A UAE real estate developer has announced construction milestones at key developments and confirmed it will introduce new finance deals.
Last week executives at Sorouh Real Estate said changes to buying options were on the cards, with newspaper The National saying a rent-to-own style investment finance was one idea being looked at.
The firm has now said a range of new financing deals will appear in the “coming weeks”, although a statement had no further detail on rent-to-own deals for real estate buyers.
Sorouh, based in Abu Dhabi, is behind some of the most iconic real estate projects in the emirates, including Shams Abu Dhabi on Al Reem Island (pictured).
The company also gave an extra boost to those who have already bought as an investment, saying the “topping” of two towers was about to take place.
The firm said: “Additional new financing options will be introduced for properties on each of Sorouh’s developments which are under way, including Sun and Sky Towers, The Gate District at Shams Abu Dhabi, and alghadeer”.
Simon Cunningham, the firm’s executive director of sales and marketing, also said work was “pushing ahead” and the topping out of Sun and Sky Towers, plus completion of the first show villas at alghadeer, would be reached “in the coming weeks”.
Sorouh has already introduced new measures to help investment, including the formation of Abu Dhabi finance, a new mortgage company.
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