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On May 22 2005, Sorouh Real Estate began with a clear vision to provide
communities with life in perfect balance to its shareholders, investors
and stakeholders. The company has come a long way in such a short time
with various large and outstanding projects launched, completed or
underway. An IPO commenced and AED 2.5Bn worth of shares was issued. September 13, 2005 was the official launch of Sorouh Real Estate and Shams Abu Dhabi. On December 20 2005, the Company started trading on the Abu Dhabi Securities market. The 'Highly Prestigious Project' to develop Lulu Island was awarded to Sorouh on March 7 2006 after a competition with other leading developers. Lulu Island by virtue of its position at the end of Abu Dhabi Island facing the Corniche is the most important development for Abu Dhabi and will have a powerful bearing on the future of the city. On May 2006, Sorouh launched the Sky Tower at Shams Abu Dhabi, a premium commercial and residential project which at 74 stories will rise to 300 metres in height when completed. On May 21 2006, Sorouh launched The Golf Gardens project, Abu Dhabi's first premium Golf Course estate which is a AED 1.6 Bn project overlooking the Abu Dhabi Golf Club. In July 2006, 150 Al Khalidiya Village rental villas were completed and is now running at 100% occupancy. Sorouh Real Estate and Tameer Holding entered into a strategic partnership on September 20 2006 when they signed a Memorandum of Understanding (MOU) to establish a joint venture company to develop six towers of the Gate District at Shams Abu Dhabi. November 19, 2006 Tala Tower project was launched followed by the launch of Saraya development on December 4 2006. Central Park at Shams Abu Dhabi was launched on December 21 2006. Phase 1 of Sas Al Nakhl residential development was completed on May 6 2007. |