Sorouh launches property management firm

Khidmah, joint venture with Capital Investment LLC, will offer leasing, maintenance services.
Sorouh launches property management firm
By Alex Delmar-Morgan
Mon 20 Apr 2009 04:55 PM

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.

“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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