on preserving nature when building opulent and high-quality residential and commercial spaces. According to Sobha, the development is set to positively transform the city of UAQ, and attract superior-quality projects.
The project witnessed sales of 2,140 units within five months after the launch in 2024.
The developer launched four new masterplans during 2024. With these achievements, Sobha Realty continues with 10 per cent of Dubai's real estate market share in 2024 with 11 masterplans across the UAE.
“Last year marked a significant chapter in Sobha Realty's journey to global prominence. The company amplified its international marketing efforts, expanding its footprint into key global markets. Projects such as Sobha Siniya Island, Sobha Elwood, Sobha Orbis, and Sobha Solis set industry benchmarks, driving robust consumer demand,” said the statement.
Sobha Realty said it was ranked as the second-most recalled real estate brand in the UAE for the second consecutive year, according to a brand health study among property seekers. The developer has achieved an impressive rating of 4.7 on Google,“further reiterating the love and trust consumers have for the brand,” said the statement.
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