Moody's Ratings upgrades PNC Investments CFR to Ba2
This upgrade reflects PNCI's continued strong sales, robust construction activity, and significant improvement in credit metrics. In 2024, revenue rose to Dh8.9 billion from Dh6.5 billion in the previous year. Moody's-adjusted debt to EBITDA improved to 1.7x from 2.7x in 2024 and is expected to further strengthen to 0.9x in 2025.
As the second largest privately held residential developer in Dubai by sales, Sobha Realty continues to demonstrate the strength of its Backward Integration Model, allowing full control from design to delivery. This, coupled with a strong backlog of more than Dh23 billion, positions the company to navigate evolving market dynamics effectively while delivering on its commitment to excellence and timely project delivery.
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ME Construction
10 hours ago
- ME Construction
Sobha Realty announces the Sobha Privy Collection and launches ‘The S'
Property Sobha Realty announces the Sobha Privy Collection and launches 'The S' By The new tower is envisioned as an equilateral triangle sculpted at the apex of the district's canal arc Sobha Realty has unveiled its Sobha Privy Collection brand, which is said to encompass a new era of ultra-luxury living that embodies the design philosophy – The Art of Sublime. Sobha Privy Collection is characterised by seven fundamental principles – expansive living spaces, iconic addresses, unparalleled finesse, exceptional service, exclusive amenities, extraordinary privacy, and a distinct quality that elevates each home above the rest, said a statement. Marking the launch of the new brand, the developer has unveiled a new ultra-luxury development, 'The S' at Sobha Hartland II. According to the firm, this architectural landmark, the final and tallest reveal within the masterplan, is inspired by the 'The S' on Sheikh Zayed Road. The new tower is envisioned as an equilateral triangle sculpted at the apex of the district's canal arc, providing breathtaking 270-degree panoramic views across Downtown Dubai, the central lagoon, and beyond, the firm said in a statement. Ravi Menon, Chairman of Sobha Group said, 'Sobha Privy Collection reflects our pursuit of purity in design and perfection in detail. With 'The S' at Sobha Hartland II, we are presenting residences that speak the language of grandeur, stillness, elegance, and enduring value for those who resonate with the extraordinary.' Loai Al Fakir, CEO of Provident Real Estate added, ''The S' wasn't just another development; it was a project that demanded attention. From the design to the delivery, Sobha Realty brought something truly refined to the table, and we knew right away it was worth backing. Being part of its success wasn't just exciting; it reaffirmed why we do what we do.' Extending beyond a single address, Sobha Privy Collection comprises a selection of residences across the developer's projects, including the mansions and villas at Sobha Hartland II Estates, duplexes and Penthouses at SeaHaven, The S – Sheikh Zayed Road, and now, 'The S' at Sobha Hartland II. Each home is shaped with layouts, locations, personalised details, and a quiet focus on privacy, coming together to reflect the care and craft that define the Sobha way, the developer explained. Huimin Wang, Managing Director of Fastway Real Estate commented, 'When Sobha Realty introduced The S on Sheikh Zayed Road, it represented a bold vision of luxury; brought to life with unmatched precision and craftsmanship. Now, as it reaches completion, it stands as a testament to that promise and to everyone who believed in it from the very beginning.' Residences begin from the eighth floor upward, preserving uninterrupted vistas and heightened privacy. The S is a 71-storey tower with just two expansive, villa-scale residences per floor. The design features a floor-to-floor height of four metres with a clear unobstructed glazing expanse, intuitive spatial separation, panoramic master suites, private terraces, and spa-inspired bathrooms bathed in natural light, the statement outlined. At The S, residents experience luxury from the moment they arrive, with a stunning triple-height grand lobby, and concierge and valet services. Every element is shaped by Sobha's hallmark: an obsessive attention to detail refined over decades of craftsmanship. Designed for the global connoisseur, Sobha Privy Collection presents homes as rare and considered, as the lives they are meant to reflect, it added. The S, the final chapter in the Sobha Hartland II story, pays homage to Sobha's legacy while forging a new path. Offering experience of space, tranquility, and refined living. With future additions planned across waterfronts, islands, and skyline-defining destinations, Sobha Privy Collection continues to redefine the modern concept of prestige, rooted in timeless principles of clarity, craftsmanship, and The Art of Sublime, it concluded.
Khaleej Times
a day ago
- Khaleej Times
Sobha unveils ‘The S' tower at Sobha Hartland II in Dubai
Sobha Realty, a leading Dubai-based developer, has unveiled its latest ultra-luxury development, The S at Sobha Hartland II. This launch also marks the debut of the developer's newly introduced Sobha Privy Collection, a curated portfolio of ultra-premium residences designed for global connoisseurs of bespoke living. Positioned as the tallest and final tower within the Sobha Hartland II masterplan, The S represents a striking architectural statement. With a unique equilateral triangular structure sculpted along the arc of a central canal, the tower offers residents 270-degree views of Downtown Dubai, the lagoon, and the surrounding skyline. Each floor comprises just two villa-scale residences, starting from the eighth floor, to maximize privacy and views. At 71 storeys, The S reinforces Sobha's design ethos: understated opulence. Each unit features a 4-metre floor-to-floor height, private terraces, spa-style bathrooms filled with natural light, and unobstructed glazing for panoramic vistas. Residents are greeted by a triple-height lobby and supported by dedicated concierge and valet services. The launch of the Privy Collection signals Sobha Realty's deeper foray into elite real estate, moving beyond traditional luxury into a refined realm of immersive design and personalisation. The collection also includes signature homes across Sobha's top developments, such as mansions and villas at Hartland II Estates, penthouses at SeaHaven, and residences at The S on Sheikh Zayed Road. Ravi Menon, chairman of Sobha Group, described the launch as 'a reflection of our pursuit of purity in design and perfection in detail.' Menon noted that as Dubai continues to attract high-net-worth individuals from across the globe, Sobha's Privy Collection aims to set a new benchmark in luxury real estate, offering not just homes, but curated experiences shaped by clarity, craft, and calm — a concept it calls The Art of Sublime. Industry leaders echoed this sentiment. Loai Al Fakir, CEO of Provident Real Estate, called The S 'a project that demanded attention and delivered refinement,' while Huimin Wang of Fastway Real Estate said the tower is 'a bold vision of luxury brought to life.' Industry analysts note that Sobha Realty is fast emerging as a top-tier luxury brand in Dubai's real estate landscape. With global investors increasingly seeking residences that blend design excellence, privacy, and long-term value, Sobha's commitment to end-to-end quality — from sourcing materials to in-house construction — positions it uniquely in a crowded premium market.
Khaleej Times
3 days ago
- Khaleej Times
Sobha Privy collection redefines luxury living amid Dubai's HNWI influx
Dubai's rise as a magnet for millionaires is reshaping the city's real estate narrative. According to Henley & Partners, the UAE is projected to welcome the highest number of high-net-worth individuals globally in 2025, with around 9,800 millionaires expected to relocate. This influx is accelerating demand for residences that offer more than luxury; homes that reflect stature, legacy, design excellence, and a transformed living. Leading this evolution is Sobha Realty, the global luxury developer renowned for its 'Art of The Detail' philosophy. With the Sobha Privy Collection, the company presents an ode to the 'Art of Sublime' living, crafted for those who seek the exceptional. Described by Ravi Menon, chairman of Sobha Group, 'It's a reflection of our pursuit of purity in design and perfection in detail. We are presenting residences that speak the language of grandeur, stillness, elegance, and enduring value for those who resonate with the extraordinary.' The collection includes signature residences across Sobha's flagship developments. These feature the grand villas and mansions at Sobha Hartland II Estates, sky-mansion penthouses at Sobha SeaHaven, and the iconic 'The S' on Sheikh Zayed Road. The newly launched The S at Sobha Hartland II, inspired by 'The S' on Sheikh Zayed Road, is the tallest tower in the award-winning community and the latest addition to Sobha Privy Collection. With its bold equilateral-triangle form and 270-degree Downtown views, each residence features 4-meter floor-to-floor height and unobstructed glazing expanse that amplifies space, light and views. According to Loai Al Fakir, CEO of Provident Real Estate, who previewed 'The S': ''The S' wasn't just another development; it was a project that demanded attention. From the design to the delivery, Sobha Realty brought something truly refined to the table, and we knew right away it was worth backing. Being part of its success wasn't just exciting; it reaffirmed why we do what we do.' While Huimin Wang, managing director of Fastway Real Estate, said: 'When Sobha Realty introduced 'The S' on Sheikh Zayed Road, it represented a bold vision of luxury; brought to life with unmatched precision and craftsmanship. Now, as it reaches completion, it stands as a testament to that promise and to everyone who believed in it from the very beginning.' As Dubai continues to magnetise the world's ultra-wealthy, Sobha Privy Collection reflects not just the city's growth, but its transformation into a true global capital of refined living.
