Latest news with #USExpansion
Arabian Business
28-05-2025
- Business
- Arabian Business
EXCLUSIVE: Dubai real estate giant Sobha Realty eyes 3 Texas cities for major U.S. expansion
Dubai-headquartered luxury property developer Sobha Realty has revealed more of its plans to expand into the United States market, with Texas cities forming the 'cornerstone' of its international growth strategy. The company, which has operated in the UAE since 2013, will focus on Dallas, Houston, and Austin for its U.S. debut. In an exclusive interview with Arabian Business, Ravi Menon — Chairman of Sobha Group — cited the cities' rapid population growth, strong economic fundamentals, and demand for luxury residential developments as key factors in the decision. UAE property giant Sobha Realty to enter $2 trillion U.S. real estate market 'Expanding into the U.S. market has always been part of Sobha Realty's long-term vision and strategic roadmap,' Menon said, citing that the U.S. real estate market sales is expected to reach a staggering $1.9-2.0 trillion by 2025 according to Goldman Sachs forecast. 'It represents one of the most robust and diverse investment landscapes globally and offers substantial potential for growth and brand positioning, exciting opportunities that we are eager to explore,' he added. The expansion comes after Sobha Realty recorded record-breaking sales in 2024. The company has not disclosed the investment amount for its U.S. operations, though Menon emphasised the market's alignment with company values. 'With a thriving demand for luxury residential properties, especially among HNWIs seeking quality and reliability, the U.S. aligns perfectly with the company's commitment to 'Art of The Detail,' craftsmanship, and exceptional living standards,' he explained. Sobha Realty plans to leverage its 'Backward Integration' model in the U.S. market, which involves in-house management of the entire development cycle from concept to completion. The approach includes internal manufacturing of components, allowing the company to maintain quality control throughout the construction process. 'This level of control allows us to ensure consistency, precision, and superior quality across every element of our projects. Very few developers in the U.S. market currently adopt this model, which means we are ready to bring something truly different and exciting to the market,' the chairman said. He further highlighted the manufacturing element as particularly significant, with what truly sets Sobha Realty apart is their in-house manufacturing. 'By manufacturing critical components internally, Sobha Realty guarantees lasting quality, resulting in developments that stand the test of time,' Menon said, adding that the model also enables faster delivery times. 'This comprehensive control not only ensures quality but also accelerates the construction timeline. This means quicker delivery and a timely handover, giving you the assurance that your Sobha home will be ready when you need it,' Menon added. In addition, Sobha Realty's competitive positioning in the U.S. market will draw on its international experience, he said. 'Sobha Realty will enter the U.S. market as a seasoned international brand with a proven track record in some of the world's most competitive real estate environments. 'The experience in the UAE, which is one of the most diverse and dynamic markets globally, has equipped Sobha Realty with deep insights into the preferences of international buyers and the ability to deliver unmatched quality on a scale,' Menon explained. U.S. 'perfect platform' for Sobha Realty's positioning as global luxury brand The company believes its integrated approach will differentiate it from competitors. 'Very few developers in the U.S. market currently adopt this model, which means we are ready to bring something truly different and exciting to the market,' Menon said. 'We firmly believe that the U.S. market is ready for a brand that combines international excellence, attention to detail, and end-to-end control in real estate development.' To boost its U.S. operations, the company will further combine global expertise with local talent. 'We will continue to harness the expertise of our globally trained teams, including our in-house pool of more than 350 architects who are dedicated to design precision and high-quality craftsmanship,' Menon said, adding that local integration remains a priority. 'At the same time, we deeply grasp the significance of local insight and community integration. As we venture into the U.S., we will actively seek local talent across various functions. This approach ensures that we don't just enter the market but become an integral part of it,' he explained. So far in the UAE, Sobha Realty has built a reputation through developments including Sobha Hartland, Menon said, attributing the company's success to multiple factors. 'Since our inception in the UAE market in 2013, Sobha Realty has consistently set benchmarks in luxury real estate. Our developments, such as Sobha Hartland, have not only transformed skylines but also redefined community living,' he said. 'This legacy of excellence has not only fostered trust and recognition among our clientele but also significantly influenced the UAE's real estate landscape, positioning us as one of the preferred developers in the region,' Menon explained, adding that the company plans to sustain momentum by aligning with government initiatives. 'Our priorities align closely with key government initiatives and policies, especially those aimed at sustainable growth, innovation, and high-quality urban development,' Menon concluded, adding that the company will 'continue to synchronise' its strategy in line with Dubai's 2040 Urban Master Plan and UAE sustainability objectives.
Reuters
15-05-2025
- Business
- Reuters
Pirelli's Chinese investor rejected 'unfair' proposal but open to collaborate
MILAN, May 15 (Reuters) - A leading Chinese investor in Italian tyre maker Pirelli said on Thursday a proposal the company had put forward to solve problems that having a Chinese shareholder pose for its U.S. expansion plans were "seriously unfair". Without providing details on the proposal, Pirelli said Wednesday its Chinese shareholder Sinochem had rejected it. "The proposal was rejected by us because (it is) potentially disruptive for Pirelli and overall seriously unfair and unbalanced for all Pirelli shareholders ... other than Camfin," Marco Polo International Italy, the vehicle through which Sinochem invests in Pirelli, said in a statement. The statement reiterated Sinochem's "firm support for the long-term sustainable development of Pirelli" saying it would continue to work with its shareholders, management and the relevant authorities to help its growth and development.
Yahoo
10-05-2025
- Business
- Yahoo
Urban Revivo Founder Leo Li on Tariff Impacts, US Expansion
Chinese apparel brand Urban Revivo will continue its US expansion despite the tariffs against China hit its margins. Founder and CEO Leo Li says the company hasn't raised retail prices as it still has big room to bear the tariff burdens as China's supply chain is still competitive in the US and Europe. Li spoke exclusively with Bloomberg TV's Minmin Low. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
09-05-2025
- Business
- Bloomberg
Urban Revivo Founder Leo Li on Tariff Impacts, US Expansion
Chinese apparel brand Urban Revivo will continue its US expansion despite the tariffs against China hit its margins. Founder and CEO Leo Li says the company hasn't raised retail prices as it still has big room to bear the tariff burdens as China's supply chain is still competitive in the US and Europe. Li spoke exclusively with Bloomberg TV's Minmin Low. (Source: Bloomberg)
