90% of Shams Abu Dhabi Infrastructure Contracts have now awarded and work under progress
Abu Dhabi, Nov 07, 2007 - Sorouh Real Estate have awarded a AED 465 million contract to Al Geemi & Partners to construct the roads and utilities infrastructure at Shams Abu Dhabi. The world class integrated development is Sorouh's AED 25 billion flagship project on Reem Island, which once complete will offer 55,000 residents the perfect combination of modern comfort and natural living.
Al Geemi & Partners was selected from a short-list of seven companies in a tendering process that included internationally renowned specialists in the construction of roads and utilities.
"Al Geemi is a leading expert in the construction industry and has played a major role in the development of Abu Dhabi. We are happy to be working with one of the industry's leading contractors who understand Sorouh's vision for Shams Abu Dhabi," said Mounir Haidar, CEO, Sorouh Real Estate.
As part of the AED 465 million contract, Al Geemi & Partners will cover the construction of the main loop road and internal roads network and will also include all internal utilities network covering power, water mains, street lighting works, traffic control system, storm water works, sewerage, irrigation, telecommunications, and gas works.
The Roads in Shams have been uniquely integrated within the landscape of the development to allow convenient traffic movement and access to all areas whilst providing a safe and pleasant environment for pedestrians.
Dr. Adnan Sahli, Executive Director of projects for Sorouh Real Estate PJSC stated, "The Roads network forms a hierarchy, the primary circulation being from a loop road, leading to collector roads, and service alleys. The primary loop road around the perimeter of the development will allow traffic to be fed from two directions to any point in the network. The loop road will be 4 lanes in each direction, designed to cater for traffic growth."
Shams Abu Dhabi will contain around 100 towers, 22 thousand residential units, and a million square feet park. The entrance of the development will be marked by The Gate District, an 8-tower development, which includes the 74-storey Sky Tower and the 64-storey Sun Tower. The first phase of Shams Abu Dhabi's development will be completed by 2009.
The master-planned community offers spectacular views of the Arabian Gulf and Abu Dhabi city. With a mangrove forest to the west and expanses of beautiful turquoise water to the east, Shams Abu Dhabi's coastal paths offer spectacular walks while the pedestrian walkways of the city's canal network access extensive retail and social facilities. They also enable the intriguing architecture of different communities to be enjoyed at close quarters.
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About Sorouh Real Estate P.J.S.C.
Abu Dhabi based Sorouh was established on June 26, 2005 with a capital of AED 2.5 billion. Today it is one of the largest real estate developers listed on the Abu Dhabi Securities Market with a market cap close to AED 11.3 billion. It is one of the most widely held issues with approximately 55,000 shareholders.
Sorouh's corporate vision is to "bring communities to life in perfect balance". Its real estate projects are master-planned and designed to meet the four core needs of human wellbeing: physical, intellectual, social and spiritual. Sorouh employs in excess of 140 highly qualified professionals operating in the field of master-planning and master-development.
Sorouh now has around AED 40Bn of projects under development. These include:
SHAMS Abu Dhabi, Sorouh's flagship project is an AED 25Bn landmark development on Reem Island. A complete new city of 60,000, SHAMS Abu Dhabi will be a self sustaining city of canals and parks which integrates world-class master planning practices and extends the lush green of Abu Dhabi's landscape.
The Gate District on SHAMS Abu Dhabi is a cluster of 8 towers located at the entrance to SHAMS Abu Dhabi. Now architecturally renowned worldwide the AED 11Bn residential, office and retail development is designed as a gateway to the peninsula from Reem Island. The Gate District also includes the 74 storey Sky Tower which will be a pinnacle of luxury for its residential and commercial occupants when completed.
Sorouh is also developing the Golf Gardens overlooking the Abu Dhabi Championship Course, the Abu Dhabi Aviation Authority residential project, Al-Shamkha national housing project and the Tala Tower as well as Saraya on the Abu Dhabi Corniche.
For more information please contact:
Nancy Fetouh
Assistant Marketing Manager
Sorouh Real Estate P.J.S.C.
Tel: +971 2 444 0006
Fax: +971 2 444 0066
Email: nfetouh@sorouh.com
Kaja Weller
Account Executive
Hill & Knowlton
Tel.: +971 4 3344930 ext 620
Fax: +971 4 334 4923 /33
Email: Kaja.weller@hillandknowlton.com
© Press Release 2007
