Jun 18 2008

Escan and ACI launch AED 2 Billion Escan Tower on Sheikh Zayed Road

Escan and ACI launch AED 2 Billion  Escan Tower on Sheikh Zayed Road
First of its kind freehold boasts 60 floors of light - infused living and work space
Wednesday, June 18, 2008, Dubai: Escan Real Estate and ACI Real Estate today launched AED2 billion freehold property along Sheikh Zayed Road. The staggering 60 storey sky-scraper is the first of its kind, strategically located along the main thoroughfare linking Dubai to the capital, Abu Dhabi. The Escan Tower, will offer more than half a million / 570,000 square feet of mixed-use space that has been architecturally defined to offer all-angle views, and infused with abundant natural light.

Built with clear aesthetic guidelines to capitalize on surrounding sights, Escan Tower will offer generous sweeping views of the waterfront by day, and by night the famous city lights overlooking Sheikh Zayed Road, and the majestic Burj Dubai located just meters away. The property offers 20 commercial and 40 residential floors, as well as high end retail and dining facilities.

Developers, Escan Real Estate , have teamed up with ACI Real Estate in bringing the project to market, and the partners made clear mention that the project marked a staggering achievement for both, on many fronts.

Commenting on the partnership Mr Saeed Matar Bin Belaila, Chairman. Escan Real Estate this morning said, "Escan Tower is a first on many fronts not only for its impressive aesthetic appeal, and rare freehold status on prime real estate, but importantly it also marks the first step in our collaborative successes with ACI. We have deep respect for ACI's insightful understanding of the market and international alliances, and believe their efforts shown to date uphold our shared mission of delivering with unyielding energy and commitment to excellence."

Mr Juma Al Falasi, CEO, Escan Real Estate further added," Synergies are important in partnerships to yield uncommonly high gains, and Escan Tower is no doubt evidence of what can come of two equally energetic and committed entities. We have several projects coming up soon in Fujairah, Abu Dhabi and Dubai. The prospect of further collaborations with ACI again holds tremendous appeal."

On behalf of ACI Real Estate , Mr Robin Lohmann, managing director said, "Escan Tower clearly distinguishes itself in many important facets. Importantly it lends testament to the unsurpassed benefit that can only come from building strength upon strength to achieve a single spectacular vision. We at ACI are excited about further collaborative successes with Escan Real Estate in the near future." ACI is the name behind some of the UAE's most distinguished real estate projects, and continues to work toward distinguishing itself as a firm committed to its mission of 'purposeful endeavor and business with integrity."

The commercial segment of the tower will feature a stately business center fully equipped with world class facilities. Managed by ACI, talks are now underway to brand the business center separately and an announcement is expected shortly.

Encapsulating the epitome of elegant living, the building is sprinkled with superb yet subtle final touches including high speed elevators, high-end retail, discreet comfortable cafes, and luxuriant entertainment facilities including a private swimming pool, men and women spa facilities, and games room. The Escan Tower is slated for completion by 2011.

The property is developed by Escan Real Estate , and brought to market by ACI Real Estate the name behind some of the region's most sought after projects including the Sports Legend Trilogy.


About Escan Real Estate :
Escan Real Estate is one of UAE's most dynamic real estate development and investment firms. It is ideally positioned to leverage the spurt in economic activity within the country, building on company's impressive bouquet of value-added services, and high talent quotient. Armed with insightful industry knowledge, market understanding, and a firm grasp of important economic fundamentals, the company is well on track to become a dominant player in the UAE property market. The company has an international network of alliances that includes reputed corporations across USA, France, Italy, United Kingdom, Australia and Malaysia

Growing exponentially Escan is built on the core principle of the pursuit of excellence in all they do. The team of professionals securing this principle is drawn from diverse backgrounds

Its diverse portfolio includes Real Estate Development, Business Enterprises, Hospitality Development, Community Service, Industrial Projects and Logistics.

About ACI Real Estate :
ACI Real Estate is an affiliate of Alternative Capital Invest (ACI) GmbH, an innovative investment firm headquartered in Germany, representing some 8000 investors from Austria, Germany and Switzerland.

Headquartered in Dubai, ACI now has a staff of 50 talents drawn from across the globe, and a new field office in Abu Dhabi.

To date investment in the emirates is estimated at UAE 10 billion Dirham in leisure, residential, retail and commercial space across Dubai, Abu Dhabi, and some of the northern emirates.

ACI Real Estate is the name behind of the 'Sports Trilogy' project valued at UAE 2.2 billion Dirham (over USD 600 million) named for sporting legends: Niki Lauda, Michael Schumacher and Boris Becker, situated along the upscale Business Bay and the world's first 'Marine Legends' project valued at UAE 6 billion Dirham (approx USD 1.6 billion) to be situated along the Dubai's Waterfront.

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© Press Release 2008

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