TEXAS, USA - Sobha Realty is planning a $600 million investment in about 700 homes in Texas, with developments in Celina and Frisco forming the basis of a wider expansion across the US. The Dubai developer has acquired approximately 105 hectares in the two cities within the Dallas-Fort Worth metropolitan area. It intends to build single-family homes in five phases over the next five years, having established its US operations in 2025. Vipin Das, chief executive of Sobha Realty US, told The National that sales of the first 34 homes in Celina are expected to open in 2027. Prices will range from $1 million to $1.5 million.
Financing secured for first projects
Sobha will fund the developments through a combination of its own equity and local borrowing. “Last week we got the first development loan approved for our first two projects from Bank7 and CCB, so that's good news for us,” Das said The company’s land holdings include 64 hectares in Celina and another 40 hectares in Frisco. Das said the developments would serve residents and corporate employees, including families seeking larger homes. “In Frisco there is a lot of Asian community living and in Celina it’s a kind of healthy mix, with people wanting more space as they upgrade their life and move into a bigger space … a move-up home or second move-up home for a bigger family,” he said.
Corporate expansion supports North Dallas demand
New corporate offices are among the factors supporting housing demand in the area, according to the report. These include a Goldman Sachs campus planned to accommodate 5,000 employees and the New York Stock Exchange’s regional headquarters in Dallas.
AT&T’s move from Downtown Dallas to Plano is also contributing to demand for homes further north. “The trend we are seeing towards the north is growing. We are very well positioned within the corridor of growth, where Frisco, Plano and … further growth to Celina is happening.” Across Texas, completed home sales increased 8.6 per cent year on year to 34,956 in June 2026, according to the Texas Real Estate Research Center’s August report. The statewide median sales price was $342,900.
Houston and Austin among expansion targets
Sobha is considering additional US markets as it works towards what Das described as a “national presence”. Houston, Austin, Nashville, Phoenix and locations in Florida are among the areas under consideration. “We are seriously exploring Houston. We are very seriously exploring Austin.” The developer is also pursuing projects in Australia, where it has acquired land in Brisbane and the Gold Coast. Das said construction is expected to start in 2027 following the approval process, although he did not provide further project details.
International plans accompany UAE growth
Founded by PNC Menon, whose business career began with an interior decorating company in Oman in the 1970s, Sobha has developments across Dubai, Abu Dhabi and Umm Al Quwain. The company reported sales of AED 30 billion in 2025, an annual increase of 30 per cent, supported by its projects in Dubai and Umm Al Quwain. In January 2026, Sobha unveiled a development valued at AED 50 billion in Dubai. It subsequently entered Abu Dhabi’s residential market with the launch of an AED 40 billion ($10.9 billion) project.
