Dubai, UAE, April 2, 2005: Residents of Dubai's Sheikh Zayed Road received an unusual wake-up call today, April 1, when demolition experts collapsed the World Trade Centre Hotel.

The site of the well-known, 27-year-old building will be occupied by a luxury residential development, the World Trade Centre Residence, due for completion in December 2007.

UK-based Controlled Demolition Group reduced the old World Trade Centre Hotel to dust and rubble in seconds through a series of controlled explosions at 8:00am today. Dubai Police cordoned off the area, evacuated surrounding buildings, and closed Sheikh Zayed Road prior to the demolition, making for a textbook public safety exercise.

Asteco, the real estate consultancy firm responsible for the sale of World Trade Centre Residence apartments, welcomed buyers, the media and business associates for a VIP viewing of the demolition from the roof of the Dubai International Convention Centre.

Elaine Jones, Asteco's CEO, said: "The World Trade Centre Hotel building was a familiar landmark, and it will be replaced by a new development perfectly in tune with the ambitions of Dubai. Today's demolition is symbolic of the emirate's rapid progress, and the World Trade Centre Residence will fully justify its billing as one of the most elegant and luxurious residential developments in downtown Dubai."

The World Trade Centre Hotel was a 333-room Hilton hotel property from its opening in 1978 until December 2000.

The building's 'blow down' this morning was the culmination of three months of careful preparation work, which included stripping the property, removing block work, drilling to place charges, and executing test blasts and rigorous safety tests.

Richard Green, Project Manager of Controlled Demolition Group, led a team of five demolition experts with more than 100 years' experience between them. A 12-year veteran of the company and a former military explosives expert with the British Army, Green also managed the demolition of the Chicago Beach Hotel, which stood on the site now occupied by The Jumeirah Beach Hotel, in 1997.

Less than 200 kilos of locally manufactured explosives, linked to 3,000 charges, were used in the World Trade Centre Hotel demolition. Clearing the site will take a further six to eight weeks before preliminary work on the new World Trade Centre Residence can begin.

Established in 1985, UK-based Controlled Demolition Group specialises in traditional demolition, emergency demolition, explosive demolition and decommissioning services for public and private sector clients.

It demolishes as many as 30 high-rise buildings a year and has completed projects outside the UK in Asia, the Middle East, Scandinavia, and mainland Europe.

Due for completion in December 2007, the World Trade Centre Residence promises a combination of the ultimate home environment with levels of five-star luxury and service associated with the best hotels.

Residents are guaranteed secure privacy and the finest personal touch, including 24-hour concierge and valet services.

Situated within walking distance of the Dubai International Financial Centre, the World Trade Centre, and Emirates Towers, the World Trade Centre Residence will also benefit from its superb location at the heart of Dubai's main business district.

Asteco's Jones added: "We're seeing interest from elite clientele from the most moneyed parts of the world including Manhattan and Beverley Hills, and from discerning clients across the Middle East."

A landscaped rooftop garden and terrace, fully equipped gym and health club, and temperature-controlled pool and poolside caf are other winning features of the World Trade Centre Residence. The rooftop will be home to The World Trade Centre Residence Club, an informal retreat and meeting place strictly for residents and guests.
 
Hospitality leader Jumeirah International is the exclusive building and facilities management consultant for the World Trade Centre Residence. New York-based Turner Construction is the project and construction manager, and architects Jung Brannen are lead design consultants for the development.

Asteco is the real estate consultant responsible for the sale of all World Trade Centre Residence apartments. Asteco has an extensive client list in the UAE, and an impressive portfolio of properties in Europe. In the UAE, Asteco has offices in Abu Dhabi, Dubai, Sharjah and Al Ain.

-Ends-

For more information about the World Trade Centre Residence, visit www.theresidence-dwtc.ae

For further information, please contact:

Hala Kasem                                                                         Stephen Worsley/Rami Halawani
Marketing and PR Manager                                                     Polaris Public Relations
Asteco Property Management                                                 Dubai, UAE
Tel: (+9714) 4037731                                                           Tel: (+9714) 33448522
Fax: (+9714) 4037831                                                          Fax: (+9714) 3341326
Email: hala@astecoproperty.com                                            Email: s.worsley@polaris-me.com

© Press Release 2005