Luxury real estate development starts work at Mangrove Place

Notes and media contacts

About Sorouh Real Estate
Abu Dhabi based Sorouh was established on June 26, 2005 with a capital of AED 2.5 billion. Today it is one of the largest real estate developers listed on the Abu Dhabi Securities Market with a market cap close to AED 9.7 billion. It is one of the most widely held issues with approximately 55,000 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 50 Bn 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 8 towers located at the entrance to Shams, Abu Dhabi. Now architecturally renowned worldwide the AED 11 B 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. The project was awarded to Sorouh by His Highness Sheikh Khlifa Bin Zayed Al Nahyan, President of The United Arab Emirates in March 2006.

Sorouh is also developing 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.

About Luxury Real Estate Development
Luxury Real Estate Development L.L.C. was launched in Abu Dhabi on April 1st 2006. The company was founded to develop well-designed, competitively priced real estate within Abu Dhabi and to maximize its expertise within the emerging Abu Dhabi property market.

Luxury's skills in contracting, construction management, property development and business development combined to create a company that develops high quality, intelligently designed projects, which will contribute to the emerging property market in Abu Dhabi, the U.A.E. and G.C.C.

The Company purchased two prime plots on Al Reem Island, Abu Dhabi, on which it will develop two residential buildings, the first being Mangrove Place and the second release will be Waterside Place. These plots are part of Sorouh's SHAMS Abu Dhabi Masterplan on Reem.

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

Riham El Adl
Account Manager
Hill & Knowlton for Sorouh Real Estate
Tel.: +971 4 3344930 ext 625
Fax: +971 4 334 4923 /33