Sobha Realty – Luxury for Everyone

Sobha Realty tells us how they have made luxury homes accessible for a wide range of customers.

Sobha Realty was established in 1976 as an interior decoration firm in Oman by PNC Menon. It grew over time with developments and investments in the UAE, Oman, Bahrain, Brunei and India. Over the last 40 years, Sobha Realty has leveraged its in-house capabilities of conceptualisation, design and development to define the real estate value chain.

 “Sobha Realty has seen unprecedented growth since we launched our Dubai presence in 2005,” explains Jyotsna Hedge, President of Sobha Realty. “We will be a billion-dollar company in the next three to five years and as a company with dominance across the domestic market in the U.A.E, we are continuing to grow and develop our vision for our flagship scheme, Sobha Hartland.”

Globally, Sobha Realty and Sobha Ltd. employ over 28,000 people and work hard to find the right artisan and craftsman for each job so that they can continue to deliver homes of unparalleled quality.

“Over the past four decades, we have delivered over 100 international projects which amount to more than 100 million square feet of residential and commercial space,” Hedge says. “Which is quite a legacy to take forwards.”

It has been a strong year for Sobha Realty in Dubai. The company hit sales figures of over £225 million (1 billion AED) in the first six months and is steadily on track to achieve £450 million (2 billion AED) overall this year, a fantastic progression from the total £135 million (600 Million AED) the company achieved last year.

“Our company’s goal is working towards achieving a target of £670 million (3 billion AED) in sales annually, a goal that I think which can be achieved in the coming three to five years,” Sobha says.

Every Home A Luxury

The numbers are only part of the story, however. Sobha Realty’s real goal is to build homes that people want to live in, not just good-looking products. Sobha Hartland caters to a range of customers and has a variety of products at different price points on offer, a strategy which is translating into steady sales and continued demand from all market sectors.

“By being the only backward integrated real estate company in the world, we can control every element of the design, development and delivery of each home, which is a unique strength,” Hedge says. “Sobha has a rich heritage of craftsmanship and we want each home we build to be on an exceptional standard, whether you are buying a studio apartment or a bespoke villa.”

What marks Sobha apart from other developers is its ability to execute world-class luxury products in a timely fashion. This has led to Sobha having a well-respected name and brand strength across the UAE, India and the UK.

“We can ensure each home is of exceptional quality and because we manage every part of the supply chain, our buyers can trust the end product they receive,” Hedge says.

Every Sobha home is a top-end luxury product and Sobha strives to provide an array of products in various styles and sizes for its buyers to choose from so that a customer’s budget does not limit the quality of product available to them.

“This year at Sobha Hartland we have seen high demand for our luxury apartments which offer views over Downtown Dubai, which prompted the release of our new tower Creek Vistas Reservé,” Hedge observes. “Our homes are competitively priced for the Dubai property market and many customers comment on the quality of property available. A growing sector for us is our European and British buyers, as we launched the Sobha Global Studio on Park Lane earlier this year. Since then, we have seen a steady increase in British Buyers who are buying our entry-level homes for investment, up to our premium waterfront villas as luxury holiday homes, with over £20 million of properties at Sobha Hartland sold in the past four months to British buyers.”

A Guiding Vision

Sobha Realty is also paying close attention to emerging growth drivers for the UAE such as the Far East markets, finding ways to adapt its products to suit this new sector and keep the company agile in the real estate industry.

Across all the markets Sobha is involved in the company builds and runs its own factories, allowing them to ensure there is a product to match demand and ensure its homes are always the priority. It’s a strategy and vision guided by Sobha Realty’s founder and Chairman PNC Menon and his values and worth ethics which are part of the company’s DNA. Because PNC Menon is so quality-driven and leads by example, it inspires each employee to work to their best ability.

“We also seek to find the potential in each employee and help them to thrive, which is why so many of our employees choose to stay within the company and grow their careers here,” Hedge says. “By focusing on internal mobility, we create an environment where an employee can develop their strengths and widen their experience to achieve their best potential. This leads to a highly competent and skilled workforce, and one that is truly invaluable.”

PNC Menon’s leadership will take the company to realise some exciting plans, depending on where the market goes.

“We are considering a further project in Dubai, and equally we are considering possible projects in the UK as the opening of our Studio in Mayfair has been very positive,” explains Hedge. “The next big market we would like to break into is North America given the scale of the opportunity. As always, we do not feel rushed at Sobha and whichever project we undertake next it will be with the same determination, skill and craftmanship we have honed over the past four decades.”

However, as well as looking to the company’s future, they are working to preserve their legacy, so that the brand name of Sobha Realty and its homes are here for good. And they mean “For good” in every sense of the word.

“A company of our size must be a socially responsible corporate citizen on a global level,” Hedge says. “Sobha is dedicated to helping those less fortunate through our Corporate Social Responsibility initiative, the Sri Kurumba Trust. This trust improves the living standards, quality of life and unique opportunities available to the poorest families living in Kerala, India.”

The trust focuses on education and healthcare for over 4,500 families who live below the poverty line and is committed to supporting these families as they grow.

Hedge concludes, “Helping those less fortunate is very close to Mr PNC Menon’s heart and by leading by example, he encourages each of us to consider how we can make a positive impact on other people’s lives.”

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