Sorouh to introduce additional new financing schemes for customers

The move is one of a number of initiatives the company will introduce to improve its customer relationship management processes and will help home-buyers to manage better the challenges of the current global liquidity situation.

An enhanced new Customer Service Team has also been established, to develop processes to manage the customer relationship from purchase through to delivery.

Simon Cunningham, Sorouh's Chief Sales & Marketing Officer, said:

"In the current challenges facing the market, it is clear that the focus for successful real estate developers needs to shift in 2009, from sales-led to service-led strategies."

"At Sorouh, we've asked what our customers want and now we are delivering it, with a series of initiatives which will support them through the purchase, financing and delivery phases of their relationship with us. In particular, we have been initiating new financing options for each of our developments, giving investors innovative options to manage the financing of payments for their future homes, and this will continue to be an important focus in 2009," Cunningham added. "We have already made a significant commitment to customer finance through our role in the formation of Abu Dhabi Finance, the new mortgage company, and through our relationships with almost 20 banks and financial institutions, offering finance on properties on our developments. In the coming weeks, we will be announcing further new financing options for customers."

Additional new financing options will be introduced for properties on each of Sorouh's developments which are under way, including Sun and Sky Towers, The Gate District at SHAMS Abu Dhabi on Reem Island, and alghadeer, the master-developed community between Dubai and Abu Dhabi.

Simon Cunningham added, "We are pushing ahead with construction at our major projects and will be reaching important milestones in the coming weeks - including the topping out of Sun Tower, the completion of the first show villas at alghadeer and the delivery of the first phase of Golf Gardens. As we move into these construction and delivery phases, customer service becomes even more important and this is behind our new initiatives."