Is growth in Abu Dhabi’s real estate market sustainable?
Speaking at the MEED Abu Dhabi Conference 2008, Gurjit Singh, Chief Property Development Officer of Sorouh Real Estate PJSC, discussed how Sorouh and Abu Dhabi are uniquely positioned to weather the current global economic situation.
Mr Singh took part in a panel discussion at 12.30pm yesterday, Sunday November 9, to debate the future of the real estate market in the capital city of the emirate. The panel assessed supply and demand in the real estate market and whether growth is sustainable in Abu Dhabi. Sorouh is one of the leading Abu Dhabi-based real estate developers, and well positioned to comment on the current and future projections of the market.
Commenting on Sorouh’s contribution to debate at the conference, Mr Singh, said: “Abu Dhabi is strongly positioned to weather the current economic crisis and the real estate market will be one of the main beneficiaries of that strength. With the local population set to grow steadily in the medium to long term, demand for homes in well-considered, sustainable developments such as SHAMS Abu Dhabi on Reem Island will remain. Sorouh’s commitment to delivering all of its projects on schedule underlines its belief in the strong fundamentals of the market.
“MEED’s Abu Dhabi Conference 2008 is a key event for Sorouh. As the pace of Abu Dhabi’s growth accelerates, it is important that there are these forums for the continued sharing of experience and best practice. We are all working towards one goal – the successful growth and development of Abu Dhabi.”
Sorouh is sponsoring the MEED Abu Dhabi Conference which continues until 11 November 2008.