The event was attended by Mr. Talib Mustafa Khan, president of the Iraqi Business Council and Mr. Abadi Arakn, vice president of the Iraqi Business Council, in addition to other council members, while Sorouh was represented by Mr. Anthony Abu Hamad, Executive Director of Asset management and a team of top executives.
The event included a detailed presentation on the Shams Abu Dhabi Project and the Sky Tower project at the Gate District of Shams Abu Dhabi.
The presentations were received with enthusiasm as the audience showed great interest in the investment opportunities offered by Sorouh, especially as these projects coincide with a wide-scale real estate boom taking place in the United Arab Emirates in general and the Abu Dhabi Emirate in particular.
Shams Abu Dhabi development comes as a natural extension to Abu Dhabi CBD. The project is located on Reem Island, 300 meters from the northeastern shore of Abu Dhabi city. It will occupy an area of over 1.560 million square meters, accounting for about 25 percent of Reem Island. Residential projects will occupy 80 percent of the overall project while the remaining 20 percent will be dedicated for commercial use and recreational facilities.
SHAMS Abu Dhabi will be home for about 60,000 people. Sorouh has said that SHAMS Abu Dhabi is designed to deliver on its corporate promise of "Life in Perfect Balance". It offers residents a living and working environment that promotes an overall sense of well-being - by providing for their physical, intellectual, spiritual and social needs.
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Sorouh meets with Iraqi Business Council
- United Arab Emirates: Sunday, April 08 - 2007 at 09:47
- PRESS RELEASE
In line with its policy to facilitate continuous communication with investors, agents and all business and community entities, Sorouh Real Estate hosted a dinner for a delegation from the Iraqi Business Council, where the company introduced the audience to the latest projects it is undertaking in the Emirate of Abu Dhabi.
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Notes and media contacts
About Sorouh Real EstateSorouh Real Estate is the leading real estate development company in Abu Dhabi.
Sorouh was established on June 26, 2005 with a capital of AED 2.5 billion.. Today it is the largest Abu Dhabi based, real estate developer listed on the Abu Dhabi Securities Market with a market cap close to AED 5.75 billion and is one of the most widely held issues with approximately 65,000 shareholders.
Sorouh's corporate vision is to "bring communities to life in perfect balance". Its real estate projects are master-planned and designed to meet the four core needs of human wellbeing: physical, intellectual, social and spiritual. SOROUH employs in excess of 120 highly qualified professionals operating in the field of master-planning and master-development.
Sorouh's now has around AED 50Bn of projects under development. These include:
Shams Abu Dhabi, Sorouh's flagship project is an AED 25Bn landmark development on Reem island. A complete new city of 60,000, Shams Abu Dhabi will be self sustaining city of Canals and Parks which integrates world-class master planning practices and extends the lush green of Abu Dhabi's landscape.
The Gate District on Shams Abu Dhabi is a cluster of 6 towers located at the entrance to Shams, Abu Dhabi. Now architecturally renowned worldwide the AED 11Bn residential, office and retail development is designed as a Gateway to the Peninsula from Reem Island. The Gate District also includes the AD 2.2Bn 74 storey Sky Tower which will be a pinnacle of luxury for its residential and commercial occupants as well as Abu Dhabi's tallest building when completed.
Lulu Island opposite the Abu Dhabi Corniche will be the City's most prestigious and sought after district. Housing 45 - 50,000 residents 85% of whom will have sea views this AED 14.5Bn development will be one of the most beautiful places in the entire region.
Sorouh has also the Golf Gardens overlooking the Abu Dhabi Championship Course, the Abu Dhabi Aviation Authority residential project, Al-Shamkha national housing project, the Tala Tower and Saraya on the Abu Dhabi Corniche. In its first venture outside the UAE Sorouh will also be involved in developing the 7,000,000 m Sq ft Bab Al-Bahr project in Morocco.
For more information please contact:
Ahmed El Awad
Assistant Communications Manager
Sorouh Real Estate P.J.S.C.
Tel: +971 2 444 0006
Fax: +971 2 444 0066
Or
Riham El Adl
Account Manager
Hill & Knowlton
Tel.: +971 4 3344930 ext 625
Fax: +971 4 334 4923 /33
Posted by Anne-Birte Stensgaard, Senior News EditorSunday, April 08 - 2007 at 09:47 UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of AME Info FZ LLC / Emap Limited.
This article was updated on Tue May 01 2007.
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