10 March 2008
Leading Canadian developer leverages partnership with top construction company to ensure project's high quality standards

AAKAR Developers, Ltd., a leading Canadian real estate and property developer, has announced that it has recently appointed EllisDon Project Management as the Client Representative for its AED 200 million Canada Business Centre (CBC) Tower in Dubai Business Bay. The announcement is in line with the developer's strategy to leverage partnerships with top Canadian companies to ensure that the highest quality standards will be maintained in the construction of its initial project in Dubai. Further, the developer has also highlighted that its collaboration with reputed partners is part of its commitment to the timely delivery of the tower, which is expected to be among the first developments to be completed in Business Bay.

EllisDon Project Management's role will revolve around monitoring the progress of the Project in conjunction with other consultants appointed by the developer, and ensuring that the project adheres to its predetermined delivery schedule, budget, quality and performance. As the Client Representative, the company will provide professional advice to the developer on issues relating to the tower's commercial and technical aspects, while keeping a close watch on the building systems to make sure that they suit the needs of the end user. The company's focus is to maximise the developer's resources amidst the current escalation in the prices of construction materials and other services, which are necessary to achieve the tower's designated standard of quality.

"Our primary goal of bringing Canadian businesses to the highly dynamic Dubai market is being further reinforced by this partnership with EllisDon Project Management," said Yadvinder Singh, CEO/ President, AAKAR Developers. "Having carefully examined their competencies and outstanding track record both in Dubai and Canada, our trust in them is not merely based on their country of origin but on the level of expertise, which they will be able to contribute for the successful completion of the Canada Business Centre Tower. Forming strategic alliances with highly competent partners is among our key strategies in ensuring the outstanding value of this project for our customers."

With a strong background in construction and project management in Canada, EllisDon Project Management has garnered several prestigious awards such as the 'Best Employer in Canada' award in 2006 and 'Canada's Best Managed Company' Award 2007. The company has also successfully built a strong reputation in the UAE due to its vast global management experience, which benefited a number of high profile developments in Jumeirah Village South, Jebel Ali Madinat Al Arab and Golden Mile 1, 2 and 3.

"The real estate business in the UAE is promising as well as challenging, and is a perfect market for us to introduce our services, which we intend to further expand for the benefit of current and future clients. We have recognised the tremendous opportunity in building a strong relationship with AAKAR, not only to gain a stronger client base in the UAE but more importantly, to support the growth of Canadian businesses especially in Dubai. Through this partnership, we are looking forward to delivering the highest level of quality services tantamount to our strong support for AAKAR's high aims for Canadian enterprises in Dubai," concluded Luc Theberge - Vice President, EllisDon Project Management.

Set to accommodate the regional headquarters of leading and most rapidly growing Canadian businesses in the Middle East and other Dubai-based companies, the CBC Tower will comprise 3 basement levels, 4 podium levels including ground floor and 16 floors of modern offices and 7500 square feet of retail space at the ground level. Strategically located and with a scenic view of the renowned Burj Dubai, the business tower will include high-tech conference rooms, business facilities, and offices, which allow panoramic lake views through the floor-to-ceiling windows. The commercial tower will also house rest and relaxation facilities such as a fully equipped gymnasium, steam room, rooftop pool, Jacuzzi, food courts and a shopping boulevard, in addition to a six-level indoor parking.

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For more information, please contact:
AAKAR Developers Limited
P.O.Box 121338, Dubai, UAE
Tel: +971-4-368-4347
Fax: +971-4-368-4348

© Press Release 2008