Sobha Realty posts record $4.2bln sales for 2023 in Dubai

Sobha Realty posts record $4.2bln sales for 2023 in Dubai

04 February 2024, Trade Arabia

Sobha Realty, a leading real estate developer in the region, has closed FY 2023 with record-breaking sales of AED15.5 billion ($4.2 billion), up 51% over the previous year across its diverse portfolio of residential and commercial developments in Dubai.

The company handed over 1819 units in the last year across 2 of its completed projects, before their due date. In view of this sales growth, the company has attained a market share of 10% by value in Dubai during the year.

After attaining this sales target in 2023, Sobha is now aspiring to achieve AED20 billion this year, ity stated.

Sobha Realty’s steadfast commitment to ensure utmost excellence in design, craftsmanship, quality, and customer satisfaction, as well as timely delivery of its projects have been key factors for the rising demand for its properties.

Last year, the company also made significant strides in establishing a robust global presence through its marketing efforts and set out the aspiration to expand its footprint in some key global markets.

Sobha Realty’s consistency in setting new industry standards with each of its projects, including the newly launched Sobha Hartland-2 and Sobha Seahaven Sky Edition, has resulted in a strong demand from the consumers.

Last year the company took a strategic initiative to introduce their first corporate brand campaign ‘The Art Of The Detail’ which showcases the DNA of the organization, said the statement.

As a result, Sobha realty rose up to become the 2nd most recalled brand in Dubai Real Estate in the year, reported in a brand heath research conducted amongst real estate intenders, it added.

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