Posted by Sarah Campbell
Tuesday, 09 October 2007
Sobha Group is embarking on a period of rapid expansion in the Middle East, as the company aims to bring its quality driven construction excellence to a host of developments in Dubai and across the region.
The US $2 billion Sobha Group, with extensive interests in real estate development, civil and MEP contracting, factories for aluminium, façade glazing, joinery and concrete products etc., has been the driving force behind many of India’s leading residential and commercial developments in recent years.
In India alone, the company has developed over 10 million sq.ft of quality real estate, with a team of over 25,000 people. The Sobha portfolio includes such prestigious landmark constructions as Kerala’s first integrated township Sobha City in Thrissur and the Sobha Lifestyle Presidential Villas in Devanahalli. The company has also been behind the development of the many Infosys offices and commercial buildings, including the pyramid-shaped Infosys Studio in Bangalore.
Sobha Group has had a presence in the Middle East since the 1970s, when the company Chairman, PNC Menon established the Services & Trade Group in Oman, specialising in interiors outfitting and as a contractor for other developers in the region. The company has been a part of some of the most prestigious palaces, mosques and five-star hotels in the Arabian Gulf.
Today, Sobha Group also has operations in Doha, Dubai, Bahrain, Germany and the USA. Sobha (Indeset) UAE has been behind the implementation of a number of unique interiors, including Sphinx Restaurant and the Pyramids Health Club at the prestigious Wafi Centre.
Now, Sobha Group intends to tap into the burgeoning Middle East real estate market, with its own commercial and residential properties.
“We have had a presence in the Middle East market for years, with interiors operations in Qatar and Dubai. But now the time is right to push forward with our real estate expansion plans for this region,” said Ajay Rajendran, Vice Chairman, Sobha Real Estate LLC.
Already, Sobha Group has tasted success in Dubai. The company has two commercial projects under development within the high-status Business Bay district, both of which are already sold out.
The two commercial towers, Ivory I and Ivory II at Business Bay are mirror images of each other, creating yet another unique Sobha landmark. Each tower offers 15 storeys of high-tech office space with world-class construction, stylish design, optimum space usage, ultra-modern amenities, high speed connectivity and retail space.
“Our success with the commercial developments in Business Bay tells us that the Sobha Group name is already making a mark in Dubai. We are confident that our future plans, which will include residential developments in the centrally located Jumeirah Village, will prove equally successful,” Ajay Rajendran said.
The Sobha name is known for luxury, quality and creating a lifestyle. We will bring the same standards of quality and on time completion to our developments in Dubai and the Middle East,” he added.
The Sobha Group expects to have announced a portfolio of over 2 Billion AED by the middle of 2008 which will include another development in Business Bay, some water front properties as well as developments on the Palm Jebel Ali. Sobha Group will be officially launching its first residential project in Dubai during the Cityscape exhibition.
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