Dubai – Mubasher: Sobha Realty on Wednesday announced that its sales bookings registered AED 500 million during the first quarter of 2019.
Sales of the leading premium real estate developer increased 33% year-on-year over the target of AED 375 million in Q41-19, the company said in a statement.
In 2018, the company revealed its intentions of generating up to AED 1.5 billion (US$408.4 million) in turnover over the course of 2019, increasing the target by two-thirds to AED 2.5 billion (US$680.7 million) in 2021.
Sobha eyes doubling its market share to 5% by 2021, according to the statement.
“The strong performance of Sobha Realty testifies to the strength of Dubai’s property sector, driven by mature economic fundamentals and a robust regulatory framework. Through our flagship project, Sobha Hartland, we offer world-class residential options that stand out for their flawless design and superior build quality, proving that regardless of market conditions, there is always a keen demand for luxury living spaces,” Tirthankar Ganguly, chief marketing officer of Sobha Realty, said.
