The founder and chairman of Sobha Group, PNC Menon, has announced his retirement from his active role as chairman and will hand over the reins of the luxury developer to his son Ravi Menon. The transition of leadership will be effective from November 18, 2024, marking a significant milestone for the $5 billion prime property developer known for its signature residential offerings in Dubai, Muscat, and India. PNC will continue as the founder of the group and will head the group’s new subsidiaries and ventures.
Ravi Menon, who has been serving the group in various capacities since 2004, will take on the role of chairman at a critical juncture as Sobha Group is set to expand its footprint across the US and Australia and diversify its business activities. The group aims to double its turnover to $10 billion over the next five years. PNC, a Forbes-listed billionaire, began his journey with humble origins in India and earned the reputation as ‘The Palace Maker’ in Oman.
Reflecting on the transition, PNC expressed his confidence in Ravi Menon and Francis Alfred’s leadership, stating that he remains committed to supporting Sobha Realty’s ambitions. Ravi, a civil engineering graduate from Purdue University, has played a pivotal role in the success of the Sobha Group over two decades. His promotion to vice chairman in 2006 and subsequent appointments as chairman of Sobha Limited in India and co-chairman of Sobha Group in Dubai highlight his visionary leadership and operational excellence.
Ravi Menon expressed his deep honor in taking on the role of Chairman of Sobha Group, committing to upholding the legacy established under PNC Menon’s leadership. Francis Alfred, managing director of Sobha Realty, praised Ravi’s visionary leadership and commitment to excellence, emphasizing their shared goal of driving innovation and delivering the highest standards of quality to customers. Together, Ravi and Francis aim to build on the strong foundation laid by PNC to solidify Sobha Realty’s position as a global leader in luxury real estate.
The dynamic leadership duo of Ravi Menon and Francis Alfred will work together to steer Sobha Realty toward even greater achievements. With a strong leadership team in place, the company is poised to continue its trajectory of success by leveraging next-generation technologies and innovative business practices to deliver unparalleled value to stakeholders and customers. The transition of leadership marks a new chapter in the history of Sobha Group, with Ravi Menon leading the way towards further growth and innovation in the luxury real estate sector.
