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Sunday, December 6 - 2009

Sorouh's impressive Sky Tower on track for completion late 2009

  • United Arab Emirates: Sunday, August 26 - 2007 at 12:25
  • PRESS RELEASE

Sorouh Real Estate, Abu Dhabi's leading real estate developer has announced that construction on its impressive Sky Tower development is running on schedule.

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  • Construction update: Sorouh Real Estate's Flagship Sky Tower at Shams Abu Dhabi.
    Construction update: Sorouh Real Estate's Flagship Sky Tower at Shams Abu Dhabi.
Due for completion by late 2009 the company's rapid progress on the 74 storey tower is clearly visible.

Sky Tower, part of the Gate District development in Shams, Abu Dhabi, was launched by Sorouh Real Estate in April last year, and is designed by internationally renowned architectural firm Arquitectonica. The elliptical shaped Sky Tower will rise to an awe-inspiring 300 metres once completed and will provide outstanding opportunities to own residential and commercial property at the most prestigious address in the UAE's capital city.

Mounir D. Haidar, CEO for Sorouh Real Estate, said: "As work on the superstructure continues, Sorouh will maintain its focus on delivering quality work. For over 8 months now, the Sky Tower has progressed on or ahead of schedule. All three basements of the tower have been completed. Work has now finished on the core walls of the ground floor and the ground floor slab was poured last week. An Automatic Climbing Formwork system is being used to enhance the efficiency and increase the speed at which each floor will be finished. As promised, Sorouh is on track to open the doors to its offices and residences by late 2009."

In June this year, the cement pouring of the first and second half of the Sky Tower raft foundation had occurred marking a significant milestone for the Sky Tower. A total of 8,000 cubic meters of concrete was poured into the foundations of this landmark project and had taken place exactly on schedule.

Arab Construction Company (ACC) -the contractor which was awarded the AED 2.3bn contract to build Sky Tower and its sister Tower -will spend about 7 days pouring the concrete for each floor, with at least 3 days in between to prepare each floor for upcoming pours. Preparation involves the installation of mechanical pipe sleeves, welded wire fabric reinforcement, electrical conduits and welded perimeter closure angles.

This month, construction for the podium is underway, and building of the foundation of the raft for the underground parking below the podium has begun. On part of the podium, a community mall will include a supermarket, banks, pharmacy, barber and beauty salon, travel agent, jewellery and fashion outlets and a music and book shop.

As part of an exclusive range of amenities, designed to provide 'life in perfect balance,' the Sky Tower podium will boast a 145,000 sq ft retail mall and also host an exceptionally large sports and leisure facility covering the entire podium deck featuring a state of the art gym, several swimming pools, tennis courts, squash courts, spa and more.

"We are thrilled to see the Sky Tower progress on schedule. We promised our investors and shareholders that we would surpass their expectations by offering quality, efficiency and on time delivery. We are on target to do just that," concluded Haidar.
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Notes and media contacts

Nancy Fetouh
Assistant Marketing 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

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 11.3 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 140 highly qualified professionals operating in the field of master-planning and master-development.

Sorouh now has around AED 40 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 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 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.

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.

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