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Power 60 2019

#16 PNC Menon, Founder and Chairman of Sobha


The annual list of the Middle East’s Top 60 most prominent contractors, real estate developers, consultants, facilities management companies features more than 11 new entries from across the region, putting in the spotlight the current improving outlook of the sector. These new entries have altered the entire corporate dynamics of the Power Hour 2019.

 

16. PNC Menon, Founder and Chairman of Sobha

In line with their mandate, Sobha Realty looks at delivering exceptional products and services like no other to their clients and all operating markets. This vision has helped Sobha to successfully expand the Group across all their subsidiaries, and now has a presence in 24 cities and 13 states across the subcontinent.

For the Dubai market, Sobha Realty has worked towards the success of two iconic projects – Sobha Hartland, which is a US$4 billion mixed-use luxury development and District One, which is a US$ 8 billion joint venture with Meydan Group. As one of the foremost backward-integrated real estate organisations in the region, these projects are led by the guiding principal of simplicity of design and the generosity of space.

PNC Menon said: “During the period under review, we have successfully completed the on-time delivery of several projects within Sobha Hartland.  Sobha Realty is a trusted name in real estate, as we deliver projects on time, creating spaces that shape human lives and redefine urban communities.”

Several phases of Sobha Hartland have been completed to date, including Phase 1 of Hartland Greens Apartments, a 167-unit development comprising six retail shops. The master-plan is currently on schedule, with main infrastructure works – being carried out by Sobha Hartland Contracting’s infrastructure division – 83% complete.

“We have seen a huge success along with a strong track of directing large scale and complex mixed-use real estate developments from inception to completion. On a personal level, I have always envisioned myself in the real estate industry. Marking almost five decades in the building industry, it has been an exploratory experience for myself and for the creation of Sobha Realty,” said PNC Menon.

Currently, Sobha are third-largest real estate development company India in terms of total square feet delivered and the world’s only backward-integrated real estate development company.

“The journey is never-ending, and we anticipate and look forward to many more accomplishments in the coming future,” PNC Menon concluded.

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