Sorouh Vows To Go Ahead With Projects Despite Crisis

Sorouh Real Estate, which is executing projects worth about Dh70 billion across Abu Dhabi, plans to go ahead with its projects as planned despite the global downturn, a top company executive said yesterday. Samer F. Abu Hijleh, chief operating officer of Sorouh, one of the largest real estate companies by market capitalisation in the UAE, told Gulf News that their projects in the advanced stages of planning are also going ahead, but admitted there are constraints in the market on raising funds.

"Sorouh being a leading company in the Abu Dhabi real estate market will always find sources of finance due to its creditworthiness," said Abu Hijleh. "The global economic crisis is taking its toll internationally and regionally. The situation is not unique to Sorouh. Our financial results have only improved." Abu Hijleh said the company has no downsizing plans to cut costs. "In fact, we are hiring staff. We expect to hire more people next year," he said. Sorouh currently has more than 250 employees.