Staff Report
Dubai, UAE
Dubai-based Sobha Realty has announced the appointment of Ravi Menon as the new chairman after Founder PNC Menon retired from the position. Previously the Co-Chairman of Sobha Group, Ravi Menon will actively serve his new role from November 18, 2024. Under his leadership, Sobha will widen its global portfolio with possible projects in Texas, USA and Western Australia.
An ambitious PNC Menon travelled from India to Oman in 1976 with a meagre amount of seven dollars in his pocket. With 3,000 riyal paid by the local sponmsor, he started his entrepreneurial journey by establishing an interior decoration firm that went on to become a group in the next five decades. Menon earned the title of “The Palace Maker” for the intricate details while designing the Sultan Qaboos Grand Mosque in Oman.
Founded in Bengaluru, India in 1995, Sobha Group has covered 120 million square feet of construction across residential, commercial, and contractual real estate, with a total value of US$1.5 billion. The group currently operates in India, the UK and the UAE, with a prominent project portfolio in Dubai. Led by Ravi Menon as Chairman and Francis Alfred as Managing Director, Sobha Realty aims to triple its current value of US$5 billion in Dubai to US$15 billion from its global expansion. In addition to operations planned in Texas, USA, the developer sees potential growth in Western Australia.
PNC Menon, Founder and Chairman of Sobha Group, said, “Throughout my tenure as Chairman, I have been inspired by our exceptional team’s dedication and creativity, which has propelled the company to new heights. I remain committed to supporting Sobha Realty’s ambitions and am confident that under Ravi Menon and Francis Alfred’s leadership, the company will enter a new era of progress and innovation.”
Ravi Menon has served in various leadership positions of the group in India and the UAE before succeeding his father. Together with Francis Alfred, he will oversee the integration of technology in all aspects of project development, from design and engineering to construction and facilities management. They will spearhead innovation in Sobha by implementing AI, robotics, and prop-tech in their operations.
Ravi Menon, Co-Chairman of Sobha Group, stated, “I am deeply honoured to take on the role of Chairman of Sobha Group. Under PNC Menon’s remarkable leadership, Sobha Realty has become a leading luxury real estate developer in the region, with promising expansion plans globally. I am committed to upholding this legacy and advancing it further to make it the most preferred brand for customers.”
The developer boasts a portfolio of buildings spanning 40 million square feet in the UAE. Its flagship project, Sobha Hartland houses 11,000 residents. It also launched its first project outside Dubai, Sobha Siniya Island in Umm Al Quwain. In all, it has delivered 5,000 homes with another 12,000 under way.
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Also Read:Sobha Realty and UAQ Properties to build Siniya Island in Umm Al Quwain
