Sobha Realty anticipates reaching a total sales of Dh30 billion in 2025 in the UAE — Dh20 billion for Dubai developments and Dh10 billion for its landmark project, Sobha Siniya Island. The company has set its sights on international expansion in the UAE and Australia.
The largest luxury developer has surpassed its annual sales goal for 2024, announcing record-breaking sales of Dh23 billion.
According to Sobha, its varied portfolio of properties in the United Arab Emirates was the primary driver of its 50% annual sales growth.
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.”
When the $5 billion first phase of Sobha Siniya Island, a luxury development on one of the UAE’s largest natural islands, is finished, it will house 8,000 units and more than 25,000 residents. The project will establish a new standard for protecting the environment while constructing luxurious and superior homes and businesses. The development is expected to bring in high-caliber projects and improve the city of UAQ, according to Sobha.
Within five months of its 2024 launch, 2,140 units were sold as part of the initiative.
In 2024, the developer unveiled four new masterplans. With these accomplishments, Sobha Realty maintains its 10% market share in Dubai real estate in 2024, having constructed 11 master plans around the United Arab Emirates.
“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.