UAE –  Sobha Realty, a real estate developer based in Dubai, has raised its sales target by 50% to $1.60 billion for 2022.

The set target comes in line with the growing demand among investors in the real estate market, according to a press release on Tuesday.

Besides the UAE, the property developer has foreign clients from India, China, Russia, the UK, and Nigeria.

Managing Director of Sobha Realty, Francis Alfred, said: “As one of the leading real estate developers in the UAE, we are delighted to serve such a large global clientele. Their trust is an indication of their confidence in our luxury properties, as well as our commitment to delivering the highest standards of quality and design.”

Sobha Realty intends to commence work on a development worth $4 billion during the third quarter (Q3) of 2022, to meet the growing investor demand.

In 2019, the Banker Middle East had reported that the real estate developer would file for an initial public offering (IPO) this year.

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