Business | Property
Sorouh eyes investment opportunities
Sorouh Real Estate, one of the largest property developers by market capitalisation in the UAE, will draw up investment plans for its proposed mixed-use development projects in Egypt and Morocco by the middle of this year, a senior company executive, close to the developments, said yesterday.
- By Himendra Mohan Kumar, Staff Reporter
- Published: 23:40 February 25, 2008
Abu Dhabi: Sorouh Real Estate, one of the largest property developers by market capitalisation in the UAE, will draw up investment plans for its proposed mixed-use development projects in Egypt and Morocco by the middle of this year, a senior company executive, close to the developments, said yesterday.
"We are currently in talks with the authorities in the respective countries. It is too early as we continue to explore opportunities in Egypt and Morocco and our negotiations are ongoing," the Sorouh executive told Gulf News.
Earlier this month, Gurjit Singh, executive director for property development at Sorouh, said that Sorouh plans to start developing projects in Egypt and Morocco "shortly" as part of a strategy to increase revenue through foreign operations.
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