10 June 2009
Sorouh Real Estate, an Abu Dhabi-based master developer, said yesterday it has dissolved two joint ventures with Tameer Holding in Shams Abu Dhabi project in Reem Island.
"Consequently, Tameer will continue to have 100 per cent ownership of the Rise Above project, and Sorouh will now have 100 per cent of the Gate Towers project," the developer said in a statement to Abu Dhabi Securities Exchange.
A Sorouh spokesman declined to comment on the reason behind the dissolution of the partnership.
Sorouh Real Estate, an Abu Dhabi-based master developer, said yesterday it has dissolved two joint ventures with Tameer Holding in Shams Abu Dhabi project in Reem Island.
"Consequently, Tameer will continue to have 100 per cent ownership of the Rise Above project, and Sorouh will now have 100 per cent of the Gate Towers project," the developer said in a statement to Abu Dhabi Securities Exchange.
A Sorouh spokesman declined to comment on the reason behind the dissolution of the partnership.
By Parag Deulgaonkar
© Emirates Business 24/7 2009
