Sorouh Real Estate PJSC, one of
Abu Dhabi’s leading real estate
developers, has acquired a
strategic shareholding in LLJ Property
LLC through a share transfer transaction
which will see both companies creating
a joint venture for sales of properties
at Sorouh’s many major projects. LLJ
Property was established in 2005 as one
the first real estate agencies to focus
primarily on the Abu Dhabi market. Today,
it has more than 50 staff working from its
new headquarters at Al Jazira Sports &
Cultural Club, Abu Dhabi.
“As one of Abu Dhabi’s leading real
estate developers, we are delighted to
be able to forge this relationship with the
city’s leading real estate agency,” says
Mounir Haidar, the CEO of Surouh. “Our
joint venture will give LLJ Property access
to our full portfolio of developments,
which will help the company consolidate
its strong position in this market.”
“Sorouh has many exciting
developments which will be coming
to the market in the coming months
and years, and it is critical we have a
world-class sales strategy in place if
we are to deliver optimum results. LLJ
Property will complement our existing
team, adding another important
channel to market.”
“With LLJ Property and Sorouh Real
Estate, we have two companies with
a common vision and with a common
belief in the development of the Abu
Dhabi real estate market. We expect this
to be a real win-win for both companies.”
LLJ Property’s Managing Director,
Linda Loughnane, descibes the deal
as “an important strategic step for LLJ
Property, allowing us to accelerate
the rapid growth of our business here
in Abu Dhabi. We had the foresight
three years ago to understand the
enormous potential of Abu Dhabi’s real. estate market and had the confidence
to invest heavily to establish one of
the first real estate agencies that
focuses on property sales in Abu Dhabi.
Given the unprecedented growth Abu
Dhabi is experiencing and the action
Abu Dhabi government is taking to
develop the Emirate in many different
sectors, including tourism, health care,
education and industry, it is easy to
understand why we remain so confident
in the long-term sustainability of the Abu
Dhabi real estate market.
“This alliance with Sorouh Real Estate
will enable us to enhance our offer to our
clients and corporate investors whilst
providing Sorouh with information on
market trends and demands.”
Sorouh has projects worth more
than Dhs 45 billion under development,
including Shams Abu Dhabi, Alghadeer,
at Saih al-Sidirah, near Ghantut, and
Saraya. The company unveiled at May’s
Cityscape exhibition the first masterplans
for Lulu Island, which will be
developed into a tourism and residential
landmark for Abu Dhabi.
The relationship between Sorouh
and LLJ goes back to 2006, when LLJ
Property became the sole sales agent
for Sorouh’s Tala Tower project. |
