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Major international accolade for Dubai skyscraper

80-storey INDEXTM building wins "2011 Best Tall Building Award" for the MEA region and now finds itself in the running for the "Best Tall Building Worldwide Award"

Dubai, UAE - 16 June 2011:- In a landmark achievement that reinforces Dubai's preeminence in the regional architectural landscape, INDEX^™, the iconic 80-storey building developed by Union Properties , has been awarded the prestigious "2011 Best Tall Building Award" for the Middle East and Africa region by CTBUH (Council on Tall Buildings and Urban Habitat).

INDEX^™ was chosen the winner by the CTBUH Awards Committee, comprised of six of the world's leading architectural experts and chaired by Richard Cook of US-based Cook+Fox Architects. The award will be conferred at the CTBUH 10^th Annual Awards Dinner which will take place on October 27^th, 2011 at the Illinois Institute of Technology in Chicago.

Further, INDEX^™ now finds itself in the running for the "2011 Best Tall Building Worldwide Award", as the regional win places it among the four nominees for the overall prize, the winner of which will be announced during the Awards Dinner. The 2010 prize for "Best Tall Building Worldwide" was awarded to the Burj Khalifa.

Commenting on the award win, Khalid Bin Kalban, Chairman of Union Properties , said, "This is a major recognition from industry peers from around the world, and a shining testament to the outstanding design and quality of this most unique project."

Kalban added, "INDEX^™ was conceived as an ambitious, multi-functional project that will be the destination of choice for financial institutions and high-powered executives seeking to operate from Dubai, and we are delighted that the project's innovative combination of luxury, comfort and functionality proved so highly appealing to a panel comprising some of the world's leading architectural experts."

A prestigious residential, business and retail development situated right in the heart of Dubai International Financial Centre (DIFC), INDEX^™ is designed by world-renowned architectural firm Foster & Partners, founded by Lord Norman Foster, a pioneer of modern architecture whose iconic, internationally-acclaimed projects include the HSBC headquarters in Hong Kong and the Commerzbank Tower in Frankfurt. The 328-meter building, distinguished by its minimalist design and emphasis on energy conservation, elegantly combines 25 floors of offices, 40 floors of apartments, 7 floors dedicated for penthouses and 3 levels for exclusive retail outlets, in addition to 6 levels of podium parking.

"INDEX^™ is the first of a new era of 'intelligent buildings' that are destined to be the skyscrapers of the future," Khalid Al Jarwan, General Manager, Union Properties , said. "The design of the building reinforces urban density by creating a multi-function tower combining living, working and entertainment spaces as opposed to the increasingly outmoded mono-functional projects."

The CTBUH is the world's leading body in the field of tall buildings and the recognized source of information on tall buildings internationally. It is the arbiter of the criteria upon which tall building height is measured, and thus the title of "The World's Tallest Building" determined.

Union Properties , developers of the INDEX^™, is one of the largest property developers in the region with an extensive portfolio that features some of the most prestigious projects in the UAE, including among others MotorCity^™, UPTOWN Mirdiff^®, Green Community^®, and the ultra-luxury residential project Limestone House^™ located at Dubai International Financial Centre (DIFC).

"Over the last two decades, Union Properties has established itself as one of the most innovative developers in the UAE, delivering a comprehensive range of world-class projects distinguished by its superior quality and groundbreaking design," Kalban said. "The last few years have been very tough for the property market, with the challenging external condition putting extreme pressure on project deadlines, but our strong fundamentals and organizational resilience, along with carefully considered asset restructuring, have allowed us to step into the future with renewed confidence. Our net profit jumped 64% in the first quarter of 2011, and we are positive we can sustain the growth momentum through the rest of the year and beyond."

-Ends-

Union Properties
Union Properties PJSC, one of the UAE's leading property investment developers and a public joint stock company established in 1993, is totally committed to providing quality service in everything it does. The success of Union Properties is built upon six basic principles forming the company's ethical code; these being quality, service, innovation, care, trust and diversity. Embedding these six values into every faceted aspect of the operation has enabled Union Properties to leverage itself as a leader in its field. Union Properties has an outstanding reputation for professionalism and integrity throughout the United Arab Emirates, serving public institutions, multinational corporations, the business community and the private sector. You can visit Union Properties at www.up.ae

Media contact:
Sue Ellen Lazrado
Headline Public Relations
Tel: +9714 - 2289655 Extension 218;
Fax: +9714 - 2282125
Email: sue@headlinepr.com

© Press Release 2011