Sobha Realty eyes AED 2bn sales in 2019

Sobha Realty, a premium real estate developer based in Dubai, is planning to launch a new project in Dubai within the coming three months, Al Khaleej Newspaper reported.

The property developer is expected to generate around AED 2 billion in sales by the end of 2019, founder of Sobha P.N.C. Menon said.

Menon also indicated that Sobha Hartland project has received a huge response from local and international investors, according to the newspaper.

Moreover, the company is considering filing an initial public offering (IPO) in one of the global stock markets, he revealed, adding that it would take place in 2020.

In June, Sobha Realty announced the launch of One Park Avenue, a residential tower development at Sobha Hartland located in Mohammed Bin Rashid City, Dubai, which is set for delivery in April 2023.

In March, Sobha said it had entered the Chinese market by opening its first selling office in Shanghai

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