• HSBC

Sorouh announces infrastructure shortlist for AED3.5bn Saraya

  • United Arab Emirates: Monday, July 02 - 2007 at 16:18
  • PRESS RELEASE

Sorouh Real Estate announced that it has shortlisted six companies to bid for the infrastructure package of the prestigious AED 3.5 billion Saraya project located on the Abu Dhabi Corniche Road.

The 6 contractors who have been shortlisted to submit tenders for this infrastructure development are: Al Jaber Transport & General Contracting Est., Saif Bin Darwish, Mohamed Abdulmohsin Al-Kharafi & Sons, Al Geemi & Partners Contracting Company W.L.L., Copri Construction Enterprises Est. and Orascom Contracting Industries - Fujairah.

Saraya Abu Dhabi will consist of 28 mid and high rise residential and commercial towers ranging from 10 to 40 stories high, as well as a hotel with serviced apartments. Spread over a vast waterside site covering 125,000 square meters, the Saraya development will enhance the visual appeal of the Corniche and improve perceptions of the city.

This luxurious mixed use development was master planned by PTW Architects of Australia. The Infrastructure and conceptual and detailed designs of the Landscaping works will be prepared by Rafik El Khoury and Partners (UAE) in collaboration with Cansult Maunsell (UAE) and Site Image.

"Residents of Saraya will enjoy a perfect balance between city centre convenience and waterside living." commented Mounir D. Haidar, Sorouh Real Estate CEO. "Additionally, considering its central location, Saraya offers a high level of open space, formal water bodies, playgrounds, picnic areas, meditation and exercise spaces and a full network of walkways and jogging trails."

"Saraya Abu Dhabi is planned to be the most desirable mixed use developments in Abu Dhabi. With a masterplan featuring water current themes, the buildings and landscape will flow as a single unified design." added Dr. Adnan Sahli, Executive Director of Projects for Sorouh Real Estate.

Work on Saraya Abu Dhabi is planned to commence by the close of 2007. The 28 residential and commercial towers will be constructed over two phases the first being completed in 2010 and the second in 2013.

"We selected PTW to master plan this project because of their outstanding international reputation for delivering high quality design and planning solutions for waterfront property, their experience in designing projects featuring environmentally sustainable architecture and their track record in master-planning buildings for balanced commercial, cultural and public uses,"

"Since we had a very positive response to our invitation to bid for the infrastructure work we can look forward to pairing a construction industry leader with world class designers on this project". added Dr. Sahli.

"We are aware of the importance of this project to the city and we are working hard with our planners, architects and contractors to ensure that the Saraya development significantly enhances the visual impact of the Corniche," concluded Haidar.
Saraya project located on the Abu Dhabi Corniche Road.  
Saraya project located on the Abu Dhabi Corniche Road.
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Notes and Media Contacts »

About Sorouh Real Estate P.J.S.C.

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 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 a 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 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. The project was awarded to Sorouh by His Highness Sheikh Khalifa 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 and the Tala Tower as well as Saraya on the Abu Dhabi Corniche.

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

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