NRI Menon of the Sobha Group buys Dubai plot for new 5-star property

Dubai, Sep. 4, 2008
Abrar Alvi

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 in 1997.

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.

Gulf NRI P.N.C. Menon, founded the Bangalore-headquartered Sobha Group in 1995. It is a Rs.12 billion company today