Emerging Markets Business Summer 2016 | Page 55

EMB SOBHA GROUP Sobha’s beginnings are rooted in 1970s Oman. In 1976, the group’s India-born founder, PNC Menon, established an interior design firm in the sultanate under the name Services & Trade Company (STC). Since then, the company— named Sobha after Menon’s wife—has evolved into one of the largest real estate organizations in India and the Middle East. From the outset, Menon focused relentlessly on quality and detail, achieved in large part by controlling the entire value chain. Sobha Group’s Middle East operations are headquartered in Dubai, while the company’s India business, which covers 25 cities across the country, is headquartered in Bangalore. To date, Sobha Group has delivered over 86 million sq. ft., with an annual turnover of over US $1.2 billion and a land holding of approximately 200 million sq. ft. In the Gulf, the company is leading exemplary projects in the UAE, such as Sobha Hartland and the Mohammed Bin Rashid Al Maktoum City – District One. Sobha India has delivered 78 million sq. ft. and currently has 66 projects with 47 million sq. ft. of developable area. EMBreview.org  53