Sabban Property Investments completes construction of superstructure on the QR1bn Sabban Towers

The developer recently held a 'Topping-Out' ceremony with the final super structure cement laid, using specially designed Golden Trowels, by Mr. Issam Al Sabban, CEO of Sabban Property Investments and Mr. Khaldoun AbouSaleh, Managing Director of Afrina Trading and Construction Company (SPI's contractors) in the presence of other senior management from SPI and Afrina. The developer also revealed that it has reduced its carbon emissions by 14.4% by investing into value-added engineering processes in the construction phase as a part of its decision to make the Sabban Towers the first carbon neutral development in the region.

SPI has partnered with The CarbonNeutral Company (TCNC) to achieve carbon neutral status for the Sabban Towers by assessing, reducing and offsetting its greenhouse gas emissions. To date, the developer has invested in carbon offsetting projects including a forestry program in Uganda, a renewable energy plant in New Zealand and an energy efficiency program in Jamaica, and will be announcing the second phase of offset projects shortly.

"The timely completion of the superstructure marks our dedication to deliver our projects to customers as soon as is practically possible and to continue our efforts to remain transparent and open about progress at all times," said John Browne MBE, Managing Director of Sabban Property Investments. "In addition, our carbon footprint analysis showed that most significant contributors to Sabban Towers' carbon footprint were the use of concrete and steel. We were able to reduce consumption of both by utilizing better building materials, which needed more highly skilled labour to work with specialized materials. This in effect created a better building for our clients and the environment at no extra cost. Our decision to implement value-added engineering and reduce our footprint by such a significant amount reiterates our firm's commitment towards the environment and we hope to raise industry benchmarks by implementing sustainable environment practices."

The developer has utilized high thermal value block cladding, which optimizes insulation and lowers the need for artificial cooling. Changes in the electrical and mechanical specifications including low-energy lighting and the usage of Class A appliances in all units of the Sabban Towers will also minimize future energy consumption. Moreover, patented skim coat plaster was used to replace materials for the finishing of the internal walls, again reducing the need for cement.

"Environmental protection and climate change are important issues for SPI and its employees as well as for our investors and end-users. We have made sustainability the overriding focus of our CSR initiatives, and we are poised to continue investing in projects that minimize the impact of our activities on the environment. As an industry leader, we are paving the way for other developers to build high-end and environmentally sound property projects without passing on the costs to clients,"

concluded Browne.

SPI launched Florentine Tower in September 2005 and following the near complete sell-out of the tower, launched Provencal, the second tower, earlier this year at the Qatar Real Estate Exhibition 2007, where it was the Gold Sponsor. Provencal, which offers a total of 178 luxurious apartments with a choice from one to five-bedroom penthouses including 35 one-bedroom, 78 two-bedroom, 60 three-bedroom, 2 four-bedroom and 4 duplex penthouses, is currently under construction with the developers on track for completion and delivery in the second quarter of 2008.