Sorouh selected Orascom from a short list of contractors, which included internationally renowned companies in the infrastructure construction domain. As part of the Saraya contract, Orascom will undertake the infrastructure works of the development covering road networks, utilities and landscaping.
"Sorouh looks forward to its first venture with Orascom. We are confident that with their outstanding reputation, Orascom will uphold Sorouh's commitment to quality and timely delivery," said Dr Adnan Sahli - Executive Director Projects at Sorouh.
"Saraya will significantly enhance the visual qualities of the Corniche in Abu Dhabi, and we trust that Orascom understands our vision and commitment to further improve the landscape of this appealing emirate," he added.
Saraya is a highly desirable mixed use development encompassing twenty eight mid and high rise residential and commercial towers, as well as a hotel and serviced apartments. "Spread over a vast waterside site covering 125,000 square meters, the Saraya development is set within a unique location overlooking the Gulf. It will provide residents with the ideal balance between city centre convenience and waterside living, with its large open spaces and unique range of recreational facilities." added Masood Al-Awar, Executive Director of Sales and Marketing.
Construction of the infrastructure works of Saraya has already commenced and the twenty eight residential and commercial towers will be constructed over two phases the first being completed in 2010 and the second in 2013.
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Sorouh awards Orascom the Saraya infrastructure construction package
- United Arab Emirates: Monday, December 10 - 2007 at 16:25
- PRESS RELEASE
Sorouh Real Estate, a leading real estate developer in the UAE has awarded the infrastructure construction works of the prestigious Dhs3.5bn Saraya development to Orascom Construction Industries (OCI).
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About Sorouh Real Estate P.J.S.C.Abu Dhabi based Sorouh was established on June 26, 2005 with a capital of Dhs2.5bn. Today it is one of the largest real estate developers listed on the Abu Dhabi Securities Market with a market cap close to Dhs11.3bn. 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 160 highly qualified professionals operating in the field of master-planning and master-development.
Sorouh now has in excess of Dhs50bn of projects under development. These include:
Al Ghadeer, an oasis of easy living on the border between Abu Dhabi and Dubai. Expected to be home to over 18,000 people the 3million sq m site is a complete community featuring affordable homes yet offering easy access to the UAE's commercial centers airports and ports.
SHAMS Abu Dhabi, Sorouh's flagship project is an AED 25Bn landmark development on Reem Island. A complete new city of 60,000 residents, 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 Dhs11bn 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 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.
For more information please contact:
Nancy Fetouh
Assistant Marketing Manager
Sorouh Real Estate P.J.S.C.
Tel: +971 2 444 0006
Fax: +971 2 444 0066
Or
Kaja Weller
Account Executive
Hill & Knowlton
Tel.: +971 4 3344930 ext 620
Fax: +971 4 334 4923 /33
Posted by Lara Lynn Golden, News EditorMonday, December 10 - 2007 at 16:25 UAE local time (GMT+4)
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