Menon of the Sobha Group buys Dubai plot for new 5-star property
Dubai, Sep. 4, 2008
NRI P.N.C. Menon of Sobha Group, headquartered in Bangalore, bought
a plot on a arterial road in Dubai to build the five star hotels.
Ajay Rajendran, Sobha Group vice-chairman said:
- We are thrilled to have secured a prominent plot in the business
zones of Dubai Media and Internet Cities and close to the Mall
of the Emirates and Ski Dubai.
- Sheikh Zayed Road is the landmark business address in Dubai.
- The hotels will be in operation by 2011, with another seven
properties under construction
It was in the year 1995 that Mr. P N C Menon founded Sobha developers
with the clear vision to "transform the way people perceive
quality" in the real estate industry returned home from the
Middle east where he was acclaimed for quality interiors and construction
since 1977. His intuition and business sense buttressed with the
exhilaration of returning to his homeland led him to believe that
he could make Quality the key differentiator between his proposed
venture and other construction companies. Over the intervening years
this vision continues to be the bedrock of all endeavours.
Today Sobha developers a Rs. 12 billion plus company is one of
the largest and only backward integrated company in the construction
arena. Since its inception Sobha's reputation is built on rock solid
values, benchmark quality standards, uncompromising business ethos,
focused customer centric approach, robust engineering, in-house
Research and development and transparency in all spheres of conducting
business, which have contributed in making Sobha a preferred real
estate brand in both residential and commercial segments. This was
emphatically endorsed during its IPO in 2006 when the issue was
oversubscribed by 127 times that created history, being the first
event of its kind in Indian capital markets.
The company has gone from strength to strength completing 18.8
million square feet of area as of September 2007, 42 completed residential/
commercial in house projects, 36 ongoing projects and 104 contractual
projects beginning with the first residential project in Bangalore
An industry leader in Bangalore, Karnataka, contractual projects
have also been constructed in Kerala, Andhra Pradesh, Orissa, Tamil
Nadu, Punjab, Harayana and Maharashtra.
The who’s who of Corporate India form the client list including
stalwarts like Infosys Technologies, Hewlett Packard, dell, the
Taj Group, Mico, Timken and others. Residential projects include
premium apartments, villas and row houses with amenities like club
houses, shopping centres and swimming pools as a value addition
to the Sobha lifestyle that the company brings home to all its clients.