Staff Report
Dubai, UAE
Dubai-based property developer Sobha Realty has signed a multi-year sponsorship deal with Arsenal to become its Official Global Real Estate Partner. Sobha Realty is the first private real estate developer in the UAE to sign up such a high-profile sponsorship deal with a European football club.
Ravi Menon, Co-Chairman of Sobha Realty, said, “”Sobha Realty is delighted to be embarking on this exciting journey as Arsenal Official Global Real Estate Partner. Our collaboration with the globally recognised football institution is a coming together of shared values of both organizations as the‘ art of the detail’ meets the ‘art of football’.
“It demonstrates our unwavering commitment to the highest standards, driving sustainable economic growth, and access to international markets and talent. Having reached a significant milestone with this collaboration, we look forward to a successful and lasting future with Arsenal.”
The deal comes following strong sales revenue driving Sobha Realty’s development activities and comes a few months after it successfully raised US$300 million (Dh1.1 billion) through a Sukuk issuance.
“As part of this partnership, Sobha Realty’s presence will be at all men’s and women’s domestic games played at Emirates Stadium. It will also see Arsenal and Sobha Realty collaborate on initiatives to develop the sport industry in Dubai and beyond. This includes hosting football experiences, including youth football clinics, tournaments, and seminars,” an Arsenal football club spokesperson said.
Sobha Realty will also gain naming rights to The WM Club – a premium match-day hospitality suite at Emirates Stadium – which will now be known as ‘The WM Club, Presented by Sobha Realty.’
Juliet Slot, chief commercial officer of Arsenal Football Club, said, “This is our first Official Global Real Estate Partner, a further sign of our commercial strength, and ability to continue attracting new partners from a diverse field of industries and backgrounds. We look forward to working with Sobha Realty in the years ahead and supporting its growth as a brand across the world.”
The Premier League club said the partnership will see Arsenal and Sobha Realty collaborate on initiatives to develop the sports industry in Dubai and beyond. This includes hosting football experiences, including youth football clinics, tournaments, and seminars.
“We have seen a heightened interest in Dubai Real Estate from UK consumers and with this partnership with Arsenal, we look forward to strengthening our brand in the UK and surrounding markets,” Francis Alfred, managing director of Sobha Realty.
The two entities said they look forward to collaborating on projects to demonstrate their collective pursuit of progress over the coming years.
Sobha Realty’s growth prospects
Meanwhile, Sobha Realty is mainly active in Dubai’s real estate market, where it had an 8 per cent market share in the first half of the year, according to a presentation on its website.
Founded in 1976 as an interior design business in Oman, the developer has established a global presence with developments and investments in the UAE, Oman, Bahrain, Brunei and India. It reported a 129 per cent year-on-year (YoY) sales growth to Dh7.4 billion in H1 2023. The property developer’s revenues jumped 20 per cent YoY to Dh3.2 billion while its earnings before interest, taxes, depreciation, and amortisation (EBITDA) rose by 19 per cent to Dh0.7bn, with a strong revenue backlog of more than Dh11 billion.
Ends
