Levallois-Perret, France - 03 July, 2008: MBI International & PartnersMBI International & Partners, the global group that combines the companies owned by self-made Arab entrepreneur Sheikh Mohamed Bin Issa Al JaberMohamed Bin Issa Al Jaber, announced its investments in a two unique towers project to become the local business landmarks on the Parisian border - "Les Tours de Levallois": Two towers - 38 floors - 164m high with a common base of 2 levels from the ground floor.

The signature of the agreement between MBI's Chairman Sheikh Mohamed Bin Issa Al JaberMohamed Bin Issa Al Jaber and Levallois-Perret's Mayor Mr Patrick Balkany takes place today, June 30th at 11 a.m. at the Town Hall, in the presence of Mrs Christine Lagarde, Minister of Economy and Finances, and of Mr Patrick Devedjan, President of the Hauts de Seine General Counsel.

This project is one of the most important investments for the next 10 years in the Parisian inner-city suburbs. It is located on the banks of the Seine river and will comprise around 85,000 sqm of office space; a 400 rooms luxury hotel (35 000 sq m²) owned and managed by JJW HotelsJJW Hotels, with a VIP restaurant, a pool and a SPA; and a 6 floors parking garage accommodating over 1400 cars. The total net area of the project is 125 000 sqm.

Sheikh Mohamed Bin Issa Al JaberMohamed Bin Issa Al Jaber, Founder, Chairman and CEO of MBI International & PartnersMBI International & Partners comments: "MBI is focusing its expansion at the luxury end of the real estate business. This investment comes to crown 20 years of business presence in France. It will not be the last as we will continue to expand in the business and hospitality sectors of this country". This major investment demonstrates the strength of MBI InternationalMBI International and their ability to identify quality assets in growing areas of the capital.

On the other hand, Mayor Patrick Balkany applauded this business venture and said: "Sheikh Mohamed in Issa Al Jaber, known as a philanthropic and a successful businessman is considered today a major player in the French hospitality and business sectors, with a strong track record that is based on 20 years of continuous achievement in Europe, we are confident that "Les Tours De Levallois" will soon become another iconic and prestigious development that will boost the surrounding area and position itself as a major development in the French Capital".

MBI InternationalMBI International selected the renowned architects Pierre Epstein and Sylvain Glairman to design the project, that has already achieved planning permission, and that should be delivered by end 2012. As with all of its new build projects, the towers will be of High Environmental Quality (HEQ) which includes lower energy consumption, limiting waste and rationalizing maintenance. Levallois-Perret is a thriving economic district which is near La Defense, a major business center and easily accessible from Parisian airports, train stations and motorways.

The proximity of Levallois to the French capital is a great business advantage. Levallois is today the chosen spot for over 3 500 business leaders including L'Oréal, Carrefour, Alstom, and BASF. Just minutes from the Champs Elysées and La Defense business district, the location offers a building surface area impossible to attain within the Paris city limits: the Tours de Levallois promises to be a pioneering project unique in the heart of Europe.

To sustain this project, MBI would lean on its traditional financial partners such as BNP Paribas, JP Morgan, Merryl Lynch, Deutsche Bank and Standard Bank.

-Ends-

About MBI International
MBI InternationalMBI International and Partners is the global group that combines the companies owned by self-made Arab entrepreneur Sheikh Mohamed Bin Issa Al JaberMohamed Bin Issa Al Jaber. The group enjoys a net asset worth $6.6 billion. It employs 11,000 people and operates in Middle East and across Europe and the United States.

MBI InternationalMBI International and Partners comprises four key entities:
JJW HotelsJJW Hotels and Resorts, which operates in the hospitality industry and that owns and manages more than 60 hotels and resorts in Europe, the Middle East and North Africa, with a significant operational presence in France, UK, Portugal, Austria and Egypt. www.jjwhotels.com

AJWA Group for Food Industries, one of the major players in the agribusinesses in the Middle East. www.ajwa.com

Jadawel International, a major real estate development company that owns and operates exclusive luxury residential compounds in the Middle East region. www.jadawel.com

Continent Oil for Petroleum Investments, an active entity in oil and gas investment. www.continentaloil.com

MBI InternationalMBI International is also active in investing in banks and financial companies.
Sheikh Mohammed Bin Issa Al Jaber and through the MBI Foundation is directly involved in many charitable and educational activities and actively promotes the humanitarian, business and cultural interests of the Arab World. His desire to provide practical assistance to the community has led him to offer scholarship programs to deserving students from the Middle East to enroll in the top universities in the Middle East, Europe and the States such as Cambridge, Oxford, UCL, Westminster, LSE, City University, AUB and AUC. Sheikh Mohammed Bin Issa Al Jaber is also the founder of the Middle Eastern Studies School at University of London, while he also grants scholarships for Tourism and Hotel Management studies at MODUL University in Vienna in which MBI Foundation was a major contributor in its formation. He is also the special envoy to the General Manager of UNESCO for Education, Tolerance, Peace and Democracy.

For more details: Please visit www.mbiinternational.com

© Press Release 2008

 

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