Emaar highlights international projects, Burj Dubai at MIPIM in Cannes

Making its fourth consecutive presence at the international event, Emaar will highlight the company’s flagship project, Burj Dubai, alongside King Abdullah Economic City in Saudi Arabia and master-planned communities in India and Morocco.

“Emaar’s participation in MIPIM 2007 complements our developmental initiatives, which are now aligned internationally,” said Mr Issam Galadari, Managing Director, Emaar International, Middle East and North Africa. “As a global marketplace hosting the world’s high-profile developers and potential investors, MIPIM is a perfect venue for further building our growth momentum. It also positions Dubai’s architectural capabilities and cosmopolitan character to a global audience.”

This year, Emaar has significantly enhanced its participation at MIPIM by 2.5 times. Key attractions at the company’s pavilion will include Burj Dubai, on its course to become the world’s tallest tower. “Burj Dubai has scaled over 110 levels and is already in the international spotlight,” said Mr Galadari. “International response to Burj Dubai, following our participation at MIPIM, in the last two years has been strong. We expect MIPIM 2007 to further enhance investor appeal for the project, which will house the Armani Hotel, Dubai that marks our collaboration with Giorgio Armani S.p.A to open luxury hotels in major cities.”

Another highlight of Emaar’s participation at MIPIM is the first exclusive display in Europe of King Abdullah Economic City, the single largest private sector development in Saudi Arabia by Emaar, the Economic City. “KAEC offers investment opportunities in several economic sectors such as industries, retail, hospitality, education and property, and will be of interest to investors who look for viable options in the Saudi market,” added Mr Galadari.

The master-planned projects of Emaar in Morocco – Amelkis II and III, Bahia Bay, Oukaimeden, Tinja and Saphira; Tuscan Valley in Turkey and the various residential and hospitality projects in India will also be showcased at MIPIM. “In Morocco, Emaar is creating value-added lifestyle communities through a Memorandum of Understanding signed with His Majesty King Mohammed VI, King of Morocco, and a joint venture with the ONA Group. Apart from strong regional partnerships in India, Emaar has also signed a joint venture with the Accor group to develop 100 luxury hotels in the country,” said Mr Galadari.

Emaar is a lifestyle developer with diversified interests in education, healthcare, finance, retail and hospitality. The company posted record profits of AED 6.731 billion (US$ 1.735 billion) in 2006 – an increase of 35 per cent over year 2005.