Sobha Realty buys maiden Australian sites
UAE developer Sobha Realty has acquired residential development sites in Brisbane and on the Gold Coast as it prepares to enter the Australian housing market.
The group, founded by Indian billionaire PNC Menon, appointed Rajeev Ramprakash earlier this year to lead its Australian expansion.
Its Brisbane site is in Fortitude Valley, where Sobha plans to lodge a development application within a month.
Construction is expected to begin in mid-2027, subject to approvals.
The company has also acquired a residential development site on the Gold Coast (continues below).
Construction there is also expected to start mid-next year.
Addresses, purchase prices and planned dwelling numbers haven’t been revealed.
Sobha is also assessing opportunities in Sydney, including apartment and house-and-land projects.
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