Sarouh Real Estate Will Not Lay-Off StaffWednesday, December 17, 2008
Abu Dhabi’s second largest real estate developer Sarouh Real Estate will go ahead with the construction of all real estate projects it announced and there is no plan to lay-off its staff, an official said. Sarouh is impacted by the global economic slowdown, like any other company in the real estate sector as raising capital has become difficult,” said Samir F. Abu Hijleh, chief operating officer, Sarouh Real Estate told reporters, at a briefing on the projects under construction. He said that the work is in full swing at all projects including Shams Abu Dhabi, a mixed use project being developed at Al Reem Island. He said this mega project would be completed by 2011, while its first phase will be ready by 2009. Shams Abu Dhabi, a mega development, will be home to 45,000 residents. Source: Khaleej Times
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