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Otis and Sobha Realty Continue to Elevate Luxury Living in Dubai

1. Otis will install 76 elevators for the Riverside Crescent project. 2. The project features 6 high-rise towers with luxury amenities in Dubai. 3. Elevators will include advanced technology to enhance user experience. 4. Otis has a longstanding commitment to safety and innovation in the UAE. 5. Sobha Realty prioritizes quality and safety in their development projects.

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FAQ

Why Bullish?

The contract with Sobha Realty strengthens Otis’s position in a lucrative market. Successful project completion can lead to a reputation boost and more contracts.

How important is it?

This project will likely bolster sales and strengthen Otis's market position in a growing sector.

Why Long Term?

Establishing Otis as a trusted partner in high-end projects can open doors for future developments, positively affecting revenue streams over time.

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SOBHAEMEAJLL
, /PRNewswire/ -- Otis Worldwide Corporation (NYSE: OTIS), the world's leading elevator and escalator manufacturing, installation and service company, will provide and install 76 elevators at the Riverside Crescent project by Sobha Realty - a leading global luxury real estate developer.Otis will install advanced elevator systems including 50 Otis Skyrise®, 12 Otis Arise™ and 14 machine-roomless Otis Gen2® elevators to enhance the living experience for tenants. From left: Suraj Gopinathan, Assistant Vice President Senior Manager, Sobha Realty; Diwakar Kheterpal, Director Group Procurement Sobha Realty; Ehtesham Ahmed, Otis Middle East (ME) Sales & Marketing Dir.; Mohammed Al Qaisi, Otis ME Leader; Varughese Mathew, Chief Operating Officer, Sobha Realty; João Penedo, Otis Senior VP for Iberia, Africa & Middle East (IBAME); Javier Barquin, Otis Field Lead; Ramon Sendra, Otis Sales Lead; Mohamed Haidara, Otis UAE Sr Sales Mgr; Alphin Aloor, Otis Analytics Sobha Realty Riverside Crescent. Located in Sobha Hartland II, the project will redefine luxury living in Dubai, offering unparalleled views and amenities. Within the first phase of the project, which features 6 high-rise residential towers reaching 71 stories and 249 meters in height, the elevators will move at speeds up to 6 m/second and come equipped with EMS Panorama™ 2.0, providing a new dimension of control and visibility for facility teams to monitor and manage operation-critical functions.Varughese Mathew, Chief Operating Officer of Sobha said: "At Sobha Realty, we always prioritise safety and quality in every aspect of project development. At Riverside Crescent, we want to ensure safe, smooth and efficient vertical mobility for all our residents and visitors. Our collaboration with Otis reflects a shared commitment to innovation and reliability, which helps us achieve our goals and meet our high standards."João Penedo, Otis Senior Vice President for Iberia, Africa and Middle East said: "Otis has proudly served the United Arab Emirates for more than 50 years. Our commitment to safety, innovation, and quality aligns perfectly with Sobha Realty's vision for Riverside Crescent. Our history of successful collaboration reflects our mutual dedication to delivering exceptional solutions and meeting the high expectations of our customers. We look forward to enhancing the Riverside Crescent experience with our advanced elevator technology."About Sobha RealtyHeadquartered in Dubai, Sobha Realty is a leading backward-integrated real estate developer and construction company, renowned for redefining quality benchmarks in the industry. With over 50 plus years of excellence, Sobha has delivered meticulously crafted residential and commercial spaces across the Middle East. Driven by innovation and integrity, Sobha continues to set new standards in construction, building a legacy of trust, craftsmanship, and sustainable development. For more information, please visit Sobha Realty.About OtisOtis gives people freedom to connect and thrive in a taller, faster, smarter world. The global leader in the manufacture, installation and servicing of elevators and escalators, we move 2.4 billion people a day and maintain approximately 2.4 million customer units worldwide – the industry's largest Service portfolio. You'll find us in the world's most iconic structures, as well as residential and commercial buildings, transportation hubs and everywhere people are on the move. Headquartered in Connecticut, USA, Otis is 72,000 people strong, including 44,000 field professionals, all committed to manufacturing, installing and maintaining products to meet the diverse needs of our customers and passengers in more than 200 countries and territories. To learn more, visit www.otis.com and follow us on LinkedIn, Instagram and Facebook @OtisElevatorCo.Media Contacts: Otis: İpek Akyıldız: [email protected]Sobha Realty: [email protected]SOURCE Otis Worldwide Corporation WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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