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Sobha Realty achieves record-breaking $4.2 billion sales in FY 2023

Sobha Realty achieved a 51% sales increase in FY 2023, securing a 10% market share by value in Dubai

Sobha Realty achieves record-breaking $4.2 billion sales in FY 2023

Sobha Realty, a leading real estate developer in the region, has closed FY 2023 with record-breaking sales of $4.2 billion (AED 15.5 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 two of its completed projects, before their due date. Given 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 Realty now aspires to achieve $5.45 billion (AED 20 billion) this year, it stated.

Sobha Realty’s steadfast commitment to ensuring 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 consumer demand.

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

As a result, Sobha Realty climbed to the second spot as one of the most recognised brands in Dubai real estate this year, according to a brand health survey among potential real estate buyers.