Al Burj Real Estate re-branded as USOS Holding

Cityscape Dubai 2007 is the largest business-to-business real estate investment and development event in the world, held from October 16 to 18 at Dubai International Exhibition Centre.

The newly re-branded company, USOS Holding LLC, reflects the company's core vision and values and reiterates its commitment towards identifying new growth opportunities in the regional marketplace. USOS Holding is currently conducting a study of the real estate market and its needs. The research will highlight key industry issues and trends as identified by investors in today's marketplace.

USOS, which means 'foundations' and 'values' in Arabic, embraces the distinct core identity of Al Burj Real Estate. The revamped branding, released after a detailed research, design and testing process will continue Al Burj Real Estate's strategic growth direction, following the impressive success in the Madinat Al Arab - the downtown district of Dubai Waterfront. The company recently registered sales of over AED 3.5 billion for plots in Phase I of Madinat Al Arab. In addition to providing unique investment opportunities, the company also offers an attractive development solutions portfolio to potential investors.

The company had earlier purchased 70 per cent of plots in the phase worth AED 7 billion, making it the biggest investor in Dubai Waterfront. The iconic waterfront plots are to be developed into districts comprising 10 to 50-storey buildings for commercial, resort and residential use.

H.E. Dr. Mohammad Khalfan Bin Kharbash, UAE Minister of State for Finance and Industry and Chairman of USOS Holding, said: 'We are confident that our new USOS branding will propel us to even greater heights at home here in Dubai - and in order to further facilitate this projected growth, we have also decided to move the company from being an offshore-registered entity to a locally-registered one.'

He added: 'USOS is indeed a fitting new corporate identity for us, as we are very much in the business of laying solid foundations of landmark projects which represent the bold new future of Dubai. Our relentless commitment to quality and unparalleled customer service standards will continue in the same manner and we trust our clients will take to our new corporate identity and the new look.'

The company announced a net profit of AED 935 million by end-2006, a noteworthy achievement in its first full year of operations. With a mix of plans and strategic forays, USOS Holding LLC is today one of the biggest real estate investment companies in the region.

USOS Holding board of directors has reaffirmed its commitment to concentrate on strategic investments while exploring new opportunities to collaborate with leading regional and international real estate developers. This strategy forms part of its broader vision to provide attractive real estate opportunities and solutions through prominent partnerships.

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