Sorouh Real Estate, one of Abu Dhabi’s leading real estate developers, today announced the acquisition of a strategic shareholding in LLJ Property, a major real estate agency.

Sorouh has acquired its stake in LLJ Property in a share transfer transaction, which will also see the two companies creating a joint venture for sales of properties at Sorouh’s projects.

LLJ Property was established in 2005 as one the first real estate agencies to focus primarily on the Abu Dhabi market.  Today, it has more than 50 staff working from its headquarters at Al Jazira Sports & Cultural Club, Abu Dhabi.

Mounir D Haidar, chief executive officer, Sorouh Real Estate, said: “As one of Abu Dhabi’s leading real estate developers, we are delighted to be able to forge this relationship with the city’s leading real estate agency. Our joint venture will give LLJ Property access to our full portfolio of developments, which will help the company consolidate its strong position in this market.

“Sorouh has many exciting developments which will be coming to the market in the coming months and years, and it is critical we have a world-class sales strategy in place if we are to deliver optimum results.  LLJ Property will complement our existing team, adding another important channel to market.”

Linda Loughnane, managing director, LLJ Property, said: “This is an important strategic step for LLJ Property, allowing us to accelerate the rapid growth of our business here in Abu Dhabi.'

Sorouh has projects worth more than Dh45 billion under development, including Shams Abu Dhabi, Alghadeer and Saraya. The company last week unveiled the first master-plans for Lulu Island, which will be developed into an outstanding tourism and residential landmark for Abu Dhabi. - TradeArabai News Service