“PNC Menon, Sobha Group’s Visionary Founder and Chairman, on Building a Unique Business Legacy for Tomorrow”
PNC Menon, the founder and chairman of Sobha Group, reflects on his business philosophy and outlines the future trajectory for his multi-billion-dollar enterprise. Renowned for shaping the Middle East construction sector over five decades, Menon’s unique backward-integrated business model has propelled Sobha Group to unparalleled success, earning it recognition at Harvard Business School. With a focus on controlling contracting, manufacturing, and design processes, the company achieves exceptional standards in cost, quality, and time management, often delivering projects ahead of schedule.
Menon’s meticulous approach to business has driven Sobha Group’s remarkable growth, with projected annual sales reaching $4 billion in the current year and an anticipated $5 billion in 2024. Uncompromising in his pursuit of perfection, Menon attributes the company’s success to maintaining the highest standards in every aspect of its operations.
Having called the GCC region home for nearly five decades, Menon views Dubai as an ideal business environment. However, Sobha Group’s future aspirations extend beyond regional borders, with the United States representing a significant growth opportunity. As Menon envisions the future, he emphasizes the importance of having the right team in place. His son, Ravi Menon, and Sobha Realty’s managing director, Francis Alfred, form a crucial part of the leadership team.
Despite Sobha Group’s impressive journey, Menon acknowledges the challenges faced during the 2009 recession. Drawing from this experience, he emphasizes the cyclical nature of the real estate industry and underscores the importance of maintaining a robust equity base.
Looking forward, Menon envisions a future for Sobha Group that embraces advanced technology, innovation, and pioneering efforts in robotics and artificial intelligence (AI). The company is already making strides in this direction, setting up an office with robotics and AI engineers. Menon sees this integration as a strategic move to stay ahead in the industry and views it as a challenge for the next generation, particularly his son.
In Menon’s perspective, the past is behind, and the future holds the key to continued success and innovation for Sobha Group.
