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Chinese, Emiratis, Indians among Sobha Realty's top 2019 investors

Growing investor interest pushes year-to-date sales at Sobha Realty to $272m as Dubai project popularity grows

Sobha Realty is based in Dubai.
© ITP Media Group / Efraim Evidor
Sobha Realty is based in Dubai.

Dubai real estate company Sobha Realty, led by Indian-born founder and chairman PNC Menon, has recorded $272.2m (AED1bn) in sales on the back of strong investor interest in Sobha Hartland, with Chinese investors topping the list of buyers of Sobha Realty’s properties – accounting for 34.5% of its sales so far in 2019 – followed by Emiratis (15%), India (8%), and Saudi Arabia (7.6%).

In a statement, the company said year-to-date results had expanded by 165% over the same period in 2018. 

Sobha Hartland is the developer's 74.3ha waterfront development in Mohammed Bin Rashid City along Dubai Water Canal, with the developer having sold more than 800 units of the project so far.

Sobha's Creek Vistas project remained a popular choice among investors, followed by Hartland Greens and Hartland Estate villas.

Commenting on the results, Menon said: “The numbers are testimony to Sobha Hartland’s value proposition of an exclusive sustainable living experience in the heart of the city.

“The year on year increase in sales revenue and the positive results issued by Dubai Land Department reinforce the bullish outlook for Dubai’s real estate market with the number of transactions across the city registering a 33% growth over the same period last year.

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Construction Week - Issue 753
Nov 09, 2019