Dubai’s Sobha Realty is celebrating strong start to the year, with sales worth AED7.4bn ($2bn) in the first six months of the year.
According to data released by the real estate developer sales increased 129 per cent on the previous year.
For the periods of January to June revenues and EBITDA rose by 20 per cent and 19 per cent respectively.
Sobha Realty performance
The developer said the Dubai off-plan primary market has increased by 70 per cent year-on-year and is being supported by strong demand from local and international buyers as well as government initiatives.
Looking forward, Sobha Realty identified a pipeline of more than 9,600 units and a 32 million square feet saleable area as signs to support medium term growth for investors.
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