Moody's Ratings affirms PNC Investment’s - Sobha Realty - Ba3 CFR

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Upgrades its sukuk rating to Ba2; outlook stable

Press Release

July 21, 2024

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Dubai: PNC Investments LLC (PNCI), the parent company of Dubai-based residential developer Sobha Realty, received an affirmation of Ba3/stable corporate family rating (CFR) from Moody's Ratings, an international rating agency. Additionally, the agency has upgraded the senior unsecured rating of PNCI's sukuk, issued by Sobha Sukuk Limited, from Ba3/stable to Ba2/stable.

Being a renowned and trusted name in the real estate sector, Sobha Group has continuously delivered excellence in the realm of luxury residential and commercial development, reflecting its unwavering commitment to quality, innovation and customer satisfaction. The foremost backward integrated company known in the world with all the key competencies and in-house resources to deliver a project from conceptualization to completion ensuring timely delivery and unmatched quality. In the fast-paced real estate market of Dubai, Sobha Group is poised for unparalleled achievement owing to its strong portfolio of landmark projects and steady expansion.

To read more please find the link to PRL: https://ratings.moodys.com/ratings-news/424962

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