Emaar Utilities will focus on enhancing customer service, and promote water conservation measures and sustainable environmental practices.
Mr Ahmad Al Matrooshi, UAE Managing Director, Emaar Properties, and Mr Les Bell, Regional Director, United Utilities, signed the joint venture in Dubai to set up Emaar Utilities. Mr Al Matrooshi will be Chairman of the Board of the new entity, which will have three representatives from Emaar and two from United Utilities. The joint venture will derive synergy from both the companies but will work independently as a stand-alone profit centre. Emaar Utilities will eventually provide utilities management support to other developments in the region, and will also explore project development options.
Mr Al Matrooshi said: "Utility Management is one of the key areas in overall project management and has a critical role to play in managing water and energy resources. Through the new company, we are bringing all utilities management services of Emaar under one umbrella which will enhance customer service standards. Alongside, we aim to implement practical water conservation measures and sound environmental practices."
Mr Al Matrooshi added: "United Utilities is the largest listed utility company in the UK and has proven expertise in operating and maintaining utility assets including water, wastewater, electricity and gas. Our partnership will strengthen the roster of services offered to our customers and also bring in the technology advantage of United Utilities."
United Utilities has a turnover of AED 17 billion and provides utility services to one-in-four of the UK population. The company serves over 20 million people worldwide, and recently opened an office in Abu Dhabi.
Mr Bell said: "I'm delighted that Emaar and United Utilities will be working together to explore opportunities that build on our core skills of operating utility infrastructure."
In a further endorsement of the joint venture, Mr John Hawkins, Consul General at the UK Embassy in Dubai, said: "We are delighted about this new agreement between United Utilities and Emaar which helps to further strengthen the solid trade and business links between the UK and Dubai."
Emaar Utilities will provide utility infrastructure management support to Emaar's projects in Dubai including the 500-acre Downtown Burj Dubai, which has Burj Dubai, the world's tallest building at its centre; Arabian Ranches, the premier desert-themed neighbourhood; Dubai Marina, one of the first and largest of its kind waterfront developments in the region; and Emirates Living, a cluster of master-planned neighbourhoods.
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Emaar forms joint venture with UK-based United Utilities for utility infrastructure management
- United Arab Emirates: Tuesday, December 11 - 2007 at 15:50
- PRESS RELEASE
Emaar Properties PJSC, the global property developer with a presence in 36 active markets, has signed a joint venture with UK-based water and wastewater management leader United Utilities to set up a new firm - Emaar Utilities that will undertake the utilities management of all Emaar projects in Dubai.
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About Emaar Properties PJSC:Emaar Properties PJSC is one of the world's largest real estate companies and is rapidly evolving to become a global provider of premier lifestyles. Powered by its Vision 2010 to become one of the most valuable companies in the world, Emaar is charting a new course of growth with a two-pronged strategy of geographical expansion and business segmentation. Emaar has highlighted its remarkable global growth by debuting on the Financial Times Global 500 ranking, which provides an annual snapshot of the world's largest companies. Emaar has been assigned A- and A3 ratings with stable outlook by Standard & Poor's and Moody's Investor Services, respectively.
Replicating its successful business model in Dubai, Emaar is extending its expertise in creating master-planned communities to international markets. Emaar is also developing new competencies in malls, hospitality & leisure, education, healthcare and financial services, which have evolved from its integrated approach to customer service and property development.
Listed on the Dubai Financial Market, part of the Dow Jones Arabia Titans Index and certified to ISO9001:2000 for quality standards, Emaar is developing Burj Dubai, the world's tallest building and free-standing structure, and The Dubai Mall, one of the world's largest shopping and entertainment destinations. In Saudi Arabia, Emaar is developing the US$26.6 billion King Abdullah Economic City, the region's largest private sector-led project. Emaar's portfolio currently covers the following countries: the UAE, Saudi Arabia, Jordan, Syria, Lebanon, Morocco, Egypt, Turkey, Libya, Algeria, India, Pakistan, Indonesia, the US, the UK, France and Canada.
An award-winning developer, Emaar has strengthened its product sale competencies, market reach and best practices through strategic acquisitions and joint ventures. Emaar acquired John Laing Homes, America's second largest privately held home builder; Hamptons International, UK's premier realtor; and formed a joint venture with US-based Turner International to strengthen execution capabilities.
Emaar has joined hands with Giorgio Armani and Accor Hotels to strengthen its presence in hospitality, and will launch ten luxury Armani Hotels & Resorts world-wide and 100 Formule 1 budget hotels in India. The company is opening educational institutions and healthcare centres in South Asia, Middle East and North Africa and the Subcontinent. Emaar acquired Singapore-based leading education provider, Raffles Campus, to extend expertise to its educational institutions.
Emaar holds 30 per cent equity in Dubai Bank, focused on retail and commercial banking. Emaar is also the largest shareholder in Amlak Finance, UAE's leading Islamic home financing company. For more information, visit www.emaar.com.
About United Utilities PLC:
A FTSE-100 company with annual turnover of US$4.0 billion, employing over 9,000 people, United Utilities PLC operates and maintains utility assets - water, wastewater, electricity and gas. Delivering approximately US$6 billion capital investment programme for 2005-2010 to improve utility infrastructure and environment in north west England, United Utilities provides utility services to over 20 million people worldwide.
For further information, please contact:
Kelly Home / Nivine William
ASDA'A Public Relations
Exclusive Affiliate of Edelman PR Worldwide in MENA
Tel: (+971 4) 334 4550;
Fax: (+971 4) 3344 556
United Utilities press office
Tel: +44 (0) 1925 237 088
Posted by Lara Lynn Golden, News EditorTuesday, December 11 - 2007 at 15:50 UAE local time (GMT+4)
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