Dubai Developer Sobha Realty Announces 100-Acre Frisco Residential Project at PGA Parkway

Project Overview

Sobha Realty has acquired approximately 100 acres of prime land located at the intersection of PGA Parkway and Hillcrest Road in Frisco, Texas, through a completed sale from the Ratcliffe Family in January 2026. The company expects to break ground on the Frisco project in 2027. This project represents Sobha Realty's first U.S. projects in the region, paired with a 330-home community near Celina.

Developer Background

Sobha Group was founded in 1976 by first-generation entrepreneur P.N.C. Menon. In 2003, Menon expanded his entrepreneurial footprint to Dubai. The company began U.S. operations last year (2025). The company leans heavily on what it calls a "backward integration" model, keeping much of its manufacturing and finish work in-house.

Market Context & Demand Drivers

Frisco has undergone explosive population growth since the late 1990s, with a compound annual growth rate of 5.4% over the past decade and ongoing annual growth of approximately 6.9%. The city's population stood at roughly 245,470 in 2026, with a median home value near $735,300. In 2024, the median household income of Frisco households was $150,212.

Demand is being driven by major corporate relocations, including Goldman Sachs's new 5,000-employee campus and the New York Stock Exchange's new regional headquarters in Dallas. Telecommunications major AT&T is shifting its base from Downtown Dallas to Plano, spurring additional housing needs across North Dallas.

The chief executive of Sobha Realty US stated the company is "very well positioned within the corridor of growth, where Frisco, Plano, and further growth to Celina is happening."

Regional Project Portfolio

Sobha Realty is investing $600 million to build approximately 700 single-family homes across Celina and Frisco over five years, with homes to be developed over five phases. The developer has 40 hectares in Frisco. Sales of the first 34 homes in Celina (in The Reserve neighborhood) are expected to begin next year, with prices from $1 million to $1.5 million.

Locality Infrastructure

The property is just minutes from the PGA of America headquarters and the upcoming Universal Kids Resort, the first theme park designed exclusively for young children, slated to open in 2026. Frisco is home to the world headquarters of the Dallas Cowboys (The Star), the national headquarters of the PGA of America (PGA Frisco), and a growing roster of Fortune 500 regional offices.

Collin County is projected to double its population to 2.5 million residents by 2060, and the corridor between Lebanon Road and PGA Parkway has become one of the densest healthcare corridors in North Texas. Frisco Independent School District is the largest school district in Texas to earn an A rating from the Texas Education Agency, a distinction it has held for three consecutive years (2022–23, 2023–24, and 2024–25).

Future Expansion Plans

Sobha plans to expand nationally, targeting Houston, Austin, Nashville, Phoenix and Florida, while also pursuing projects in Brisbane and Gold Coast in Australia. The developer 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.