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Sorouh ranked as one of top GCC brands
Abu Dhabi-based Sorouh Real Estate announced on Saturday that a report recently ranked the company as one of the top 50 brands in the GCC, making it the only real estate developer to rise in its brand value.
U.A.E. lays groundwork for $ 400 million Dubai polysilicon plant
In June, Abu Dhabi-based Masdar revealed plans to build the world’s biggest concentrating solar plant with the help of French oil company Total and Spain’s Abengoa Solar. The $600 million Shams 1 project could displace 175,000 metric tons of carbon emissions annually once it is completed in 2012. Abu Dhabi is also planning to build a $22 billion zero-emissions city, also with Masdar.
Sorouh says profit plunges to Dh20m
Nomura stated: “Sorouh missed our Dh430 million revenue expectation by a lot. We had forecast the revenue risk to the downside in the eventuality that Sorouh could not maintain its quarterly run of ‘smoothing transactions [land sales, joint venture sales/exits etc]. In the previous quarter, revenues were boosted by a Dh216 million land plot sale in Shams Abu Dhabi”.
Aldar HQ completion to double office space
HQ is the first of many other planned developments at Al Dana, the Central Business District of Al Raha Beach. A key part of the Abu Dhabi 2030 Plan, Al Raha Beach is perfectly located for accessing the traditional Central Business District on Island as well as future locations such as the Capital District, the release claimed. Aldar is offering a range of integrated tenant services and there will be a comprehensive range of facilities that include a gym, numerous food and beverage outlets, convenience stores and restaurants, the company said.
Aldar posts Dh789m loss
Dubai: Aldar Properties, Abu Dhabi’s property development, investment and management company, posted a net loss of Dh789.5 million for the first six months of 2010, compared to a net profit of Dh1.14 billion for the same period last year as sales declined. The company expects better results for the second half of 2010 on the back of revenue generated from the delivery of the Al Raha Beach and Al Gurm projects. The company also made Dh695 million worth of sales during the first six months of this year which will be recognised in future periods.
Abu Dhabi property market continues to cool
In terms of new property, most of the high-end supply will be concentrated on Reem Island and Al Raha Beach, with mid-end supply coming up on the Abu Dhabi Main Island and more affordable lower end stock on the mainland, which includes the first phase of Al Reef Downtown.
Aldar’s Abu Dhabi HQ: One last spin of the wheel
Aldar’s Abu Dhabi headquarters is one of the final feats of jaw-dropping construction machismo we’ll see from the UAE for a while, says Thomas Lane. And it gives us plenty of reasons to mourn their passing …
Laing O’Rourke to close Mideast division
However, it was confirmed that Laing O’Rourke will maintain its relationship with Aldar, with whom it is working on the AED54bn ($14.7bn) Al Raha beach project.
