Orascom secures Dh3.5b Saraya project contract |
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Tuesday, Dec 11, 2007
Gulf News
Dubai: Sorouh Real EstateSorouh Real Estate
, a leading real estate developer in the UAE has awarded the infrastructure construction works of the prestigious Dh3.5 billion Saraya development to Orascom Construction Industries (OCI)Orascom Construction Industries (OCI).
SorouhSorouh selected OrascomOrascom from a short list of contractors, which included internationally renowned companies in the infrastructure construction domain. As part of the Saraya contract, OrascomOrascom will undertake the infrastructure works of the development covering road networks, utilities and landscaping.
"SorouhSorouh looks forward to its first venture with OrascomOrascom. We are confident that with their outstanding reputation, OrascomOrascom will uphold SorouhSorouh's commitment to quality and timely delivery," said Dr Adnan Sahli, executive director, projects, at SorouhSorouh.
"Saraya will significantly enhance the visual qualities of the corniche in Abu Dhabi, and we trust that OrascomOrascom understands our vision and commitment to further improve the landscape of this appealing emirate," he added.
Saraya is a mixed use development encompassing 28 mid- and high-rise residential and commercial towers, as well as a hotel and serviced apartments. "Spread over a waterside site covering 125,000 square metres, the Saraya development is set in 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 of Saraya has already begun. The towers will be constructed in two phases, the first being completed in 2010 and the second in 2013.
We are confident that with their outstanding reputation, OrascomOrascom will uphold SorouhSorouh's commitment to quality and timely delivery."
© Gulf News 2007. All rights reserved.
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