Stock - Sobha
The bonus, distributed on February 1, aims to give staff an extra boost as they enter the new year. Image Credit: Sobha

Dubai: Dubai-based Sobha Realty has awarded a special Dh100 million bonus programme for all its staff, the company announced on Thursday.

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The bonus was awarded to all employees working on non-incentive programmes, covering employees across various departments, explained a statement from the company.

“This move underscores the company’s belief in the collective effort that has played a pivotal role in Sobha Realty’s success,” it said.

Ravi Menon, Co-chairman of Sobha Realty, said: “We extend our heartfelt appreciation to the essential pillars of Sobha Realty—the outstanding individuals who consistently contribute their skills, passion and dedication each day.”

He added, “The special bonus is an expression of our gratitude for the resilience demonstrated by our employees, particularly in the face of challenging times.”

The bonus, distributed on February 1, 2024, aims to give employees an extra boost as they enter the new year. “Sobha Realty acknowledges the pivotal role each employee plays in the company’s growth and success, emphasising its commitment to fostering a positive and motivating work environment,” it added.

Last year, Sobha Realty successfully issued its debut $300 million 5NC3 Sukuk.

The pricing of the issuance, which includes a call feature, the first of its kind for a GCC sub-investment grade benchmark-sized Sukuk, marks a significant achievement for Sobha Realty and the entire industry at large.