Emaar paves way for Downtown Dubai

Emaar Properties has set its sights high, with plans to create the big city 'buzz' through its development of Downtown Dubai as a vibrant urban district to match New York's Lower Manhattan, London’s West End and Paris’s Left Bank.

  • United Arab Emirates: Tuesday, June 22 - 2004 at 14:23
  • PRESS RELEASE
Emaar's Burj Dubai Development...the heart of Downtown Dubai.
Emaar's Burj Dubai Development...the heart of Downtown Dubai.

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Robert Booth, Emaar Properties’ Executive Director, said Downtown Dubai will equal, if not surpass, some of the globe’s finest downtowns and will further raise Dubai’s towering image across the world.

“Great cities have one thing in common. Great downtowns. And great downtowns translate into great local economies,” Booth said. “People judge cities by their downtowns. It is the city’s heart and soul that the rest of the world looks to in order to understand a community. I’m glad Emaar has once again carried out its mandate of elevating the city’s global image to another level.”

At the heart of Downtown Dubai will be Emaar’s Burj Dubai Development, a pulsating core offering a city within a city, characterised by high energy entertainment, stylish shopping and dining options that will range from gourmet excellence to offbeat exotic.

Downtown Dubai itself is expected to duplicate the electric 24-hour pace of its counterparts in New York, for example, and will be a working, living and entertainment neighbourhood.

The iconic Burj Dubai tower and The Dubai Mall – imposing cornerstones of the development – are potent symbols of the scale of Emaar’s ambition to see the downtown area take shape.

Edging up against the boundaries of the new Dubai Financial Centre – after all Downtown New York has Wall Street - and adjacent to Sheikh Zayed road, the emirate’s main conduit, Downtown Dubai will eventually become one of the most desirable pieces of real estate in the world.

Emaar’s 400-acre Burj Dubai Development will give it the core features that have been central to the creation of the likes of Lower Manhattan and some of the more desirable parts of London. It will certainly stand comparison with these and similar districts once it has been completed.

The foundations are being laid with the The Boulevard a 3.5km stretch of exquisite architecture drawing on styles from around the world The Residences’ exclusive upscale apartments and the stylish antiquity of The Old Town all soon to become a gorgeous reality.

All of which should contribute to making Downtown Dubai the new heart of the emirate, a focus for activities and a centre, which will act as a magnet, drawing in the various communities.

It signals once again Emaar’s pioneering role in adding value to Dubai to boost its appeal in the global marketplace.

“It is the result of conscious planning, aimed at creating a compact place with a lively mixture of activities. Cities like New York, London, Paris, Sydney have developed their own brand of downtowns which have enhanced their status,” Booth said.

“We have spared no details for the Burj Dubai Development. We’ve taken the best of what great downtowns have to offer, woven it into the Arab context and developed our own unique concept. We’ve put housing, shopping, offices and public gathering places close to one another, allowing residents to walk to work, to shop, to dine, to parks and other public facilities.”

Booth underscored the importance of Downtown Dubai by saying this high-profile area on Sheikh Zayed Road will be the economic and service centre of the city and the country. He said: “You can’t have a metropolitan area unless you have a centre. Downtown Dubai will clearly be a centre of gravity with its concentration of activities, offices, hospitality retail areas and of course the Burj Dubai Development.

“It will be a place for public expression and celebration, and also the place where there will be room for experimentation and innovation. It will be a vibrant tourist attraction and great place for business.

“Burj Dubai embodies the dreams and aspirations of the people of Dubai. It represents the city's determination to stand head and shoulders above the rest of the world.

“Lots of big businesses in Dubai employ the kind of people who want a great downtown somewhere they can go on a Thursday night and have a nice dinner and maybe meet some people. Somewhere where the street is bustling with people who are having fun.”

Emaar will embellish the unique Downtown Dubai brand by implementing a sophisticated advertising and marketing campaign in key target markets across the region and the world. The campaign will also seek to convey the message behind the concept while underscoring again the value of a vibrant downtown in Dubai.

Emaar is one of the few value-creating companies in the region, which has understood the changing dynamics of urban living, and it has been able to identify new market opportunities as a result. Clearly acknowledged as one of the region’s leading real estate developer, the company has brought in systems and structures that allow it to exploit these opportunities.

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About Emaar Properties PJSC
Emaar Properties is a Public Joint Stock Company listed on the Dubai Financial Market. With an asset base of US$7.7 billion including the land bank, the Company’s vision is ‘Shaping the Future. Today’ by focusing on innovation, meticulous planning and the continuous pursuit of excellence. The Company has witnessed tremendous growth since its inception in 1997 and boasts a rapidly growing tenant base.

Currently, it has several major real estate projects under various stages of development. These developments include Dubai Marina, Arabian Ranches, Gazelle, Emirates Hills, The Views, The Meadows, The Springs, The Lakes, Hattan Homes, The Greens, Emaar Towers and Residences at Burj Dubai. The company also owns and manages the Gold and Diamond Park, and has started construction on its most ambitious project to date, the Burj Dubai - the tallest skyscraper in the world.

While Emaar continues to actively pursue expansion in its core business of innovative, high quality real estate development, it has diversified into related business lines to further build value for its 41,000 shareholders. In line with this corporate belief, Emaar also owns and manages four subsidiaries – Dubai Bank, focused on retail and commercial banking, Amlak Finance, UAE’s first mortgage finance company, EMRILL, a joint venture with the UK-based Carillion which provides innovative property and facilities management services, and its technology and communications company, Sahm Technologies.
Anne-Birte Stensgaard Posted by Anne-Birte Stensgaard, Senior News Editor
Tuesday, June 22 - 2004 at 14:23 UAE local time (GMT+4)

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