North Texas just landed a heavyweight from Dubai. Luxury developer Sobha Realty is rolling out its first U.S. projects in the region, pairing a 330-home community near Celina with a sizable land play in Frisco. The move plants an international flag in the middle of the Dallas-Fort Worth new-home boom, where global builders are lining up for a slice of the action.
Celina plans and lot sizes
On the Celina side, Sobha is planning a neighborhood called Creek Park, a 330-home community near G.A. Moore Parkway and North Louisiana Drive. Lots are expected to run roughly 6,000 to 8,000 square feet, with homes of about 2,600 to 4,000 square feet. It is not starter-home territory.
The developer is also putting together The Reserve, a 34-home estate enclave next to the 220-acre North Sky development. There, lots are reported at roughly 15,000 to 36,000 square feet, with houses anticipated in the 4,000 to 6,000 square foot range, according to The Dallas Morning News.
Frisco land purchase
In Frisco, Sobha has already closed on about 100 acres at the intersection of PGA Parkway and Hillcrest Road, a high-profile corridor in a fast-growing part of the city. The deal stems from the Ratcliffe Family sale, as detailed in a Business Wire release. Davidson Bogel Real Estate represented Sobha in the acquisition.
Timeline and expansion plans
Sobha expects to break ground on its Frisco project in 2027 and is aiming to start work on Creek Park in Celina sooner, according to The Dallas Morning News. The firm told the outlet it will construct model homes for The Reserve and is targeting higher-end and move-up buyers rather than entry-level shoppers.
As reported by The Dallas Morning News, the developer is not stopping with North Texas. Sobha said it is looking at new projects in Austin and Houston as early as next year and has flagged Southlake, Westlake, and Flower Mound as potential future submarkets in the Dallas-Fort Worth area.
What Sobha brings
Sobha Realty is based in Dubai and was founded by P.N.C. Menon. The company leans heavily on what it calls a “backward integration” model, keeping much of its manufacturing and finish work in-house rather than farming out key pieces of the construction process…