Sorouh Real Estate Company

Sorouh Real Estate was established in July 2005 in the UAE. With USD24.6 billion in undergoing real estate projects (as of year-end 2006), it is one of the region's largest real estate development companies.

Sorouh was developed with the purpose of developing real estate projects in Abu Dhabi with a vision of turning the Emirate into a regional leisure, business and lifestyle destination. Sorouh plans to expand its activities beyond Abu Dhabi and across the rest of the UAE. Sorouh listed its shares on the Abu Dhabi Securities MarketAbu Dhabi Securities Market in December 2005 and raised USD374 million for 55% of the company's equity.

Some of Sorouh's major developments include the USD272 million Golf Gardens project in Abu Dhabi, which it established in May 2006 in partnership with Tourism Investment and Development CompanyTourism Investment and Development Company. Sorouh also gave birth to the USD136 million Aseel Financing CompanyAseel Financing Company, which was established in partnership with First Gulf BankFirst Gulf Bank, Aldar PropertiesAldar Properties and Reem InvestmentsReem Investments.

Sorouh's is developing the USD6.8 billion Shams Abu Dhabi, within Al Reem IslandAl Reem Island's 6.33 million square meters (68 million square feet). the project will contain 100 skyscrapers, 22,000 residential units, and 1 million square meter (10.7 million square foot) park. The entrance of the development will be marked by The Gate District, an 8-building development, while other developments in the project include the 83-floor The Sky Tower, the 5 million square foot (465 square meter) Abu Dhabi Towers. The first phase of Shams Abu Dhabi's development is scheduled for completion by 2009 and the full project is due for full completion in 2011.

Sorouh did not stop there. It also part in the USD950 million Saraya Abu Dhabi project, which is due for completion in 2013. The 30 towers of Saraya include residential and commercial serviced apartments and a hotel, spread over 125,000 square meters (1.3 million square feet).