Arab Today, arab today abu dhabi’s sorouh banks on state housing projects
Last Updated : GMT 15:53:52
Arab Today, arab today
Arab Today, arab today

Abu Dhabi’s Sorouh banks on state housing projects

Arab Today, arab today

Arab Today, arab today Abu Dhabi’s Sorouh banks on state housing projects

Abu Dhabi - Arabstoday

Sorouh Real Estate, Abu Dhabi\'s second largest developer by market value, expects projects awarded by the government to be a core part of its developments in the short term, its managing director said on Monday. The Abu Dhabi-listed developer has secured housing projects worth about AED5.4bn ($1.5bn) over the last two years from the Abu Dhabi government, Abubaker Seddiqi al-Khouri told reporters. \"More will come from the government in the coming years. We always considered ourselves part of the government and its 2030 plan,\" he said. Sorouh is working with the government to win other projects, he added, declining to give details. It is also in talks with school developers to build a school in the Shams area. Real estate prices in the capital of the United Arab Emirates have slumped about 50 percent from their peaks in 2008 and investor interest is declining. Developers are relying largely on government projects for their growth. With hundreds of new residential units ready for delivery before the end of this year, the threat of increasing supply could push rents and prices further down. Abu Dhabi\'s real estate market may see an additional 11,000 homes in the fourth quarter, a report by property consultants Jones Lang LaSalle said. Sorouh has handed over keys to nearly half the owners at its flagship Shams Gate project\'s Sun and Sky towers. The remaining units will be handed over in the next two quarters, said Gurjit Singh, chief operating officer. Lower mortgage rates could also \"stimulate the market\" he added. Mortgage rates are currently around 6 percent, he said.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today abu dhabi’s sorouh banks on state housing projects Arab Today, arab today abu dhabi’s sorouh banks on state housing projects

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today abu dhabi’s sorouh banks on state housing projects Arab Today, arab today abu dhabi’s sorouh banks on state housing projects

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today How to do your own Ramadan corner?

GMT 15:53 2017 Saturday ,27 May

How to do your own Ramadan corner?
View News in Arabic - Business: عقارات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday