Sorouh Real Estate, one of Abu Dhabi’s leading real estate developers, has acquired a 60 per cent stake in Abu Dhabi-based Pivot Engineering and General Contracting Company.

Sorouh said the deal was a logical step in strengthening its ability to deliver on the more than Dh45 billion in projects it currently has under development.

The company last week acquired a stake in Abu Dhabi-based LLJ Property in a share transaction that extended Sorouh’s sales channel to market.

Mounir D Haidar, chief executive officer, Sorouh Real Estate, said: “Sorouh is delighted to be able to deepen its relationship with Pivot, a company with proven delivery and a long history in Abu Dhabi. Given the scale of our many developments coming to market in the coming months and years, our construction force needs to be extensive and to operate at world-class levels of build and safety.

“It is vital that Sorouh keeps its commitment to deliver on time and to optimum quality. With this acquisition and our shareholding in LLJ Property, we have made strategic investments up and down the delivery chain, which put us in a stronger position than ever before.”

Pivot Engineering and General Contracting Company established its headquarters in Abu Dhabi in 1978, and has successfully completed a diverse range of construction projects. The company has a proven track record of on-time delivery while maintaining the highest quality and safety standards.

Fahim Boulos, managing partner, Pivot Engineering and General Contracting, said: “We feel that this is a very exciting time right now in Abu Dhabi, and to be associated with Sorouh and its projects gives us unprecedented ability to grow and participate in the city’s major development plans.

“As a company that prides itself on integrated teamwork, dedicated project management and outstanding craftsmanship, we feel our relationship with Sorouh is a perfect fit in delivering the highest quality and best value to Sorouh’s customers.” - TradeArabia News Service