Sorouh starts delivery of Al Reem homes
Abu Dhabi, March 3, 2011
Sorouh Real Estate, a major Abu Dhabi-based property developer, has started a phased handover to owners of their new homes in Sun and Sky towers, part of Sorouh’s Shams Gate District on Al Reem Island.
Sorouh’s customer service team has informed a number of customers that their homes are ready for possession, pending final settlement of the outstanding portion on their overall payment, a statement said.
Once they have finalised payment, they will be handed the keys to their units as well as a detailed information pack on the development, it added.
Once all units have been handed over, Sorouh will have recognised in the region of Dh2.3 billion ($626 million) in revenue, according to the statement.
Sun and Sky towers are also the first Grade A buildings to be delivered in Abu Dhabi’s new investment zone on Al Reem Island.
The 74-storey Sky Tower and 65-storey Sun Tower are the two tallest buildings in the Shams Gate District, a cluster of eight towers located at the entrance of Shams Abu Dhabi on Al Reem Island, and the highest completed buildings in Abu Dhabi.
Sky Tower has 474 residential units and 800,000 sq ft of commercial office space. Sun Tower will accommodate 680 residential units. There are 10 penthouses between the two properties, bringing the total number of units to 1,154.
“This is a very important moment for Abu Dhabi as it marks the first delivery to customers of their homes on Al Reem Island,” said Saeed Eid Al Ghafli, chairman, Sorouh.
“For Sorouh, it represents an important milestone in the Company’s five year history. Sun and Sky represent Sorouh’s commitment to execute and deliver successful projects. We are confident that our customers will be pleased with the quality of the development.”
“In 2011, we will deliver a number of projects that will generate significant cash for the business and profits for shareholders.”
“I would also like to reiterate the commitment of Sorouh to delivering our projects under development and those currently in planning in Abu Dhabi,” he added. – TradeArabia News Service