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Sorouh set to build more affordable housing

by This email address is being protected from spam bots, you need Javascript enabled to view it  on Wednesday, 07 October 2009
FUTURE PLANS: Sorouh is aiming to build more affordable homes for Emiratis. (ITP Images)
FUTURE PLANS: Sorouh is aiming to build more affordable homes for Emiratis. (ITP Images)

Sorouh Real Estate, the second-biggest developer in Abu Dhabi, plans to develop affordable housing for Emiratis within the next year, its chief property development officer said on Wednesday.

“We haven’t embarked on affordable housing per se but we have started looking at affordable housing for Emiratis,” Gurijit Singh told Arabian Business on the sidelines at Cityscape.

“It [affordable housing] would be an important part of our portfolio,” he added. "Its a good sector to be in."
 
Sorouh last month confirmed the departure of CEO Mounir Haidar.


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The firm posted a second-quarter net profit of 150.98 million dirhams ($41.08 million), down 75.5 percent from the year-earlier period.

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more » MIDDLE EAST MARKETS DATA

SOROUH.ADX

Last Price:

3.13

-0.13-3.95%

19 Nov 2009 09:59 GMT
(Market Closed)

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