Sorouh PDF  | Print |  E-mail
Sorouh Real Estate was established in June 2005 in the UAE. With USD24.6 billion in undergoing real estate projects (as of year-end 2006), it is one of the region's largest real estate development companies.

Sorouh was developed with the purpose of developing real estate projects in Abu Dhabi with a vision of turning the Emirate into a regional leisure, business and lifestyle destination. Sorouh plans to expand its activities beyond Abu Dhabi and across the rest of the UAE. Sorouh listed its shares on the Abu Dhabi Securities Market in December 2005 and raised USD374 million for 55% of the company's equity.

Some of Sorouh's major developments include the USD272 million Golf Gardens project in Abu Dhabi, which it established in May 2006 in partnership with Tourism Investment and Development Company. Sorouh also gave birth to the USD136 million Aseel Financing Company , which was established in partnership with First Gulf Bank, Aldar Properties and Reem Investments .

Sorouh's key project is the USD13.9 billion Al Reem Island , which is estimated to accommodate 280,000 residents and include amenities like schools, medical clinics, shopping malls, restaurants, a 27-hole golf course, hotels, resorts, spas, gardens, and beaches. Within Al Reem Island 's 6.33 million square meters (68 million square feet) there is the USD6.8 billion Shams Abu Dhabi, which will contain 100 skyscrapers, 22,000 residential units, and 1 million square meter (10.7 million square foot) park. The entrance of the development will be marked by The Gate District, an 8-building development, while other developments in the project include the 83-floor The Sky Tower, the 5 million square foot (465 square meter) Abu Dhabi Towers, and The Upper Village. The first phase of Shams Abu Dhabi's development is scheduled for completion by 2009 and the full project is due for full completion in 2011.

Sorouh also launched The Central Park project in 2007 as an integral part of the Shams Abu Dhabi development, offering 12 mixed-use towers, open space and recreational amenities at a construction cost of USD30 million. Its completion is due end of 2010.

Sorouh did not stop there. It also part in the USD950 million Saraya Abu Dhabi project, which is due for completion in 2013. The 30 towers of Saraya include residential and commercial serviced apartments and a hotel, spread over 125,000 square meters (1.3 million square feet).

Sorouh took a step outside its home country when it announced in December 2006, in partnership with several Abu Dhabi-based companies, the USD2 billion Bab Al Bahr real estate project in Morocco.
 
[ Back ]