DUBAI: Sobha Realty is a multinational, multi product Realty with developments and investments in U.A.E., Sultanate of Oman, Qatar, Bahrain, Brunei and India. Established in 1976 by a first-generation Omani entrepreneur, PNC Menon as an interior decoration firm under the name of Services and Trade Company in Muscat, Oman, the Realty has grown into one of the most respected names in all the countries in which it has established businesses.
Mr. PNC Menon, Founder & Chairman of Sobha Realty started his business in Muscat in 1976 with $7 in his pocket after a chance meeting with Captain Sulaiman Adawi, an Omani army officer, in a hotel lobby in Kochi, Kerala. Within 45 days later, he was in Oman, looking for business and upon landing in Oman, he and his partner borrowed 3,000 Omani riyals to start a small street-side furniture and interiors business under the name of Trade and Services Co. Initially, it was a ‘briefcase business’ — trying to fix small things, maintenance, etc — and then it developed into an interiors outfit. By 1984, the company began to get big contracts, driven mostly by word of mouth due to its quality of work. Soon after he received a call to work for the Sultan’s office in Muscat, to work on a palace. The rest is history. His company then went on to work for the royalty of Oman, Bahrain, Qatar and the president of Tajikistan. He spent the most glorious part of his career designing and developing palaces, royal facilities and mosques.
The Grand Mosque in Muscat bears testimony to his work. Over the course of these 8 years, he developed a strong bond with Oman, a country which provided him with a strong foundation and
“backbone” that has enabled him to achieve greater success in the years ahead. In 1995, he and his family and were granted Omani citizenship. This recognition symbolizes Mr. Menon’s strong and lifelong connection with the Gulf.
Some noteworthy projects in Oman which are a direct testimony to the quality work done by Sobha are:
- Sultan Qaboos Grand Mosque
- Al Bustan Palace Hotel
- VVIP Lounge, Muscat International Airport
- Crown Plaza
- Lexus & Toyota Showrooms
Sobha as a brand stands and strives for benchmark quality, customer centric approach, robust engineering, in-house research, uncompromising business ethics, timeless values and transparency in all spheres of business conduct, which have all contributed to making it a brand trusted for excellence.
Sobha is an organization where quality meets excellence, technology meets aesthetics and passion meets
perfection. It expanded its footprint in 2003 to Dubai, the business capital of the Middle East. Dubai’s world-class infrastructure, sustainable economic growth and access to international talent made this an ideal location to establish Sobha Middle East, a privately held company with plans to diversify across GCC and some other regions in Asia and Europe with focus on luxury residential development, education, hospitality and furniture manufacturing.
Being the foremost backward integrated company in the world is what makes Sobha Realty stand apart from the rest of the real estate organisations. It means that the company has all the key competencies and in-house resources to deliver a project from conceptualization to completion. Sobha is primarily focused on residential and contractual projects. The Company’s residential projects include presidential apartments, villas, row houses, super luxury & luxury apartments, plotted developments and aspirational homes. With a reputation for unmatched construction and interiors, Sobha Realty has delivered over 89. 64 million square feet of both residential and commercial projects since inception. It has 71 ongoing projects with a developable area of 101 million square feet.
At present there are three major projects under construction, two of which are located at prime locations in Dubai and are expected to be completed by 2020. The Sobha Hartland project was launched in 2014, which is a $4 billion dollar, mixed-use development. The resort-style luxury housing project encompasses 8 million square feet of freehold community in Mohamed bin Rashid Al Maktoum City. 30% (2.4 million square feet) of the community is only reserved for greenery.
The Meydan Sobha District One project is valued at $8 billion. It is a joint venture with Meydan Realty and will develop 45 million square feet of freehold land into an exclusive destination of luxury villas and mansions surrounded by expansive green parks and lagoons within the Mohammed Bin Rashid Al Maktoum City.
Sobha Realty is also developing the Firdaus Sobha – a JV between the Govt. of Umm Al Quwain and Sobha Realty. It is a Dh25 billion tourism resort on Al Sinniyah Island alongside Khor al-Beidah, one of the largest areas of undisturbed coastline in the UAE. It will cover a 53 million square feet site on the island, which is 1.2 kilometres from the shoreline. A bridge is also planned to link the island to the mainland and highway network.
It will contain a minimum of four to five resorts and hotels, plus an 18-hole golf course, a separate par three course and an academy. It will also house boutique retail units, two villa communities, low-rise apartments and a marina. A series of man-made canals and lagoons will also be created around the site, with accompanying boardwalks.
The partners will each have a 50:50 stake in the joint venture, and it will be developed in phases. Detailed plans for the resort have yet to be drawn up, but it will contain 24 million sq ft of built-up area, including low-rise apartment blocks and luxury golf course and sea view villas.
A company will be appointed to handle master planning and detailed designs will be ready in six to nine months. The first phase will be completed within three years. Sobha Realty will handle the construction part.
Commenting on this journey Mr. PNC Menon, Founder & Chairman of Sobha Realty says, “With a legacy and track record of over 42 years, Sobha Realty’s vision is to be the most trusted and respected real estate organization in the GCC and to continue to transform the way people perceive quality by
pioneering innovative projects and exceeding customers’ expectations across core markets. Dubai offers a range of exciting projects that caters to every need and fancy of investors ranging from 149 nationalities. Sobha Hartland, surrounded by 2.4 million square feet of greenery and set along the Dubai Water Canal, enjoys the unique advantage of prime location. With Hartland Greens, Waterfront villas, and Hartland Estates –Town House community, Sobha Realty continues to set a benchmark in offering world- class bespoke living experience. Our belief “Passion at Work” at Sobha Realty is what motivates more than 3,500 Sobhaites today to become specialists in their field”.
In the recent past, Sobha Realty has been recognized as one of the Top Real Estate Companies in the Arab World 2017 by Forbes Middle East and also ranked 6th in the Top 10 GCC Developers Rankings 2016 by Construction Week. This only reiterates the company’s commitment to the Middle East region. News Desk
