Dubai's Sobha Realty is set to launch between eight to ten major projects in the UAE in 2025, with an ambitious sales target of Dh30 billion (approximately $8.16 billion). Founder PNC Menon highlighted the strong market opportunities and supportive government policies as key drivers behind this expansion. The projects are expected to generate Dh22 billion in Dubai and Dh8 billion in Umm Al Quwain, reflecting the company's confidence in the local real estate market [1700fc27].
As of November 2024, total real estate transactions in Dubai reached 188,000, valued at Dh625 billion, indicating a robust property market that Sobha aims to capitalize on. The company has successfully sold homes to customers from 50 different countries, with India, China, and the UK being the top markets for its offerings [1700fc27].
In addition to its UAE projects, Sobha Realty is actively seeking to expand into the US market, currently negotiating for a plot in Dallas, Texas. The company aims to achieve $1 billion in sales within the first year of its US project, marking a significant step in its international growth strategy. Furthermore, Sobha is also considering expansion into Australia, showcasing its ambitions beyond the Middle East [1700fc27].
In a related development, Damac Properties is also making headlines with its plans to invest $20 billion in US data centers, reflecting a growing trend among UAE real estate companies to diversify their investments internationally. This move aligns with the increasing interest in technology-driven real estate solutions and infrastructure in the US market [1700fc27].
The strategic expansions by both Sobha Realty and Damac Properties underscore the dynamic nature of the UAE's real estate sector and its potential for growth in international markets, driven by strong demand and innovative investment strategies.