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Monday, November 9 - 2009

GIO Developments announces main contractor for Maiden Real Estate project - G-Emporium

  • United Arab Emirates: Thursday, August 14 - 2008 at 17:10
  • PRESS RELEASE

Executives at GIO Developments, part of Galadari Investment Office (GIO), have announced the appointment of Simplex Infrastructures as main contractors for the construction of the G-Emporium, GIO's premium development in City of Arabia, which includes the residential G-Tower and the commercial G-Office tower.

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  • G-Tower.
    G-Tower.
Simplex Infrastructures, a leading service provider of infrastructure and construction, will build the two 280m high, 45-storey towers, the contract for which is worth $360m, with completion of the project set for 2010.

"With architectural icon Alex Vacha conceptualizing the exteriors and world-renowned and award-winning designer Philippe Starck responsible for creating customized interiors, it was imperative that the execution of G-Emporium met the extraordinary standards already set. Simplex Infrastructures long-standing reputation for quality and professionalism gives us that assurance and we look forward to working with them to realize this collaborative vision of a revolutionary design masterpiece - the G-Emporium,"

said Rashid Abdul Wahab Galadari, chairman, GIO.

With more than 80 years of experience, Simplex Infrastructures Limited is one of only a handful of construction companies in India with an annual turnover of $650m.

The company's portfolio speaks for itself and its track record, both locally and internationally, is impressive, and includes the successful completion of sub-structure work on the highly-anticipated Dubai Metro project.

"Simplex Infrastructures admires the vision of GIO and is delighted to add them to our growing portfolio of world-class clients. To play such an integral role in the creation of such a magnificent development is thrilling and we remain committed to ensuring the continued success of this project,"

said Ani Ray, Country Director, Simplex Infrastructures Ltd.

Construction of the G-tower has already commenced with piling on the G-office poised for completion in November 2008.

More than 130 construction workers took just 63 days to complete piling on the G-tower, using state-of-the-art equipment including five drilling rigs, three crawler cranes, one JCB and one shovel.

"To give you an idea of scale, most developers would mobilize one or two drilling rigs for a tower of this size. Our decision to employ extra equipment and staff was made to ensure that the complete project, which includes both towers, will be executed on time and to the highest of standards,"

said Ali Korhan Durmus, commercial director, Al Habtoor STFA Soils Group, who were piling contractors for the G-Tower.
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Notes and media contacts

About GIO:

GIO Developments is part of Galadari Investment Office (GIO), the luxury holding group owned personally by Rashid Abdul Wahab Galadari. Following the entrepreneurial lineage of the Galadari Group, Rashid A.W. Galadari established GIO to diversify and grow his portfolio of businesses internationally.

GIO is the latest venture of the renowned Galadari Group, a family-owned business based in Dubai, UAE. Established more than 100 years ago, the Galadari Group has remained in synch with emerging economic trends and opportunities and managed to evolve into one of the region's most prominent commercial groups. Its activities range from having built the first 5-star hotel in Dubai (Intercontinental - 1975, and the Hyatt Regency - 1979) to having high profile consumer brands sold through retail outlets, including automotive brands, incorporating media ownership and even the supply of heavy industrial plants.

GIO Developments' real estate portfolio ranges from residential property management to property investment leasing, sales, land acquisition and development. Established in 2005, GIO Developments aims to transform the property landscape in the region by developing a series of projects that transcend the norm and break conventional barriers. GIO Developments wants to be recognized as a truly international property brand that delivers world-class service to a rapidly growing market.

GIO's advent into the market is an indication of the Galadari Groups' vivid foresight and planned response to changing market conditions and shifting consumer needs. GIO Developments currently has over Dhs3.2bn worth of assets under construction.

The flagship project currently under development is the G Emporium, a project with yoo limited, a Philippe Starck company. Two 280m high, 45-storey towers form the core of this project. The G Tower is purely residential, and the G Office Tower is a completely commercial offering. They combine to form an onyx tribute to opulent living and working in spaces conceived for the ultimate in luxury.

For further information, kindly contact:
THE GUILD
Dubai, United Arab Emirates
T: +971 4 375 5885
F:+ 971 4 429 3627

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