Sorouh Real Estate forms joint venture with Abu Dhabi based real estate agent

Linda Loughnane, MD, LLJ Property LLC and Mounir D Haidar, CEO, Sorouh Real Estate PJSC

Sorouh Real Estate PJSC, one of Abu Dhabi's leading real estate developers, has announced the acquisition of a strategic shareholding in LLJ Property LLC, major real estate agency based in UAE capital through share transfer transaction. It will also see the 2 companies creating a joint venture for sales of properties at Sorouh's major realty projects.

Mounir D Haidar, CEO, Sorouh Real Estate PJSC, said, "As one of Abu Dhabi's leading real estate developers, we are delighted to forge this relationship with the city's well-known real estate agency. Our joint venture will give LLJ Property access to our full portfolio of developments that will help the company consolidate its strong position in this market".

Sorouh has real estate projects worth more than Dh45 billion under development, including Shams Abu Dhabi, Alghadeer and Saraya. It has recently unveiled the first master plans for Lulu Island that will be developed into an outstanding tourism and residential landmark for the UAE capital.