Sorouh one of the top brands in the GCC
08 August, 2010
Sorouh Real Estate today announced 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.
The ranking, which is produced annually by London-based Brand Finance Plc, the world’s leading branding valuation consultancy, focuses on the Brand Value (BV) and the Enterprise Value (EV) of regional companies. It also looks at the BV/EV ratio, a metric that effectively shows what proportion of the enterprise value is made up by the brand value.
This year’s report places Sorouh 44th, a rise from last year’s ranking of 47th and estimates that Sorouh’s current brand value is USD 199m, as rise of 24 per cent from 2009. Sorouh was the only real estate developer in the category to enjoy a rise in its brand value. Brand Finance forecast that as the global economy recovers, regional brands are capable of building brand value at a substantial rate.
Paul Middleton, Marketing Director, said:
“This is a great achievement for Sorouh and yet another confirmation that our marketing efforts are working. Despite a challenging year for the real estate sector, Sorouh managed to increase its brand value by more than 24 per cent. The improved website has received numerous awards and our promotional campaigns “Why Rent?” and “Lease-to-own” have been very well received by our customers. The ranking is encouraging and we will continue to build the Sorouh brand. ”