- Perfectly located to offer island lifestyle and city lifestyle says developer -

Abu Dhabi, 19 November 2006:  Sorouh Real Estate today unveiled a new residential tower project to be built on Reem Island.  The luxurious 49-floor Tala Tower, will be located on Marina Square, facing Abu Dhabi Mall. At just a few hundred metres offshore, residents of Tala Tower will be able to enjoy an island lifestyle and a city centre lifestyle.

"Tala Tower will offer the best of both worlds" said the company's Chief Executive Mounir Haidar at a press conference and launch ceremony here. It's a great example of how we live up to our promise of 'life in perfect balance'.  

Sorouh is Abu Dhabi's largest publicly listed real estate company by market capitalisation. The Tala Tower is Sorouh's first project on Reem Island outside its flagship project SHAMS Abu Dhabi, which will occupy about 25 percent of the island.

Tala residents will benefit from the special location of the tower which not only offers fantastic views of the sea and the Abu Dhabi skyline but also gives residents the opportunity to indulge in hobbies such as fishing and sailing. 

The location will also enable residents to take advantage of the new links to the mainland. "Tala Tower will be five minutes drive from the Tourist Club area via the bridge at Sheikh Hazaa bin Zayed Street which will be completed in December 2006," said Haidar "Additional bridges will be built to Reem Island from Al Falah Street and from the Meena area giving three convenient access points.

"It is the location of Tala, combined with the facilities that we are offering here, that lend credibility to our commitment to our corporate motto of 'life in perfect balance'," Sorouh's CEO said.

Haidar said the spacious Tala Tower apartments offer great value considering their prime location in the rapidly transforming capital city.  "Tala Tower will combine state-of-the-art technology, access to a natural marina, several luxury features and excellent views of greenery and the waters. We are very pleased to make this luxury offering at such affordable prices to prospective residents and investors," he said. 

The Tala Tower will have 49 floors and 375 apartments of 1, 2 and 3 bedrooms.  The Sorouh presentation at the press conference said the prices

of these apartments will be in the range of AED 812,596 to 968,576 for 1- bedroom, AED 1.3 million to 1.55 million for a 2-bedroom and AED 1.9 million to 2.16 million for a 3-bedroom apartment. The size of the apartments range from 81 square meters (872 square feet) to 180 square meters (1.938 square feet).  

"Sorouh has worked with a number of institutions to develop advantageous finance schemes for investors," said Haidar, mentioning Abu Dhabi Commercial Bank, the National Bank of Abu Dhabi, and Amlak  in particular.

The facilities for residents of Tala will include 24-hour access to the swimming pool, tennis courts, playground for children and exclusive parking space for each apartment.  Residents will also have underground access to the shopping centre and cafs located on the marina.

Haidar said Tala Tower is slated for completion in May 2009. Sorouh has appointed LLJ Property to drive the sales of the residential units.

The launch ceremony was attended by about 100 invited guests including the media.  The guest list included Sorouh's business partners and real estate agents.  Sorouh also displayed a model of the tower at the event.

-Ends-

Editor's Note:
Sorouh Real Estate PJSC was established on 26th June 2005 with a capital of AED 2.5 billion with the objective of developing world-class properties in its home market of Abu Dhabi. It is listed on the Abu Dhabi Securities Market. SHAMS Abu Dhabi, Sorouh's flagship project, is being built on Reem Island, which is located just 300 meters off the northeastern shore of the capital city. Tala Tower is the first Sorouh project on Reem Island outside SHAMS Abu Dhabi.  

For further information:
Wael Kanakri
Asda'a Public Relations
Tel: 971 (0) 2 633 4133
Mob 971 (0) 50 731 5397
Fax: 971 (0) 2 633 4233
e-mail: w.kanakri@asdaa.com

© Press Release 2006