Sorouh signs agreement for 30-year lease at al rayyana

Strategic leasing partnership with DCI, a French government-related company, to lease 20% of project
Location and quality of development make al rayyana the desirable choice for long-term leasing

Abu Dhabi, 29 October 2011: Sorouh Real Estate PJSC ("the Company" or "Sorouh"), the Abu Dhabi-based real estate developer (ADX: SOROUH), announced the signing of a 30-year residential lease agreement at its al rayyana development in Abu Dhabi. The agreement was signed with Défense Conseil International (DCI) Group, a French government-related company, for almost 20% of the total project (287 units out of 1,537 available units) at prevailing market rates.

al rayyana is a purpose-built, gated apartment community that is being developed overlooking the Abu Dhabi Golf Course. Once completed in the first half of 2012, al rayyana will be a large scale residential leasing project, which will significantly strengthen Sorouh's recurring income portfolio.

Jean-Louis Rotrubin, Chairman and CEO of DCI, said;

"It is a pleasure for us to have signed this agreement with Sorouh. al rayyana is situated in a very attractive location at the entrance to Abu Dhabi and near the major highways. Its apartments and facilities will be completed to an excellent standard and the development will serve our needs well."

Abubaker Seddiq Al Khouri, Managing Director of Sorouh, commented:

"We are very proud to have DCI as a long-term tenant at al rayyana and to be able to help accommodate a growing community of French expatriates. al rayyana is an important development for Sorouh as it will form an important part of our cash generative recurring income portfolio. Despite challenging market conditions, today's announcement reaffirms our view that there is still significant demand for high quality real estate in desirable locations in Abu Dhabi.

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About Sorouh Real Estate PJSC
Abu Dhabi-based Sorouh Real Estate PJSC is one of the UAE's leading property companies.

As part of Sorouh's partnership with the Abu Dhabi Government in its Plan 2030, the Company has been awarded the contract to master plan three investment zones in Abu Dhabi - Lulu Island; Shams Abu Dhabi on Al Reem; and Seih Sdeirah, the site of the alghadeer development.

Established in June 2005 with capital of AED 2.5bn, Sorouh is now one of the largest real estate developers listed on the Abu Dhabi Securities Exchange.

Enquiries:
Sorouh Real Estate
Obaid Alyammahi
Media Relations
+971 2 444 0006

Brunswick
Assheton Spiegelberg
Wajih Halawa
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