Combining the talents of the boards of Aldar Properties and Sorouh Real Estate was never going to be easy. One of the driving factors of the deal was create synergies that inevitably start with removing duplicated roles at the top.
It is no surprise that Sorouh’s Gurjit Singh not only found a place on the new board, but has been put in charge of the development of the company’s 77 million m2 land bank.
He has more than 25 years of experience in the real estate industry, having worked for one of Malaysia’s biggest developers, Sime Darby Group, and the Sentosa Leisure Group in Singapore, responsible for the $8bn Sentosa Resort.
Since joining Sorouh, he has taken responsibility for key schemes like the complex Gate Tower project at Reem Island in Abu Dhabi, a $1.7bn construction contract by Arabian Contracting Co. It won overall commercial development of the year at Construction Week’s 2012 awards, as well as helping Sorouh to pick up the Developer of the Year prize.
Speaking to Construction Week at the awards, Singh predicted an improvement in the property market in Abu Dhabi which would create “stability” across various asset classes and allow for empty stock to be absorbed.
“You will see the market coming back in a more sustainable way,” he said. “I think that will be good for everyone - all the broad proponents of the broad property sector. The developers, the contractors, the consultants and the end users will certainly find greater value in investing and in working within the real estate life cycle.”