Aim is to Create World Class Integrated Project Management Company

Dubai, 2 June 2007: Sama Dubai; the international real estate and investment arm of Dubai Holding, has announced the formation of a joint venture with EC Harris, a leading consultancy working in the real estate, infrastructure and construction sectors. The aim is to create a world class integrated project management company.

The joint venture will bring together Sama Dubai's existing project management team of over 200 staff and EC Harris's over 90 years experience of delivering value through the application of knowledge, professional skills and technology to clients' projects.

Farhan Faraidooni; Executive Chairman of Sama Dubai said: "The joint venture with EC Harris will deliver tremendous value to all our stakeholders by achieving excellence in project management.  The establishment of the new organization will allow us to focus on further developing our core competencies".

"The successful growth and magnitude of our Project Management team puts it in a position to be reshaped successfully into a stand alone profit-making business. Partnering with a leading international project management firm will tremendously accelerate the professional development of the new entity and ensure it operates to the highest international standards.

Commenting on the benefits of the joint venture for Sama Dubai's Project Management team, Faraidooni added: "This move will strengthen their capabilities and skills to ensure a long term, more specialized career growth.

"I am confident that the Sama Dubai-EC Harris joint venture will quickly establish itself as a significant player, competing with the leading project management companies around the world."

The unique value proposition created by the joint venture attracted many of the world's leading project management firms. EC Harris was selected for its proven best practices, immaculate track record, extensive professional skills, as well as its cultural fit with Sama Dubai.

Richard Clare, Chairman, EC Harris said: "The strategic nature of the relationship between us and Sama Dubai will enable the joint venture to set new global standards in the integrated delivery of premium real estate developments.

"Sama Dubai's commitment to a long term programme of large scale developments will provide the joint venture with a platform for unlimited growth. In turn, we will transfer our expertise in project management, career development programs, systems and processes to the joint venture to develop a world-class integrated project management business."

The joint venture supports Sama Dubai's vision of becoming the leading real estate developer in the MENA region and one of the top five players globally. Sama Dubai is currently developing projects in the UAE, Oman, Qatar, Bahrain, Turkey and Morocco.

Headquartered in London, EC Harris was established in 1911. Since then it has developed world class processes and systems to support consistency of delivery and robust management and change controls. EC Harris has extensive civil engineering and infrastructure expertise.  With 43 offices around the world employing over 3,000 people, EC Harris has developed a cultural awareness as well as professional knowledge and expertise. Some of its landmark projects include BAA's Terminal 5 at Heathrow, Emirates Stadium UK, Dubai Chamber of Commerce and Industry Tower and Dubai Marina, UAE.

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About Sama Dubai
Sama Dubai is a private company wholly owned by Dubai Holding. The international real estate investment and development company focuses on leveraging synergies across international, regional and local real estate sectors. Its aim is the creation of a world class portfolio of partners, properties and investments which distinguish it as a market leader.

Sama Dubai is active across several segments of the real estate development sector including tower buildings (under the 'Dubai Towers' brand), large scale resorts (under the 'Salam' brand), business developments, mega malls and more. 

Sama Dubai's existing projects are:

Dubai Towers - Doha, Qatar
Dubai Towers - Istanbul, Turkey
Dubai Towers - Casablanca, Morocco
Dubai Towers - Dubai, United Arab Emirates
Amwaj - Rabat, Morocco
Salam, Beach Resort & Spa - Bahrain
Salam Mountain Beach Resort & Spa - Yiti, Oman
Marina de Casablanca, Morocco
The Lagoons - Dubai, UAE

For further information please visit: www.sama-dubai.com, or contact:
Yasir Niazi
Sama Dubai
Tel: +971 4 4279240
Email: yasir.niazi@sama-dubai.com
 
Reem Sadek
JiWin
The Public Relations arm of Dubai Press Club
Tel: +971 4 361 3588
Email: Reem.sadek@jiwin.ae

© Press Release 2007