Emaar's Iconic Burj Dubai Scales Level 50 - Construction on Schedule for 2008 Completion

- Work on World's Tallest Tower Progresses at One Level Every Four Days



    DUBAI, United Arab Emirates, June 20 /PRNewswire/ -- Global real estate
 major Emaar Properties marked a milestone in its historic quest to build
 the world's tallest tower as the AED 3.673 billion (US$1 billion) Burj
 Dubai scaled 50 levels today.
     (Photo: http://www.newscom.com/cgi-bin/prnh/20060620/NYTU127)
     This remarkable feat in the construction of Emaar's iconic super tower
 at the Burj Dubai Downtown development was accomplished in less than 900
 days since excavation work started in January, 2004. Work is on course for
 a 2008 completion with one new level added every four days.
     "This is a significant moment for us," said Mr Mohamed Ali Alabbar,
 Chairman, Emaar Properties. "We are witnessing 'History Rising' - on
 schedule. With the world's eyes on Burj Dubai, this is a moment of pride
 not only for Emaar but also for Dubai. The super tall tower, now at level
 50 and going strong, is a symbol of Dubai's aspirations and capabilities."
     Designed by Chicago-based Skidmore, Owings & Merrill (SOM), Burj Dubai
 is being constructed by high-rise construction experts South Korea's
 Samsung Corporation, and Turner Construction International is the project
 and construction manager.
     Over 3,000 workers are currently working on the Burj Dubai. More than
 160,000m3 of high-quality concrete and 25,000 metric tons of steel rebar
 have so far been used in the construction. Specially developed concrete
 pumps are employed to generate 350 bars of pressure and pump to a height of
 600 metres.
     Eleven cranes and the world's fastest high-capacity construction hoists
 - with a speed of up to 2 m/sec (120 m/min) - are used to move men and
 material to the lofty heights.
     Burj Dubai is a pioneering example of entrepreneurial vision,
 architectural capabilities and engineering prowess meeting to create a
 towering international landmark.
     "Burj Dubai is more than a tower; it is a global statement that will
 put Dubai firmly in the minds of the rest of the world. The tower boosts
 civic pride by creating an unparalleled landmark that demonstrates the
 capability of the UAE people to implement any project regardless of its
 size or challenges," added Alabbar.
     Blending retail, commercial and residential spaces, the Burj Dubai
 derives design inspiration from a desert flower and features architectural
 elements that celebrate the Islamic heritage of the region.
     The fast-track construction employs modern building techniques
 including the use of self-climbing formwork for walls and prefabricated
 rebar cages. The tower has a base floor plate of 33,000 sq. ft., which
 tapers as the structure rises skywards.
     Burj Dubai will feature the exclusive Armani Hotel designed by Giorgio
 Armani, luxurious corporate suites and offices, serviced residential
 suites, apartments, four swimming pools, restaurants, exclusive resident's
 lounge's, 15,000 sq. ft. of fitness facilities, recreational and
 entertainment facilities and an observatory, planned for the 124th level,
 offering spectacular views of the city and the Arabian sea.
     Safety and security features - against high wind velocities, soaring
 summer temperatures, seismic disturbances, fire and other threats - have
 been incorporated into the design of Burj Dubai. "The project capitalizes
 on the latest advances in wind engineering, structural engineering,
 structural systems, construction equipment, materials and methods," said
 Greg Sang, Assistant Director - Projects, Emaar Properties.
     Burj Dubai is part of Emaar's 500-acre mixed use AED 73 billion (US$20
 billion) Burj Dubai Downtown development which combines commercial,
 residential, hotel, entertainment, shopping and leisure outlets, with open
 green spaces dotted with lakes and water features.
     Ongoing projects within Burj Dubai Downtown include The Old Town and
 Old Town Island, The Dubai Mall, Burj Dubai Business Hub, The Lofts, Burj
 Views, South Ridge, Burj Dubai Boulevard, The Residences and 8 Boulevard
 Walk.
     Note to Editors
     About Emaar Properties PJSC:
     Emaar Properties, the Dubai-based Public Joint Stock Company and one of
 the world's largest real estate companies, is listed on the Dubai Financial
 Market and is part of the Dow Jones Arabia Titans Index. The company
 recently announced that its net profits for the first quarter ended 31
 March 2006 reached AED 1.517 billion (US$413.1 million) - a significant
 rise on the AED 1.325 billion (US$361.0 million) for the equivalent period
 from the prior year. Emaar's net profits for the year ended 31 December,
 2005 climbed 180 per cent, to a record AED 4.731 billion (US$1.288
 billion). The figures represent a substantial increase on the AED 1.691
 billion (US$460 million) for the year 2004, and reflect the significant
 growth the company has undergone since its inception in 1997.
     With more than 13,000 homes handed over to satisfied customers, Emaar
 has several major real estate projects under various stages of development
 in Dubai including Arabian Ranches, Dubai Marina, Emirates Hills, The
 Views, The Meadows, The Springs, The Lakes and The Greens. The company also
 owns and manages the Gold and Diamond Park.
     Emaar has started construction on its most ambitious project to date,
 the AED 73 billion (US$20 billion) Burj Dubai Downtown development, which
 comprises the Burj Dubai - the tallest tower in the world when completed in
 2008, The Dubai Mall, Burj Dubai Business Hub, The Lofts, The Old Town, The
 Old Town Island, Burj Dubai Boulevard, The Residences, Burj Views, man-made
 lakes, landscaped parks and gardens.
     The company has joint ventures and projects across the region covering
 India, Egypt, Turkey, Morocco, Syria, Pakistan, Tunisia and Saudi Arabia.
 Major international projects include: Cairo Heights and Smart Village, both
 in Egypt; Boulder Hills, a world-class leisure and residential community in
 Hyderabad, India; multiple resort projects in Morocco, including Amelkis II
 & III and Bahia Bay, luxury residential golfing communities; Eighth Gate
 project in Damascus, the city's first master planned community; and
 Lakeside in Istanbul, a landmark development for Turkey's cultural and
 commercial hub. In Saudi Arabia, Emaar is embarking on the creation of the
 AED 98 billion (US$26.6 billion) King Abdullah Economic City, a mixed use
 development covering 55 million square metres of greenfield land with a 35
 km shoreline close to the port city of Jeddah.
     Last year the award winning property developer announced plans to
 aggressively expand the retail sector with investments of over AED 15
 billion (US$4 billion) to develop approximately 150 malls in the mega
 emerging markets of the Middle East, North Africa and the Indian
 subcontinent. In addition, Emaar has teamed up with Giorgio Armani S.p.A to
 build and manage 10 Armani hotels and resorts across the world; an Armani
 hotel will feature in Emaar's flagship Burj Dubai tower.
     Emaar has also made rapid strides internationally with the acquisition
 of America's "best builder" John Laing Homes for AED 3.856 billion
 (US$1.050 billion), a strategic move that has firmly perched Emaar in the
 international spotlight. The partnership with John Laing Homes is another
 reiteration of Emaar's strategy of expanding its business on a global basis
 beyond Dubai.
     While continuing to actively pursue expansion in its core business of
 innovative, high quality real estate development, Emaar has diversified
 into related business lines to further build value for its 59,000
 shareholders, which includes the Government of Dubai. Emaar owns and
 manages EMRILL, a joint venture with the UK-based Carillion which provides
 innovative property and facilities management services. Emaar also holds 30
 per cent equity in Dubai Bank, focused on retail and commercial banking and
 is the majority shareholder in Amlak Finance, UAE's leading Islamic home
 financing company. For further information, please visit www.emaar.com.
     For further information, please contact:
     Kelly Home / Nivine William
     ASDA'A Public Relations
     Exclusive Affiliate of Edelman PR Worldwide in Middle East & North Africa
     Tel: (+971 4) 334 4550; Fax: (+971 4) 334 4556
     E-mail: k.home@asdaa.com, n.william@asdaa.com
 
 

SOURCE Emaar Properties

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