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FINANCIAL NEWS
UAE’s Sorouh Real Estate expects to ink government deals
18 Oct 2011
(MENAFN) Sorouh Real Estate’s PJSC board member and managing director, Abu Baker Seddiqi Al Khouri, said that in the coming few years, the company would expect to ink real estate project deals with the UAE government, reported Gulf News.
Al Khouri added that since 2009, the Abu Dhabi-based firm signed contracts with the government with a value of around USD1.4 billion, moreover, the emirate’s second largest property developer started to work with the government in order to secure new contracts.
On the other hand, he said that currently, the company had projects valued at USD1.36 billion which would be completed soon, whereas the company also had other projects that would be completed in the coming few years with a value of USD2 billion.
It is worth noting that Sorouh will hand over around 3,500 units in 2011-2012, and it will deliver another 3,500 units in 2013-2014.
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