Dubai-based developer Sobha Realty has unveiled plans for a $600 million investment in the US housing market, under which it intends to build roughly 700 single-family homes. The company has already acquired 105 hectares of land in the Dallas-Fort Worth metropolitan area of Texas to support the project.
Of that land, 64 hectares are located in the city of Celina and 40 hectares in Frisco, according to details shared by the company. Sobha Realty is also exploring further expansion into other US cities, including Houston, Austin, Nashville and Phoenix, as well as sites in Florida. The developer has separately pursued international projects in Brisbane and the Gold Coast in Australia.
Sales for the first phase of the Celina development are set to begin in 2027, with the overall project planned across five phases over five years. That first phase will comprise 34 homes priced between $1 million and $1.5 million.
Vipin Das, chief executive of Sobha Realty US, explained the choice of location, saying the company is "very well positioned within the corridor of growth, where Frisco, Plano and further growth to Celina is happening." Market drivers cited for the area include a Goldman Sachs campus employing around 5,000 people, a regional headquarters for the New York Stock Exchange, and AT&T's relocation to Plano.
The move reflects a broader push by Dubai-headquartered developers to expand into major international housing markets beyond the UAE and the wider Gulf region.