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Friday, 27 November 2009 10:43 UAE time

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Sorouh launches property management firm

by This email address is being protected from spam bots, you need Javascript enabled to view it  on Monday, 20 April 2009
PROPERTY MANAGEMENT: Sououh has announced a joint venture to set up a property management firm.
PROPERTY MANAGEMENT: Sououh has announced a joint venture to set up a property management firm.

Abu Dhabi’s second largest developer Sorouh Real Estate launched property management firm Khidmah on Monday.

A joint venture between Sorouh and Capital Investment LLC, the new company will offer everything from property consultancy to leasing and maintenance services, the developer said in a statement at real estate conference Cityscape Abu Dhabi.  

Khidmah will provide services to a number of property investors at other developments as well as to customers of Sorouh and Capital Investment.

The company is forecast to have a headcount of 150 staff by the end of year, Sorouh said.


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“Khidmah offers all the services you will require, whether you are a homeowner requiring maintenance of your home, or an investor wanting help in leasing and managing a set of properties,” Mounir Haidar, CEO of Sorouh, said in the statement.

Earlier on Monday, Reuters newswire reported that Sorouh would be looking to raise AED2bn ($544.5m) in syndicated loans in 2011 and 2012 to finance projects.  

Sorouh is developing mega-project Reem Island in Abu Dhabi and has a $70bn portfolio.

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