Sorouh looks to international markets for further expansion

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Sorouh Real Estate PJSC, one of Abu Dhabi’s leading property development companies, today announced significant progress in its developments in Egypt and Morocco.

Located 25 kilometers outside of Cairo city centre, Sorouh’s Egypt property will provide a truly integrated community within easy reach of all major amenities. It will offer people the opportunity to live, work and entertain within one balanced, community environment with just a 20 minute drive to Cairo International Airport, allowing quick and easy access to the GCC and international destinations.

Sorouh’s project in Egypt will be home to 40,000 residents, offering a mix of commercial, residential, retail and entertainment facilities. Schools, hospitals and a nearby university will cater to a family’s educational and healthcare needs. Eighty per cent of the land area will be landscaped, with just 20 per cent allocated to buildings.

In addition, Sorouh has made significant progress on its new project in Morocco. Sorouh’s Atlas Garden Resort sits to the south of Marrakech, set in front of the dramatic Atlas Mountain range. The development will consist of accommodation which will cater to the different needs of the diverse market, with a 300 bed 5-star hotel, a 200 bed 4-star hotel and a 350 unit apartment hotel.

A highlight of Sorouh’s Atlas Garden Resort is the 18 hole golf course designed by world renowned course designer Cabell, which will also feature a club house.

Atlas Gardens will consist of 1,968 residential units divided into villas, town houses and apartments, supported by more than 112,000 square meters of retail space and a sports club.

Mounir Haider, CEO, Sorouh Real Estate PJSC said:

“Sorouh is creating dynamic property developments in both existing and emerging markets, where we are in full control of our developments. Our developments in Egypt and Morocco are progressing as planned and we have made significant progress in the planning and design stages.

“Our project in Egypt will offer housing units for a wide cross-section of the Egyptian market customers, whilst our project in Morocco will be a high end development catering to the different needs of our European and Moroccan customers.”

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About Sorouh Real Estate PJSC

Abu Dhabi-based Sorouh Real Estate PJSC is one of the UAE’s leading property companies, with more than AED 70 billion worth of projects under development in the UAE and internationally.

Established in June 2005 with a capital of AED 2.5 billion, Sorouh is now one of the largest real estate developers on the Abu Dhabi Securities Exchange. In July 2008, the company’s market capitalization was AED 23.2 billion with approximately 40,000 shareholders.

Sorouh is active internationally, with up and coming projects in Egypt and Morocco.

Working in master-planning, master-development and property related fields, Sorouh has some of the region’s most important developments underway, including Abu Dhabi’s Lulu Island, SHAMS Abu Dhabi, The Gate District at SHAMS Abu Dhabi, Alghadeer, Saraya and Golf Gardens, all developed in close cooperation with the Abu Dhabi Government and its vision for the future.

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