Dubai developer posts Dh23b sales in 2024
Sobha Realty Eyes Overseas Expansion and Targets Dh30 Billion in Sales by 2025
Sobha Realty, a leading name in luxury real estate, has announced ambitious plans for overseas expansion into the UAE and Australia. The company projects total sales of Dh30 billion in 2025, with Dh20 billion attributed to Dubai developments and Dh10 billion from its flagship project, Sobha Siniya Island.
The developer achieved record-breaking sales of Dh23 billion in 2024, exceeding its annual target.
Sobha Realty reported a remarkable 50% year-on-year growth in sales, driven by its extensive portfolio of high-end properties in the UAE.
PNC Menon, founder of Sobha Group, commented: “2024 has been a landmark year for Sobha Realty, marked by record-breaking sales and transformative partnerships that set the stage for our future. This success reflects our unwavering commitment to delivering exceptional properties. As we move into 2025, we remain focused on adapting to a dynamic market, enhancing customer experiences, and strengthening our position as a global leader in real estate.”
The first phase of Sobha Siniya Island, a luxury development valued at $5 billion, is set to become a benchmark for preserving nature while building premium residential and commercial spaces. The project will house over 25,000 residents across 8,000 units upon completion. Positioned on one of the UAE’s largest natural islands, Sobha Siniya Island aims to transform the city of UAQ and attract top-tier developments.
Following its launch in 2024, the project achieved sales of 2,140 units within just five months.
In 2024, Sobha Realty launched four new masterplans, further solidifying its presence in the UAE real estate market. The company retained a 10% share of Dubai’s real estate market and is currently managing 11 masterplans across the country.
The past year marked a pivotal moment for Sobha Realty as it expanded its global reach through intensified international marketing efforts. Landmark projects like Sobha Siniya Island, Sobha Elwood, Sobha Orbis, and Sobha Solis set new industry standards and drove significant consumer interest.
According to a brand health study among property seekers, Sobha Realty was ranked as the second-most recalled real estate brand in the UAE for the second consecutive year. Additionally, the company achieved an outstanding 4.7-star rating on Google, reflecting the trust and loyalty of its customer base.
