Sorouh set to build more affordable housing

Senior Abu Dhabi company official says more cheaper home for Emiratis on agenda.
Sorouh set to build more affordable housing
By Claire Ferris-Lay
Wed 07 Oct 2009 04:19 PM


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.

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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