Sorouh to sell Ghadeer residential project in Q2 - Emirates24|7

Sorouh to sell Ghadeer residential project in Q2

Sorouh Real Estate will offer Al Ghadeer residential project at Seih Al Sdeira on the Abu Dhabi-Dubai border for sale during the second quarter of 2008, the company said.

Chief sales and marketing officer Masood Al Awar told Emirates Business that the company started registering prospective customers at Cityscape Dubai in October and will soon contact selected customers to start the sale procedures.

About 12,000 applicants have been registered, he said, while the number of units in the Dh20 billion project are just 6,800.

Al Ghadeer, which is one of Sorouh's largest projects, has a total area of three million square metres, Al Awar said. The project contains luxury residences at "reasonable" prices and includes villas, apartments, town houses, schools, medical centres, stores and entertainment facilities.

"Our current projects in Abu Dhabi [have a total of] 12,000 residential units, while we have received more than 30,000 applications. This figure is increasing on a daily basis. The number of people on the waiting list at the Al Ghadeer project is double the number of available units. In addition, there are 4,000 applications for Shams Abu Dhabi's six towers," Al Awar said.

The huge demand to buy residential units in Abu Dhabi is not restricted to Sorouh's real estate projects, Al Awar said, but covers the ever-growing property sector of the entire emirate.