Sobha Realty has made headlines this week with two key announcements: a $500 million sukuk issuance and the launch of a new brand film for its ONE Sobha App, reinforcing its focus on financial growth and digital innovation.
The sukuk, issued under a $1.5 billion program and maturing in 2029, was oversubscribed three times with demand reaching $1.54 billion. Initially priced at 8.375%, investor interest helped tighten the yield to 8%. Listings will be on both NASDAQ Dubai and the London Stock Exchange.
Chairman Ravi Menon said the strong response reflects confidence in Sobha’s strategy and integrated model. The sukuk follows a Moody’s upgrade of parent company PNC Investments to Ba2/Stable and is expected to be rated Ba2/Stable (Moody’s) and BB/Stable (S&P).
Joint lead managers included ADCB, ADIB, Emirates NBD Capital, J.P. Morgan, and others, with legal and financial support from Clifford Chance, Dentons, and Grant Thornton.
Meanwhile, Sobha debuted a brand film for its ONE Sobha App, created with Tejal Patni and ANC. The app supports residents with features like amenity booking and guest access, and helps buyers with real-time inventory and multilingual services.
In a related update, Sobha revealed a new mega project on Sheikh Zayed Road — a self-sustained, mixed-use community with six towers, green parks, high-street retail, and premium offices.
