Emaar Properties in conjunction with Armani S.p.A unveils exclusive beachfront residences in Egypt's most historic beach in a picturesque, unspoilt setting
Villas embody Armani's philosophy of stylish simplicity
Cairo, Egypt; August 27, 2008: Emaar Properties PJSC in partnership with Armani S.p.A have announced the highly sought-after Armani Residences in Marassi, Emaar's flagship resort development in Egypt. Personally designed by fashion icon Giorgio Armani, this will be the first villa offering under the Armani Residences collaboration.
Taking the 'Live with Armani' philosophy to Egypt, the Armani Residences, Marassi will be set on the Sidi Abdel Rahman Bay, one of the most picturesque and historic beaches in the country.
This exclusive destination will be a distinctive Mediterranean lifestyle experience that builds on the maiden beachfront ambience of the location and offers connoisseurs from around the world the opportunity to experience Mr Armani's style of understated elegance and simplicity.
The resort-style residences featuring a combination of stacked villas and three- and four-bedroom villas, all facing the Mediterranean Sea, will be an integral part of Marassi, the EGP9.92 billion (AED6.39 billion; US$1.74 billion) master-planned community developed by Emaar Misr, the wholly-owned country subsidiary of Emaar.
Spread across 1,544 acres of tourist land, Marassi is an all-year round destination and enjoys the unique location advantage of being in the best stretch of beach on the North Coast. The 6.25 million sq m gated community has premier leisure amenities including a world-class beach resort, a vibrant town centre, marina, golf course and hotels set amidst lush greenery and lagoons.
Mr Mohamed Ali Alabbar, Chairman, Emaar Properties, said: "Armani Residences, Marassi blends the advantages of a spectacular location with the world's most elegant and refined home designs. Sidi Abdel Rahman Bay is a historic Mediterranean beach destination where Emaar Misr, through Marassi, is bringing in a new lifestyle. Armani Residences will be a superior value addition to Marassi, as these elegant homes have the personal touch of Giorgio Armani."
Mr Giorgio Armani said: "While designing the Armani Residences, Marassi I integrated several elements that capture the serenity and calm of beachfront living. I was also keen to present residents with personalised living spaces that conveyed the comfort, simplicity and understated elegance - cornerstones of the Armani Residences offering."
In designing the Armani Residences, Marassi, Giorgio Armani responds to the equitable climate and location advantage by creating classical spaces qualified by space, light and structural order. Cutting away from confusing stylistic notions, the architecture of the homes are based on the functionality and aesthetics of volume, light and surface. As a lifestyle experience, this translates to living in close harmony with nature by maximising the benefits of the beachfront ambience.
Mr Sameh Muhtadi, Chief Executive Officer, Emaar Misr for Development S.A.E, said: "Marassi has several distinctive features that make it a prized resort development including one of the region's largest Marinas. A beach club and hotel are already operational and work on the resort is progressing ahead of schedule. The Armani Residences at Marassi will further build its appeal as an unparalleled Mediterranean destination on par with Greek, Italian or French beach resorts."
The villa sizes range from 250 to 500 sq m with each unit featuring a private pool. Common area amenities include retail outlets, boardwalk lounge, health club, reflective pool, resort club, screening room, swimming pools and pool deck. There will be designated reception and drop-off points for the convenience of residents and guests.
The furnishing and bespoke finishes of all homes are master-designed by Mr Armani himself. An exclusive range of Armani/Casa home furnishings - a variant of which is used at Armani Residences, Burj Dubai - will give elegant sophistication to the residences. These exclusive residences will also feature automated systems for security, temperature and drapery control, lighting and air-conditioning.
Following roadshows in several international markets, the world's first Armani Residences located in the iconic Burj Dubai, the world's tallest building, were launched end 2007 to overwhelming international investor response. The Armani Residences redefines modern living by creating warm, welcoming, harmonious and luxury spaces combined with elegant designs and furnishing.
The Marassi homes will also be promoted internationally, thus adding more appeal to Egypt as a resort investment destination.
Emaar is also developing the Armani Hotel Dubai - one of the first to be opened as part of the collaboration between Emaar and Giorgio Armani S.p.A - also to be situated in Burj Dubai. Several Armani Hotels and Armani Residences are being planned in the world's most prominent international cities.
Marassi, two hours by road from Cairo, is accessible from the Burj El Arab and El Alamein airports, both offering direct connections to major European and Middle Eastern cities.
-Ends-
Armani Hotels & Resorts was established in 2005 under an agreement between Giorgio Armani S.p.A and Emaar Properties with the objective to develop, own and operate an exclusive collection of hotels, resorts and residences in the world's most important cities and holiday destinations. The agreement foresees the opening of at least seven luxury hotels and three vacation resorts within the next ten years. The first hotel is expected to be opened in the last quarter of 2009 within Emaar Properties' Burj Dubai development, which is the world's tallest building. The Armani Hotel Dubai will include 160 guest rooms and suites, restaurants and a spa, covering more than 40,000 square meters. Alongside the hotel, the Burj Dubai will offer 144 luxury residential apartments all designed by Giorgio Armani and fully furnished with a specially designed line of products from the Armani/Casa home furnishings collection. The tower is the centrepiece of a new 500-acre community, Downtown Burj Dubai that includes The Dubai Mall. The opening of the Armani Hotel Milano will follow shortly afterwards, with a first Armani Resort planned for Marrakech.
The Armani Group is one of the leading fashion and luxury goods groups in the world today with 5,000 direct employees and 13 factories. It designs, manufactures, distributes and retails fashion and lifestyle products including apparel, accessories, eyewear, watches, jewellery, home furnishings, fragrances and cosmetics under a range of brand names: Giorgio Armani Privé, Giorgio Armani, Armani Collezioni, Emporio Armani, AJ | Armani Jeans, A/X Armani Exchange, Armani Junior, Armani Baby and Armani Casa. The Group's exclusive retail network currently comprises: 73 Giorgio Armani boutiques, 12 Armani Collezioni stores, 140 Emporio Armani stores, 118 A/X Armani Exchange stores, 18 AJ | Armani Jeans stores, 7 Armani Junior stores, 1 Giorgio Armani Accessori, 1 Emporio Armani Accessori store and 33 Armani Casa stores in 46 countries. The Armani Group has also announced its intention to open a unique collection of luxury hotels and resorts in the world's most important cities and destinations.
About Emaar Misr for Development S.A.E:
Emaar Misr for Development S.A.E is the wholly owned subsidiary of the UAE-based Emaar Properties PJSC, a global property developer with a collective presence in over 36 markets spanning the Middle East, North Africa, Pan-Asia, Europe and North America.
Emaar Misr is one of the largest foreign direct investor in Egypt's real estate sector with an investment portfolio of EGP 31.67 billion (US$5.54 billion). Emaar's expansion into Egypt is in line with the company's Vision 2010 to become one of the most valuable companies in the world.
Emaar has identified Egypt as a key market for growth, and has announced four key projects: The EGP 12 billion (US$2.1 billion) Uptown Cairo; the EGP 9.92 billion (US$1.74 billion) Marassi, a 1,544-acre tourist and residential destination at Sidi Abdul Rahman; the EGP 5.75 billion (US$1 billion) residential community located at the fifth district New Cairo City; and the EGP 4 billion (US$700 million) commercial cum residential development on the Cairo - Alexandria desert road, which also features the largest outdoor shopping and entertainment destinations in the country, Cairo Gate.
About Emaar Properties PJSC:
Emaar Properties PJSC is one of the world's largest real estate companies and is rapidly evolving to become a global provider of premier lifestyles. Powered by its Vision 2010 to become one of the most valuable companies in the world, Emaar, ranked on the FT 500 Global companies, is charting a new course of growth with a two-pronged strategy of geographical expansion and business segmentation.
Listed on the Dubai Financial Market, part of the Dow Jones Arabia Titans Index and certified to ISO9001:2000 for quality standards, Emaar is developing Burj Dubai, on its way to become the world's tallest tower the world's tallest building. Emaar's portfolio currently covers the following countries: the UAE, Saudi Arabia, Jordan, Syria, Lebanon, Morocco, Egypt, Turkey, Algeria, Libya, India, Pakistan, China, Indonesia, the US, the UK, France and Canada.
Emaar has strengthened its product sale competencies, market reach and best practices through strategic acquisitions and joint ventures. Emaar acquired John Laing Homes, America's second largest privately held home builder; Hamptons International, UK's premier realtor; and formed a joint venture with US-based Turner International to strengthen execution capabilities. Emaar has joined hands with Giorgio Armani, Accor Hotels and Premier Travel Inn to strengthen its presence in hospitality, and will launch ten luxury Armani Hotels & Resorts world-wide and 180 budget hotels in India.
Emaar holds 30 per cent equity in Dubai Bank, focused on retail and commercial banking. Emaar is also the largest shareholder in Amlak Finance, UAE's leading Islamic home financing company. For more information, visit www.emaar.com.
For further information, please contact:
Kelly Home / Nivine William
ASDA'A Public Relations
Tel: (+971 4) 334 4550
E-mail: k.home@asdaa.com, n.william@asdaa.com
© Press Release 2008
